Ravn, Morten O; Schmitt-Grohé, Stephanie; Uribe, Martín - C.E.P.R. Discussion Papers - 2004
typically assumed ad-hoc in customer market and brand switching cost models. A central result of the Paper is that deep habits …-hoc formulations of customer-market and switching-cost models have been criticized for implying pro-cyclical and hence counterfactual …