The Cyclical Behavior of the Price-Cost Markup
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A countercyclical markup of price over marginal cost is the key transmission mechanism for demand shocks in textbook New Keynesian (NK) models. This paper re-examines the foundation of those models. We study the cyclicality of markups in the private economy as well as in detailed manufacturing
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美国国家经济研究局创建时间：
2013-06-01
