期刊名称：Discussion Paper / Département des Sciences Économiques de l'Université Catholique de Louvain
印刷版ISSN：1379-244X
出版年度：2009
卷号：1
出版社：Université catholique de Louvain
摘要：Empirical evidence suggests thatmost firms operate in imperfectly competitivemarkets.
We develop a search-matching model between wholesalers and retailers. Firms face search
costs and formlong-termrelationships. Price bargain results in both wholesaler and retailer
markups, depending on firms’ relative bargaining power. We simulate themodel to explore
the role of product market search frictions in business cycles. We show that the way search
costs are modelled is crucial to provide a realistic picture of firms’ business environment
and improve the cyclical properties of an otherwise standard real business cycle model.
