Bottom-up Markup Fluctuations

dc.contributor.author	Burstein, A.
dc.contributor.author	Carvalho, V. M.
dc.contributor.author	Grassi, B.
dc.date.accessioned	2020-12-17T11:40:44Z
dc.date.available	2020-12-17T11:40:44Z
dc.date.issued	2020-10-14
dc.identifier.other	CWPE2096
dc.identifier.other	C-INET2045
dc.identifier.uri	https://www.repository.cam.ac.uk/handle/1810/315199
dc.description.abstract	We study markup cyclicality in a granular macroeconomic model with oligopolistic competition. We characterize the comovement of firm, sectoral, and economy-wide markups with sectoral and aggregate output following firm-level shocks. We then quantify the model’s ability to reproduce salient features of the cyclical properties of markups in French administrative firm-level data, from the bottom (firm) level to the aggregate level. Our model helps rationalize various, seemingly conflicting, measures of markup cyclicality in the French data.
dc.publisher	Faculty of Economics, University of Cambridge
dc.relation.ispartofseries	Cambridge Working Papers in Economics
dc.relation.ispartofseries	Cambridge-INET Working Paper Series
dc.rights	All Rights Reserved
dc.rights.uri	https://www.rioxx.net/licenses/all-rights-reserved/
dc.subject	Markup Cyclicality
dc.subject	Oligopolistic Competition
dc.subject	Firm Dynamics
dc.subject	Granularity
dc.subject	Aggregate Fluctuations
dc.title	Bottom-up Markup Fluctuations
dc.type	Working Paper
dc.identifier.doi	10.17863/CAM.62308

Cambridge Working Papers in Economics (CWPE)
A new series of papers from the Faculty of Economics and the Department of Applied Economics, which supersedes the DAE Working Paper series