Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/174136 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
Cardiff Economics Working Papers No. E2017/8
Verlag: 
Cardiff University, Cardiff Business School, Cardiff
Zusammenfassung: 
Slow firm entry over the business cycle causes measured TFP to vary endogenously because incumbent firms bear shocks. Our main theorem states that imperfect competition and dynamic firm entry are necessary and sufficient conditions for these endogenous productivity fluctuations. The result focuses on the short-run absence of entry and incumbents' output response given this quasi-fixity. Quantitatively we show the endogenous productivity effect is as large as a traditional capital utilization effect.
Schlagwörter: 
dynamic entry
endogenous productivity
endogenous sunk costs
business stealing
business cycle
continuous time
JEL: 
E32
D21
D43
L13
C62
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
866.63 kB





Publikationen in EconStor sind urheberrechtlich geschützt.