Marketing technology in macroeconomics
School of Commerce, Meiji University, 1-1 Kanda-Surugadai, Chiyoda-ku, Tokyo 101-8301, Japan
SpringerPlus 2012, 1:28 doi:10.1186/2193-1801-1-28Published: 4 October 2012
In this paper, we incorporate a marketing technology into a dynamic stochastic general equilibrium model by assuming a matching friction for consumption. An improvement in matching can be interpreted as an increase in matching technology, which we call marketing technology because of similar properties. Using a simulation analysis, we confirm that a positive matching technology shock can increase output and consumption.