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...
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| Формат: | Journal article |
| Опубликовано: |
Elsevier
2017
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