Heterogeneous producers facing common shocks: An overlapping-generations example
An analytically tractable model of a competitive, full-information economy is provided in which, for some parameter values, entry and exit over the course of the business cycle is concentrated among small firms. This model is intended to make the logical point that the relatively high sensitivity of small firms to business-cycle fluctuations does not necessarily indicate the presence of informational or incentive constraints in financial markets.
Year of publication: |
2009
|
---|---|
Authors: | Green, Edward J. |
Published in: |
Journal of Economic Theory. - Elsevier, ISSN 0022-0531. - Vol. 144.2009, 6, p. 2266-2276
|
Publisher: |
Elsevier |
Subject: | Business cycle Heterogeneous-agent model |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Sequential stratified sampling
Green, Edward J., (1994)
-
Contracts, constraints, and consumption
Green, Edward J., (1991)
-
Eliciting traders' knowledge in "frictionless" asset market
Green, Edward J., (1991)
- More ...