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Business Cycles and Oligopoly Supergames : Some Empirical Evidence on Prices and Margins
Domowitz, Ian; Petersen, Bruce C.; Hubbard, R. Glenn - 2021
There has been a significant interest on a theoretical level in the application of supergames to oligopoly behavior …
Persistent link: https://www.econbiz.de/10013216122
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Coordination cycles
Steiner, Jakub - In: Games and economic behavior 63 (2008) 1, pp. 308-327
Persistent link: https://www.econbiz.de/10003736799
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Shaped by Booms and Busts : How the Economy Impacts CEO Careers and Management Styles
Schoar, Antoinette - 2014
We show that economic conditions when managers enter the labor market have long-run effects on their career paths and … managerial styles. Managers who began their careers during recessions become CEOs more quickly, but at smaller firms. They also … environment is important to the formation and selection of managers …
Persistent link: https://www.econbiz.de/10013067126
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Trading on Sunspots
Jovanovic, Boyan - 2015
In a model with multiple Pareto-ranked equilibria we add trade in assets that pay based on the realization of a sunspot. Asset trading restricts the equilibrium set in a way that raises welfare by eliminating equilibria with a high likelihood of disasters. When the probability of a disaster is...
Persistent link: https://www.econbiz.de/10013031016
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A Supergame-Theoretic Model of Business Cycles and Price Wars During Booms
Rotemberg, Julio J.; Saloner, Garth - 2021
the collusive outcome is often greater when demand is high. To moderate this temptation,the optimizing oligopoly reduces … support our theory. (J.E.L. Classification numbers:020, 130, 610) …
Persistent link: https://www.econbiz.de/10013228647
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Economic conditions, elections, and the magnitude of foreign conflicts
Hess, Gregory D.; Orphanides, Athanasios - In: Journal of public economics 80 (2001) 1, pp. 121-140
Persistent link: https://www.econbiz.de/10001554363
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Investment Dispersion and the Business Cycle
Bachmann, Ruediger - 2011
We document a new business cycle fact: the cross-sectional standard deviation of firm-level investment (investment dispersion) is robustly and significantly procyclical. This makes investment dispersion different from the dispersion of productivity and output growth, which is countercyclical....
Persistent link: https://www.econbiz.de/10013128889
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Procyclicality and Monetary Aggregates
Shin, Hyun Song - 2011
Financial intermediaries borrow in order to lend. When credit is increasing rapidly, the traditional deposit funding (core liabilities) is supplemented with other funding (non-core liabilities). We explore the hypothesis that monetary aggregates reflect the size of non-core and core liabilities...
Persistent link: https://www.econbiz.de/10013129118
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Understanding Booms and Busts in Housing Markets
Burnside, A. Craig - 2011
Some booms in housing prices are followed by busts. Others are not. It is generally difficult to find observable fundamentals that are useful for predicting whether a boom will turn into a bust or not. We develop a model consistent with these observations. Agents have heterogeneous expectations...
Persistent link: https://www.econbiz.de/10013130972
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The Propagation of Regional Recessions
Hamilton, James D. - 2011
This paper develops a framework for inferring common Markov-switching components in a panel data set with large cross-section and time-series dimensions. We apply the framework to studying similarities and differences across U.S. states in the timing of business cycles. We hypothesize that there...
Persistent link: https://www.econbiz.de/10013131771