Dos Santos Ferreira, Rodolphe; Lloyd-Braga, Teresa - In: Journal of Economic Dynamics and Control 32 (2008) 11, pp. 3502-3519
We approach business cycles on the basis of extrinsic uncertainty, related to static indeterminacy of free entry oligopolistic equilibria. Firms, producing under increasing returns to scale, compete in prices in contestable markets. The number of active firms varies across sectoral equilibria,...