Closed and Open Economy Models of Business Cycles with Marked Up and Sticky Prices
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Shifts in the extent of competition, which affect markup ratios, are possible sources of aggregate business fluctuations. Markups are countercyclical, and booms are times at which the economy operates more efficiently. We begin with a real model in which markup ratios correspond to the prices of
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美国国家经济研究局创建时间：
2000-12-01
