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Business Cycles and Oligopoly Supergames : Some Empirical Evidence on Prices and Margins
Domowitz, Ian; Petersen, Bruce C.; Hubbard, R. Glenn - 2021
There has been a significant interest on a theoretical level in the application of supergames to oligopoly behavior …
Persistent link: https://www.econbiz.de/10013216122
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Coordination cycles
Steiner, Jakub - In: Games and economic behavior 63 (2008) 1, pp. 308-327
Persistent link: https://www.econbiz.de/10003736799
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Shaped by Booms and Busts : How the Economy Impacts CEO Careers and Management Styles
Schoar, Antoinette - 2014
We show that economic conditions when managers enter the labor market have long-run effects on their career paths and … managerial styles. Managers who began their careers during recessions become CEOs more quickly, but at smaller firms. They also … environment is important to the formation and selection of managers …
Persistent link: https://www.econbiz.de/10013067126
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Trading on Sunspots
Jovanovic, Boyan - 2015
In a model with multiple Pareto-ranked equilibria we add trade in assets that pay based on the realization of a sunspot. Asset trading restricts the equilibrium set in a way that raises welfare by eliminating equilibria with a high likelihood of disasters. When the probability of a disaster is...
Persistent link: https://www.econbiz.de/10013031016
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A Supergame-Theoretic Model of Business Cycles and Price Wars During Booms
Rotemberg, Julio J.; Saloner, Garth - 2021
the collusive outcome is often greater when demand is high. To moderate this temptation,the optimizing oligopoly reduces … support our theory. (J.E.L. Classification numbers:020, 130, 610) …
Persistent link: https://www.econbiz.de/10013228647
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Economic conditions, elections, and the magnitude of foreign conflicts
Hess, Gregory D.; Orphanides, Athanasios - In: Journal of public economics 80 (2001) 1, pp. 121-140
Persistent link: https://www.econbiz.de/10001554363
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Can Structural Small Open Economy Models Account for the Influence of Foreign Disturbances?
Justiniano, Alejandro - 2010
This paper demonstrates that an estimated, structural, small open economy model of the Canadian economy cannot account for the substantial influence of foreign-sourced disturbances identified in numerous reduced-form studies. The benchmark model assumes uncorrelated shocks across countries and...
Persistent link: https://www.econbiz.de/10012758033
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Business Cycle Fluctuations and the Life Cycle : How Important is On-the-Job Skill Accumulation?
Hansen, Gary D. - 2010
We study the effects of on-the-job skill accumulation on average hours worked by age and the volatility of hours over the life cycle in a calibrated general equilibrium model. Two forms of skill accumulation are considered: learning by doing and on-the-job training. In our economy with learning...
Persistent link: https://www.econbiz.de/10012759693
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Liquidity and Trading Dynamics
Guerrieri, Veronica - 2010
How do financial frictions affect the response of an economy to aggregate shocks? In this paper, we address this question, focusing on liquidity constraints and uninsurable idiosyncratic risk. We consider a search model where agents use liquid assets to smooth individual income shocks. We show...
Persistent link: https://www.econbiz.de/10012759970
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Spontaneous Volatility of Output and Investment
Hall, Robert E. - 2010
Spontaneous shifts in output originating within the business sector are an important factor in aggregate fluctuations. This paper develops a simple two-component decomposition of the movement of real GNP. One component is the path that GNP would have followed in order to deliver the volume of...
Persistent link: https://www.econbiz.de/10012760156