Countercyclical Profitability Spread: A New Class of Stylized Business Cycle Fact?
The conventional lists of stylized facts are composed of sentences about the comovement of ordinary macroeconomic time-series and the business cycle. It is argued that these lists are incomplete because heterogeneous agent stylized facts are missing. But there is evidence about the heterogeneity of firm-level profitability changes over the cycle both from scattered literature as well as from an empirical examination. It is concluded that the countercyclical profitability spread should make up the first item on a new list of microfoundation stylized facts which is an indispensable necessity for setting up empirically valuable heterogeneous agent models of the business cycle.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||01 Mar 1998|
|Date of revision:|
|Availability:||out of print|
|Contact details of provider:|| Postal: |
Phone: +049 3641/ 9 43000
Fax: +049 3641/ 9 43000
Web page: http://www.wiwi.uni-jena.de/
More information through EDIRC
|Order Information:|| Postal: If a paper is not downloadable, please contact the author(s) or the library of University of Jena, not the archive maintainer.|
When requesting a correction, please mention this item's handle: RePEc:jen:jenavo:1998-04. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.