business cycle facts

A note on firm entry, markups and the business cycle

JEL codes: 
E22
Version Date: 
Jul 2013
Author/s: 
Abstract: 

This paper proposes a monetary model with firm entry as a means for alleviating the difficulties of real business cycle models in reproducing the smoothness and persistence of macroeconomic variables together with the volatility of profits and markups.

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Economic Fluctuations in Central and Eastern Europe: The Facts

JEL codes: 
E32
Version Date: 
Dec 2004
Author/s: 
Abstract: 

We carry out a detailed analysis of quarterly frequency dynamics in macroeconomic aggregates in twelve countries of Central and Eastern Europe. The facts we document include the variability and persistence in and the co-movement among output, and other major real and nominal variables. We find that consumption is highly volatile and government spending is procyclical.

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