Entry dynamics, demand shocks and induced productivity fluctuations

Aloi, Marta and Dixon, Huw David ORCID: https://orcid.org/0000-0002-9875-8965 2003. Entry dynamics, demand shocks and induced productivity fluctuations. Ekonomia : The journal of the Cyprus Economic Society 6 (2) , pp. 115-146.

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Abstract

This paper analyses a small open economy Ramsey model with an endogenous labor supply and no capital. The number of firms is subject to adjustment costs, so that the entry dynamics is determined endogenously. We find that with imperfect competition, there is a first order effect of a demand shock which is absent in the Walrasian equivalent. We solve and analyse the dynamic model for permanent and temporary demand shocks.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory
Publisher:	Cyprus Economic Society
ISSN:	1025-5508
Last Modified:	24 Oct 2022 11:59
URI:	https://orca.cardiff.ac.uk/id/eprint/49928

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