Subject: Advertising, DSGE model, Business Cycle fluctuations, Bayesian
jel: jel:D11 | jel:E32 | jel:M37 | jel:J22
This paper provides new empirical evidence of quarterly U.S. aggregate advertising expenditures, showing that advertising has a well defined pattern over the Business Cycle. To understand this pattern we develop a general equilibrium model where targeted advertising inc... View more
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