أعرض تسجيلة المادة بشكل مبسط

dc.creator Lewis, Vivien
dc.date 2008
dc.date.accessioned 2013-10-16T07:06:29Z
dc.date.available 2013-10-16T07:06:29Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19720
dc.identifier ppn:561200637
dc.identifier RePEc:zbw:bubdp1:7217
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19720
dc.description Business cycle models with sticky prices and endegenous firm entry make novel predictions on the transmission of shocks through the extensive margin of investment. This paper tests some of these predictions using a vector autoregression with model-based sign restrictions. We find a positive and significant response of firm entry to expansionary shocks to productivity, aggregate spending, monetary policy and entry costs. The estimated response to a monetary expansion does not support the monetary policy transmission mechanism proposed by the model. Insofar as firm startups require labour services, wage stickiness is needed to make the signs of the model responses consistent with the estimated ones. The shapes of the empirical responses suggest that congestion effects in entry make it harder for new firms to survive when the number of startups rises.
dc.language eng
dc.relation Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2008,08
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E32
dc.subject E30
dc.subject ddc:330
dc.subject firm entry
dc.subject business cycles
dc.subject VAR
dc.subject Konjunktur
dc.subject Markteintritt
dc.subject Marktaustritt
dc.subject Investition
dc.subject Transmissionsmechanismus
dc.subject Dynamisches Gleichgewicht
dc.subject VAR-Modell
dc.subject Theorie
dc.title Business cycle evidence on firm entry
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط