Lumpy Consumer Durables, Market Power, and Endogenous Business Cycles

This paper shows that lumpy consumer durables and market power can generate endogenous cycles consistent with the facts. Past sales determine the current market size of durable goods. Larger past sales, ceteris paribus, thus naturally result in a smaller current market size and income. In this manner, the seeds of a downturn are sown in an upturn

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Year of publication:	2003
Authors:	Krishna, Kala ; Sahin, Cemile
Publisher:	[S.l.] : SSRN
Subject:	Marktmacht \| Market power \| Dauerhafte Konsumgüter \| Durable goods \| Konjunkturtheorie \| Business cycle theory \| Einkommensverteilung \| Income distribution \| Konsumgüter \| Consumer goods

Extent:	1 Online-Ressource (21 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 2003 erstellt
Other identifiers:	10.2139/ssrn.267899 [DOI]
Classification:	E32 - Business Fluctuations; Cycles ; E13 - Neoclassical ; E51 - Money Supply; Credit; Money Multipliers ; D11 - Consumer Economics: Theory ; D42 - Monopoly
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014132343