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Title: Endogenous Market Structure, Occupational Choice, and Growth Cycles
Authors: Varvarigos, Dimitrios
Gil-Molto, Maria José
First Published: 1-Jan-2016
Publisher: Cambridge University Press (CUP)
Citation: Macroeconomic Dynamics, 2016, 20 (1), pp. 70-94
Abstract: We model an industry that supplies intermediate goods in a growing economy. Agents can choose whether to provide labor or to become firm owners and compete in the industry. The idea that entry is determined through occupational choice has major implications for the economy's dynamics. Particularly, the results show that economic dynamics are governed by endogenous volatility in the determination of both the number of industry entrants and in the growth rate of output. Consequently, we argue that occupational choice and the structural characteristics of the endogenous market structure can act as both the impulse source and the propagation mechanism of economic fluctuations.
DOI Link: 10.1017/S1365100514000157
ISSN: 1365-1005
eISSN: 1469-8056
Version: Post-print
Status: Peer-reviewed
Type: Journal Article
Rights: Copyright © Cambridge University Press 2014 . Deposited with reference to the publisher’s archiving policy available on the SHERPA/RoMEO website.
Appears in Collections:Published Articles, Dept. of Economics

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