Berentsen, Aleksander; Waller, Christopher J. - Federal Reserve Bank of St. Louis - 2009
that investigates the role of endogenous
�rm entry and exit on business cycle �uctuations.1 Studying entry behavior in a … macroecon-
omy is important for several reasons. First, a key business cycle fact, as shown by Bilbiie,
Ghironi and Melitz (2006 … prototypical real business
cycle, hence there is no role for monetary policy. All of the others papers in this area are
based on …