Bilbiie, Florin; Ghironi, Fabio; Melitz, Marc - HAL - 2012
determination of the number of producers and products over the business cycle. Economic expansions induce higher entry rates by … business cycle model with respect to the implied second-moment properties of key macroeconomic aggregates. In addition, our … costs and a time-to-build lag) generates a new and potentially important endogenous propagation mechanism for real business …