EconStor >
Christian-Albrechts-Universität Kiel (CAU) >
Department of Economics, Universität Kiel  >
Economics Working Papers, Department of Economics, CAU Kiel >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/29541
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorTotzek, Alexanderen_US
dc.date.accessioned2010-01-12en_US
dc.date.accessioned2010-01-12T16:03:33Z-
dc.date.available2010-01-12T16:03:33Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/29541-
dc.description.abstractAs GDP is highly correlated with both entering and exiting firms, we develop a totally microfounded DSGE model with endogenous firms entry as well as exit decisions. We show that the simplifying assumption of a constant firms' death rate made by the recent literature on DSGE modelling can lead to counterfactual implications of the resulting dynamics. We further demonstrate that the feature of endogenous exits significantly improves the performance of the resulting model when comparing the generated second moments with those of existing models assuming exogenous exits and with the data. Moreover, we estimate the resulting Phillips curve which turns out to be also a function of the change in the mass of producers using the generalized method of moments.en_US
dc.language.isoengen_US
dc.publisherUniv., Dep. of Economics Kielen_US
dc.relation.ispartofseriesEconomics working paper / Christian-Albrechts-Universität Kiel, Department of Economics 2009,11en_US
dc.subject.jelE32en_US
dc.subject.jelE31en_US
dc.subject.ddc330en_US
dc.subject.keywordHeterogeneityen_US
dc.subject.keywordProducer entry and exiten_US
dc.subject.keywordBusiness cyclesen_US
dc.subject.keywordGMMen_US
dc.subject.stwKonjunkturtheorieen_US
dc.subject.stwMarkteintritten_US
dc.subject.stwMarktaustritten_US
dc.subject.stwAllgemeines Gleichgewichten_US
dc.subject.stwDynamisches Gleichgewichten_US
dc.subject.stwStochastischer Prozessen_US
dc.subject.stwMikroökonomische Fundierungen_US
dc.subject.stwMomentenmethodeen_US
dc.subject.stwPhillips-Kurveen_US
dc.subject.stwTheorieen_US
dc.titleFirms' heterogeneity, endogenous entry, and exit decisionsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn615810365en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:cauewp:200911-
Appears in Collections:Economics Working Papers, Department of Economics, CAU Kiel

Files in This Item:
File Description SizeFormat
615810365.pdf502.24 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.