Barseghyan, Levon (contributor); … - 2008
)analyzesamodelwhere
endogenous net business formation is procyclical: This implies endogenous
countercyclical variations in markup and … powerful propagation mechanism for real business cycle
models.
Empirical motivation for our work stems from the studies of the … makes them more competitive, raising factor prices and
driving low productivity �rms out of business. In the second case, a …