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dc.contributor.authorTotzek, Alexanderen_US
dc.date.accessioned2010-08-11T09:09:28Z-
dc.date.available2010-08-11T09:09:28Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/37499-
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.publisherVerein für Socialpolitik Frankfurt a. M.en_US
dc.relation.ispartofseriesBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Advances of New Keynesian Macroeconomics G2-V1en_US
dc.subject.jelE32en_US
dc.subject.jelE31en_US
dc.subject.jelE30en_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.titleFirms' Heterogeneity, Endogenous Entry, and Exit Decisionsen_US
dc.typeConference Paperen_US
dc.identifier.ppn654889341-
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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