The Cyclical Behaviour of Wages and Profits Under Imperfect Competition
AbstractThe authors build a dynamic model of the business cycle with monopolistically competitive firms. With simple assumptions concerning firm entry and exit, the model can explain some stylized facts of the business cycle that standard real business cycle models cannot predict. They include the cyclical behavior of the shares of capital and labor income in total income and the pattern of net firm creation. These predictions are robust to whether the main source of the business cycle is aggregate supply shocks or aggregate demand shocks.
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Bibliographic InfoPaper provided by Centre interuniversitaire de recherche en économie quantitative, CIREQ in its series Cahiers de recherche with number 9330.
Length: 21 pages
Date of creation: 1993
Date of revision:
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competition ; wages;
Other versions of this item:
- Steve Ambler & Emanuela Cardia, 1998. "The Cyclical Behaviour of Wages and Profits under Imperfect Competition," Canadian Journal of Economics, Canadian Economics Association, vol. 31(1), pages 148-164, February.
- Steve Ambler & Emanuela Cardia, 1993. "The Cyclical Behaviour of Wages and Profits under Imperfect Competition," Cahiers de recherche CREFE / CREFE Working Papers 18, CREFE, Université du Québec à Montréal, revised Jun 1996.
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Fiscal spending shocks, endogenous government spending, and real business cycles,"
Discussion Paper / Institute for Empirical Macroeconomics
94, Federal Reserve Bank of Minneapolis.
- Steve Ambler & Alain Paquet, 1993. "Fiscal Spending Shocks, Endogenous Government Spending and Real Business Cycles," Cahiers de recherche CREFE / CREFE Working Papers 14, CREFE, Université du Québec à Montréal.
- ambler, s. & cardia, e. & phaneuf, l., 1991.
"contracts de salaire, croissance endogene et fluctuations,"
Cahiers de recherche
9124, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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- repec:hal:cesptp:hal-00680634 is not listed on IDEAS
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"Endogenous Entry, Product Variety, and Business Cycles,"
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"Sector-specific Markup Fluctuations and the Business Cycle,"
2008 Meeting Papers
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- Florin O. Bilbiie & Fabio Ghironi & Marc J. Melitz, 2008.
"Monetary Policy and Business Cycles with Endogenous Entry and Product Variety,"
in: NBER Macroeconomics Annual 2007, Volume 22, pages 299-353
National Bureau of Economic Research, Inc.
- Florin O. Bilbiie & Fabio Ghironi & Marc J. Melitz, 2007. "Monetary Policy and Business Cycles with Endogenous Entry and Product Variety," NBER Working Papers 13199, National Bureau of Economic Research, Inc.
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- Ríos-Rull, José-Víctor & Santaeulàlia-Llopis, Raül, 2010. "Redistributive shocks and productivity shocks," Journal of Monetary Economics, Elsevier, vol. 57(8), pages 931-948, November.
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- Enchuan Shao & Pedro Silos, 2008. "Firm entry and labor market dynamics," Working Paper 2008-17, Federal Reserve Bank of Atlanta.
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