Entry and exit in recent US business cycles
| dc.contributor.author | Casares Polo, Miguel | |
| dc.contributor.department | Economía | es_ES |
| dc.contributor.department | Ekonomia | eu |
| dc.date.accessioned | 2016-05-10T07:40:34Z | |
| dc.date.available | 2016-05-10T07:40:34Z | |
| dc.date.issued | 2015 | |
| dc.description.abstract | I show evidence indicating that the variability of the total number of business units (establishments) has significantly increased in recent US business cycles, accounting for nearly 2/3 of real GDP fluctuations during the 2003-2012 decade. Next, I examine the role of business creation and destruction in an estimated DSGE-style model extended with endogenous entry and exit. Shocks on both entry and, especially, exit have played a crucial role on explaining the latest boom-bust cycle in the US economy. I also find that the estimated innovations of total factor productivity are positive and high in 2010-2012, which might be the consequence of the dramatic increase in the exit rates observed during the recession of 2008-2009. | en |
| dc.description.sponsorship | The author would like to thank the Spanish government (research project ECO2011-24304) for financial support. | en |
| dc.format.extent | 61 p. | |
| dc.format.mimetype | application/pdf | en |
| dc.identifier.uri | https://academica-e.unavarra.es/handle/2454/20633 | |
| dc.language.iso | eng | en |
| dc.relation.ispartofseries | Documentos de Trabajo DE - ES Lan Gaiak | es |
| dc.relation.ispartofseries | 1503 | en |
| dc.relation.projectID | info:eu-repo/grantAgreement/MICINN//ECO2011-24304/ES/ | |
| dc.rights | CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) | en |
| dc.rights.accessRights | info:eu-repo/semantics/openAccess | |
| dc.rights.uri | https://creativecommons.org/licenses/by-nc-nd/4.0/ | |
| dc.subject | Entry and exit | en |
| dc.subject | DSGE models | en |
| dc.subject | US business cycles | en |
| dc.title | Entry and exit in recent US business cycles | en |
| dc.type | info:eu-repo/semantics/workingPaper | |
| dspace.entity.type | Publication | |
| relation.isAuthorOfPublication | 308e2f24-fee5-4ddb-be38-6e7a11cabf44 | |
| relation.isAuthorOfPublication.latestForDiscovery | 308e2f24-fee5-4ddb-be38-6e7a11cabf44 |