This paper provides evidence that learning about demand is an important driver of firms' dynamics. We present a simple … model with Bayesian learning in which firms are uncertain about their idiosyncratic demand parameter in each of the markets … their beliefs following a new demand shock, the younger they are. To test this learning mechanism, we make use of a specific …

reduction in some countries have not been the accelerator sufficient for the global recovery. The general level of demand is low … demand, as well as the options available for removal of those causes and revitalization of the effects. One of the main … causes of decrease in demand in a long run is the asymmetrical distribution of income which has led to a reduction in …