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Entry and Exit, Product Variety and the Business Cycle

Chatterjee, Satyajit - 1993

sells his product in the consumption goods as well as the investment goods market and has market power in both. Consumers … the investment goods. We analyze the equilibrium of this economy allowing for an endogenous determination of the number of …

Persistent link: https://www.econbiz.de/10012474378

Learning by Doing and Aggregate Fluctuations

Cooper, Russell - 1999

A major unresolved issue in business cycle theory is the construction of an endogenous propagation mechanism capable of …

Persistent link: https://www.econbiz.de/10012471913

Financial Fragility and the Great Depression

Cooper, Russell - 1997

We analyze a financial collapse, such as the one which occurred during the Great Depression, from the perspective of a monetary model with multiple equilibria. The economy we consider contains financial fragility due to increasing returns to scale in the intermediation process. Intermediaries...

Persistent link: https://www.econbiz.de/10012472720

Machine Replacement and the Business Cycle : Lumps and Bumps

Cooper, Russell - 1995

This paper explores cyclical fluctuations in investment due to discrete changes in the plant's stock of capital. To do … characterize the relationship between lumpy investment and the state of the aggregate economy. Our theoretical results are … supplemented by numerical and empirical analyses of the dynamics of lumpy investment at the plant level and the associated …

Persistent link: https://www.econbiz.de/10012473615

The Aggregate Implications of Machine Replacement : Theory and Evidence

Cooper, Russell - 1990

This paper studies an economy in which producers must incur resource costs to replace depreciated machines. The process of costly replacement and depreciation creates endogenous fluctuations in productivity, employment and output of a single producer. We also explore the spillover effects of...

Persistent link: https://www.econbiz.de/10012475492