Countercyclical markups and news-driven business cycles

Pavlov, Oscar & Weder, Mark (2013) Countercyclical markups and news-driven business cycles. Review of Economic Dynamics, 16(2), pp. 371-382.

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The standard one-sector real business cycle model is unable to generate expectations-driven fluctuations. The addition of countercyclical mark-ups and modest investment adjustment costs offers an easy fix to this conundrum. The simulated model replicates the regular features of U.S. aggregate fluctuations.

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4 citations in Scopus
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4 citations in Web of Science®

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39 since deposited on 27 Mar 2013
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ID Code: 58194
Item Type: Journal Article
Refereed: Yes
Keywords: Expectations-driven business cycles, Markups
DOI: 10.1016/
ISSN: 1094-2025
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200) > Macroeconomics (incl. Monetary and Fiscal Theory) (140212)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Economics & Finance
Copyright Owner: Copyright 2013 Elsevier Inc.
Copyright Statement: NOTICE: this is the author’s version of a work that was accepted for publication in Review of Economic Dynamics. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Review of Economic Dynamics, [Volume 16, Issue 2, (April 2013)] DOI: 10.1016/
Deposited On: 27 Mar 2013 22:29
Last Modified: 03 Apr 2016 17:59

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