Add to ORKGRecent U.S. evidence suggests that the response of the labor share to a productivity shock is characterized by countercyclicality and overshooting. These ndings cannot be easily reconciled with existing business cycle models. We extend the standard model of search and matching in the labor market by considering strategic interactions among an endogenous number of producers. This leads to countercyclical price markups. While Nash bargaining is suffcient to capture the labor share countercyclicality, we show that countercyclical markups are key to address the overshootin
Two business cycle models with endogenous firm and product entry are estimated by matching impulse r...
Countercyclical markups are a key transmission mechanism in many endogenous business cycle models. Y...
Shifts in the extent of competition, which affect markups, are possible sources of aggregate fluctu-...
Recent U.S. evidence suggests that the response of the labor share to a productivity shock is charac...
Recent U.S. evidence suggests that the response of labor share to a productivity shock is characteri...
Recent U.S. evidence suggests that the response of labor share to a productivity shock is characteri...
Abstract We propose a model characterized by strategic interactions among an endogenous number of pr...
The labor share fluctuates over the business cycle. To explain this behavior, we develop a novel mod...
We propose a flexible prices model where endogenous market structures and search and matching fricti...
In order to explain countercyclical markups, a simple two-period model of industry dynamics is cons...
Abstract We propose a flexible prices model where endogenous market structures and search and matchi...
In macroeconomics, economists introduce most frequently imper-fect competition on product markets us...
International audienceIn macroeconomics, economists introduce most frequently imperfect competition ...
We propose a flexible prices model where endogenous market structures and search and matching fricti...
The cyclicality of markups is crucial to understanding the propagation of shocks and the co- movemen...
Two business cycle models with endogenous firm and product entry are estimated by matching impulse r...
Countercyclical markups are a key transmission mechanism in many endogenous business cycle models. Y...
Shifts in the extent of competition, which affect markups, are possible sources of aggregate fluctu-...
Recent U.S. evidence suggests that the response of the labor share to a productivity shock is charac...
Recent U.S. evidence suggests that the response of labor share to a productivity shock is characteri...
Recent U.S. evidence suggests that the response of labor share to a productivity shock is characteri...
Abstract We propose a model characterized by strategic interactions among an endogenous number of pr...
The labor share fluctuates over the business cycle. To explain this behavior, we develop a novel mod...
We propose a flexible prices model where endogenous market structures and search and matching fricti...
In order to explain countercyclical markups, a simple two-period model of industry dynamics is cons...
Abstract We propose a flexible prices model where endogenous market structures and search and matchi...
In macroeconomics, economists introduce most frequently imper-fect competition on product markets us...
International audienceIn macroeconomics, economists introduce most frequently imperfect competition ...
We propose a flexible prices model where endogenous market structures and search and matching fricti...
The cyclicality of markups is crucial to understanding the propagation of shocks and the co- movemen...
Two business cycle models with endogenous firm and product entry are estimated by matching impulse r...
Countercyclical markups are a key transmission mechanism in many endogenous business cycle models. Y...
Shifts in the extent of competition, which affect markups, are possible sources of aggregate fluctu-...