What drives markups? Evolutionary pricing in an agent-based stock-flow consistent macroeconomic model - Archive ouverte HAL Accéder directement au contenu
Pré-Publication, Document De Travail Année : 2018

What drives markups? Evolutionary pricing in an agent-based stock-flow consistent macroeconomic model

Isabelle Salle
  • Fonction : Auteur
  • PersonId : 1008939
Marc Lavoie

Résumé

This paper studies coordination between firms in a multi-sectoral macroeconomic model with endogenous business cycles. Firms are both in competition and interdependent, and set their prices with a markup over unit costs. Markups are heterogeneous and evolve under market pressure. We observe a systematic coordination within firms in each sector, and between each sector. The resulting pattern of relative prices are consistent with the labor theory of value. Those emerging features are robust to technology shocks.
Fichier principal
Vignette du fichier
DT-CEPN-2017-03.pdf (5.78 Mo) Télécharger le fichier
Origine : Fichiers produits par l'(les) auteur(s)
Loading...

Dates et versions

hal-01486597 , version 1 (10-03-2017)
hal-01486597 , version 2 (13-06-2018)

Identifiants

Citer

Pascal Seppecher, Isabelle Salle, Marc Lavoie. What drives markups? Evolutionary pricing in an agent-based stock-flow consistent macroeconomic model. 2018. ⟨hal-01486597v2⟩
517 Consultations
1519 Téléchargements

Altmetric

Partager

Gmail Facebook X LinkedIn More