Reference : On business cycles of variety and quality |
E-prints/Working papers : Already available on another site | |||
Business & economic sciences : Microeconomics | |||
http://hdl.handle.net/10993/15269 | |||
On business cycles of variety and quality | |
English | |
Hamano, Masashige ![]() | |
2013 | |
Yes | |
[en] entry and exit ; fi rm heterogeneity ; the Schumpeterian destruction ; product quality ; business cycles | |
[en] This paper explores the role played by product variety and quality in a real business
cycle model. Firms are heterogeneous in terms of their speci c quality as well as pro- ductivity levels. Firms which have costly technology enter in a period of high aggregated demand and produce high quality goods. Thus, the average quality level and number of available varieties are procyclical, as in the data. The model can replicate the observed in flationary bias in the conventional Consumer Price Index due to a rise in the number of new product varieties and quality. | |
Researchers ; Professionals ; Students | |
http://hdl.handle.net/10993/15269 | |
http://wwwfr.uni.lu/content/download/64761/815888/file/2013-21%20On%20business%20cycles%20of%20variety%20and%20quality.pdf |
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