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The competition effect in business cycles
Lewis, Vivien; Stevens, Arnoud - 2012
the "competition effect", by which desired price markups and inflation decrease when entry rises. We find that a 1 percent …
Persistent link: https://www.econbiz.de/10010391305
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Entry and markup dynamics in an estimated business cycle model
Lewis, Vivien; Stevens, Arnoud - In: European economic review : EER 74 (2015), pp. 14-35
Persistent link: https://www.econbiz.de/10011522579
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Business cycle evidence on firm entry
Lewis, Vivien - 2008
Business cycle models with sticky prices and endegenous firm entry make novel predictions on the transmission of shocks through the extensive margin of investment. This paper tests some of these predictions using a vector autoregression with model-based sign restrictions. We find a positive and...
Persistent link: https://www.econbiz.de/10010295880
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Firms' heterogeneity, endogenous entry, and exit decisions
Totzek, Alexander - 2009
As GDP is highly correlated with both entering and exiting firms, we develop a totally microfounded DSGE model with endogenous firms entry as well as exit decisions. We show that the simplifying assumption of a constant firms' death rate made by the recent literature on DSGE modelling can lead...
Persistent link: https://www.econbiz.de/10010299744
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Macroeconomic fluctuations and firm entry: theory and evidence
Lewis, Vivien - 2006
This paper studies the behaviour of firm entry and exit in response to macroeconomic shocks. We formulate a dynamic stochastic general equilibrium model with an endogenous number of producers. From the calibrated model, we derive a minimum set of robust sign restrictions to identify four kinds...
Persistent link: https://www.econbiz.de/10011506624
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Endogenous firm entry in an estimated model of the US business cycle - updated version
Offick, Sven; Winkler, Roland - 2015
business cycle fluctuations. The amplification mechanism works through the competition and the variety effect. This paper tests … the significance of this amplification mechanism, quantifies its importance, and disentangles the competition and the … competition and the variety effect are estimated to be statistically significant. Together, they amplify the volatility of output …
Persistent link: https://www.econbiz.de/10011390479
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Entry and exit with financial frictions
Macnamara, Patrick - 2014
Persistent link: https://www.econbiz.de/10011311417
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Endogenous firm entry in an estimated model of the US business cycle
Offick, Sven; Winkler, Roland - 2014
business cycle fluctuations. The amplification mechanism works through the competition and the variety effect. This paper tests … the significance of this amplification mechanism, quantifies its importance, and disentangles the competition and the … parameter governing the competition and variety effect is estimated to be statistically significant. We find that firm entry …
Persistent link: https://www.econbiz.de/10010233105
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Endogenous firm entry in an estimated model of the U.S. business cycle : conference paper
Offick, Sven; Winkler, Roland - 2013 - Preliminary and incomplete
This paper explores and quantifies the role of endogenous firm entry in amplifying and propagating shocks to the economy. To this end, we estimate two DSGE models on US data with Bayesian methods: one model with endogenous firm entry and translog preferences and one model without. Both models...
Persistent link: https://www.econbiz.de/10010341104
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Grown-up business cycles
Pugsley, Benjamin; Şahin, Ayşegül - 2015
Persistent link: https://www.econbiz.de/10011455248