Multi-Product Establishments and Product Dynamics
Masashige Hamano () and
No e168, Working Papers from Tokyo Center for Economic Research
The current paper builds a general equilibrium model based on heterogeneous productivities of establishments and heterogeneous tastes at the product level. Establishments choose endogenously their product mix over the business cycle given different income elasticities across products in consumer preferences. We calibrate and estimate the model's shock processes with Japanese data and find that (de)regulation policy at entry, incumbent firms or establishments and each product level provide substantially different outcomes, thereby providing a caveat for policy debate.
Pages: 60 pages
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Persistent link: https://EconPapers.repec.org/RePEc:tcr:wpaper:e168
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