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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w14452 |
来源ID | Working Paper 14452 |
Income Dispersion and Counter-Cyclical Markups | |
Chris Edmond; Laura Veldkamp | |
发表日期 | 2008-10-30 |
出版年 | 2008 |
语种 | 英语 |
摘要 | Recent advances in measuring cyclical changes in the income distribution raise new questions: How might these distributional changes affect the business cycle itself? We show how counter-cyclical income dispersion can generate counter-cyclical markups in the goods market, without any preference shocks or price-setting frictions. In recessions, heterogeneous labor productivity shocks raise income dispersion, lower the price elasticity of demand, and increase imperfectly competitive firms' optimal markups. The calibrated model explains not only many cyclical features of markups, but also cyclical, long-run and cross-state patterns of standard business cycle aggregates. |
主题 | Macroeconomics ; Business Cycles |
URL | https://www.nber.org/papers/w14452 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572127 |
推荐引用方式 GB/T 7714 | Chris Edmond,Laura Veldkamp. Income Dispersion and Counter-Cyclical Markups. 2008. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w14452.pdf(371KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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