English, Article, Journal or magazine article edition: Cyclical Pricing of Durable Goods Mark Bils

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Bookmark: http://trove.nla.gov.au/version/140285
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Cyclical Pricing of Durable Goods
Author
  • Mark Bils
Physical Description
  • preprint
Notes
  • I examine price markups in monopolisticly-competitive markets that experience fluctuations in demand because the economy experiences cyclical fluctuations in productivity. Markups depend positively on the average income of purchasers in the market. For a nondurable good average income of purchasers is procyclical; so the markup is procyclical. For a durable good. however. the average income of purchasers is likely to decrease in booms because low income consumers of the good concentrate their purchases in boom periods; so the markup is likely countercyclical. This is particularly true for growing markets. I find markups make the aggregate economy fluctuate more in response to productivity if goods are sufficiently durable.
  • RePEc:nbr:nberwo:3050
Language
  • English
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