Monetary Policy and Business Cycles with Endogenous Entry and Product Variety

Florin O. Bilbiie, Fabio Ghironi, Marc J. Melitz

NBER Working Paper No. 13199
Issued in June 2007

---- Acknowledgments ----

For helpful comments, we thank Daron Acemoglu, Virgiliu Midrigan, Gernot Müller, Julio Rotemberg, Michael Woodford, and participants in the Twenty-second NBER Annual Conference on Macroeconomics, the Thirty-eighth Konstanz Seminar on Monetary Theory and Policy, and a seminar at Boston College. We are grateful to Massimo Giovannini, Margarita Rubio, and Frank Virga for excellent research assistance. Remaining errors are our responsibility. Bilbiie thanks the NBER for hospitality as a Visiting Fellow while this paper was written. Ghironi and Melitz thank the NSF for financial support through a grant to the NBER. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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