Endogenous product turnover and macroeconomic dynamics
This paper introduces endogenous product entry and exit based on creation and destruction of product variety in a general equilibrium model. Recessionary technology shocks induce exit of unprofitable products on impact, allocating resources towards more productive production lines. However, during t...
| Main Authors: | , |
|---|---|
| Formato: | Journal article |
| Publicado: |
Elsevier
2017
|