Durable goods cycles
1999
Caplin, Andrew | Leahy, John Vincent
Abstract: We show that a straight forward approximation of the distribution of durable goods holdings gives rise to a tractable equilibrium (S, s) model of durable demand. We analyze both competitive and monopoly supply. We show that equilibrium interactions lead to elongated impulse responses in demand, to procyclical markups in response to demand shocks, and to countercyclical markups in response to cost shocks.
Afficher plus [+] Moins [-]Mots clés AGROVOC
Informations bibliographiques
Cette notice bibliographique a été fournie par National Agricultural Library
Découvrez la collection de ce fournisseur de données dans AGRIS