The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Endogenous Entry, Product Variety, and Business Cycles
Open accessAbstract
This paper builds a framework for the analysis of macroeconomic fluctuations that incorporates the endogenous determination of the number of producers and products over the business cycle. Economic expansions induce higher entry rates by prospective entrants subject to sunk investment costs. The sluggish response of the number of producers generates a new and potentially important endogenous propagation mechanism for business cycle models. The return to investment determines household saving decisions, producer entry, and the allocation of labor across sectors. Our framework replicates several features of business cycles and predicts procyclical profits even for preference specifications that imply countercyclical markups.
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Citations
Cites
Endogenous Technological Change
Romer, P. M. (1990) · Journal of Political Economy · doi:10.1086/261725 · Cited by 17,711
The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity
Melitz, M. (2002) · doi:10.3386/w8881 · Cited by 2,996
Self-citation
Cited by
Product Creation and Destruction: Evidence and Price Implications
Broda, C., & Weinstein, D. E. (2010) · American Economic Review · doi:10.1257/aer.100.3.691 · Cited by 490
Firms, Destinations, and Aggregate Fluctuations
(2014) · Econometrica · doi:10.3982/ecta11041 · Cited by 369
Bernard, A. B., Jensen, J. B., Redding, S. J., & Schott, P. K. (2009) · American Economic Review · doi:10.1257/aer.99.2.487 · Cited by 338
Metadata
- Authors
- Bilbiie, F. O., Ghironi, F., & Melitz, M. J.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 2012-04
- Volume
- 120
- Issue
- 2
- Pages
- 304-345
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2095832644
- Cited by
- 599
- References
- 2
- FWCI
- 41.55
- Type
- journal article
- Language
- en
- Open access
- green
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- Bilbiie, F. O., Ghironi, F., & Melitz, M. J. (2012). Endogenous Entry, Product Variety, and Business Cycles. Journal of Political Economy. https://doi.org/10.1086/665825
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
