小型企业和大型企业的内生经济周期

IF 2.4 2区 经济学 Q1 ECONOMICS
Qazi Haque , Oscar Pavlov , Mark Weder
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引用次数: 0

摘要

近几十年来,大公司的市场力量有所增强。我们提出一个理论,其中他们的技术涉及生产多种产品的能力。大公司与较小的竞争对手互动,通过产品创造重新分配市场份额,在不同类型的公司之间产生异质的标记动态。大企业较高的市场份额增加了宏观经济不确定性的参数空间。一般均衡模型的贝叶斯估计表明,产品创造渠道的内生放大和动物精神在推动美国商业周期中发挥着重要作用。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Endogenous business cycles with small and large firms
Recent decades have seen a rise in the market power of large firms. We propose a theory in which their technology involves the ability to produce multiple products. Large firms interact with smaller competitors and market share reallocations via product creation generate heterogeneous markup dynamics across the firm types. Higher market shares of large firms increase the parameter space for macroeconomic indeterminacy. Bayesian estimation of the general equilibrium model suggests the importance of the endogenous amplification of the product creation channel and animal spirits play a non-trivial role in driving U.S. business cycles.
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来源期刊
CiteScore
4.70
自引率
3.60%
发文量
170
期刊介绍: The European Economic Review (EER) started publishing in 1969 as the first research journal specifically aiming to contribute to the development and application of economics as a science in Europe. As a broad-based professional and international journal, the EER welcomes submissions of applied and theoretical research papers in all fields of economics. The aim of the EER is to contribute to the development of the science of economics and its applications, as well as to improve communication between academic researchers, teachers and policy makers across the European continent and beyond.
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