Title of article :
Firm dynamics,markupvariations,andthebusinesscycle
Author/Authors :
Nir Jaimovich، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2008
Abstract :
Wepresentamodelinwhichnetbusinessformationisendogenouslyprocyclical.
Variationsinthenumberofoperatingfirmsleadtocountercyclicalvariationsin
markupsthatgiverisetoendogenousprocyclicalmovementsinmeasuredtotalfactor
productivity (TFP).Basedonthisresult,thepapersuggestsasimplestructural
decompositionofvariationsinTFPintothoseoriginatingfromexogenousshocksand
thoseoriginatingendogenouslyfromtheinteractionbetweenfirms’entryandexit
decisionsandthedegreeofcompetition.Thedecompositionsuggeststhataround40%
of themovementsinmeasuredTFPcanbeattributedtothisinteraction.Moreover,the
paperanalyzestheeffectson(i)themeasurementofthevolatilityofexogenousshocks
in theU.S.economyand(ii)themagnificationofshocksoverthebusinesscycle
Keywords :
ProductivityBusiness cyclesFirm dynamicsMarkups
Journal title :
Journal of Monetary Economics
Journal title :
Journal of Monetary Economics
