全球智库信息集成服务系统(G2TT): Income Dispersion and Counter-Cyclical Markups

G2TT

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.