On the counter-cyclicality of prices and markups in a Cournot model of entry
Jose M. Plehn-Dujowich
Economics Letters, 2008, vol. 99, issue 2, 310-313
We prove in a Cournot model that the price and markup are counter-cyclical due to changes in the extent of competition if the income effect is decreasing in the price, as occurs when preferences are homothetic or demand is isoelastic.
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