search query: @author Schivardi, F. / total: 8
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| Author: | Schivardi, F. |
| Title: | Reallocation and learning over the business cycle |
| Journal: | European Economic Review
2003 : FEB, VOL. 47:1, p. 95-111 |
| Index terms: | Business cycles Strategy Learning Models |
| Language: | eng |
| Abstract: | This paper shows how cyclical aggregate shocks can stimulate structural reallocation activities, which in turn amplify the effect of the shock. It analyzes the informational aspects of restructuring activities and their interplay with aggregate shocks. A model is developed in which production units are uncertain about the value of staying in the market and learn about it over time in a Bayesian fashion. |
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