Dynamic Macroeconomics With Imperfect Competition
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Dynamic Macroeconomics With Imperfect Competition
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Author : Leo Kaas
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Dynamic Macroeconomics With Imperfect Competition written by Leo Kaas and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
This thesis was stimulated throughout the time of my participation in a research project on Dynamic Macroeconomics, supported by the German Research Foundation (DFG). The starting point was the central question of how to integrate price setting firms in a dynamic disequilibrium model. Almost all recent literature on imperfect competition in macroeconomics applies the objective demand approach by assuming that firms know the true demand curve they are faced with. While this approach can be ap plied in temporary monetary equilibrium models, it proves inadequate for formulating price adjustment in a dynamic disequilibrium model, where it has to be replaced by the concept of subjective demand. Based on this distinction, the thesis starts out with a comparison of the concepts of subjective and objective demand in an abstract framework and surveys the literature on general equilibrium theory with imperfect competition. The objective demand approach is criticized not only on the grounds of its strong rationality requirements and existence problems, but also by the observation that it cannot be applied successfully to characterize determinate rational expectations equilibria in intertemporal macroeco nomics. Finally, price setting firms using subjective demand functions are integrated in a dynamic disequilibrium model in order to study mo nopolistic and oligopolistic price adjustment.
The Macroeconomics Of Imperfect Competition And Nonclearing Markets
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Author : Jean-Pascal Benassy
language : en
Publisher: MIT Press
Release Date : 2005-01-14
The Macroeconomics Of Imperfect Competition And Nonclearing Markets written by Jean-Pascal Benassy and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-01-14 with Business & Economics categories.
In this book, Jean-Pascal Benassy attempts to integrate into a single unified framework dynamic macroeconomic models reflecting such diverse lines of thought as general equilibrium theory, imperfect competition, Keynesian theory, and rational expectations. He begins with a simple microeconomic synthesis of imperfect competition and nonclearing markets in general equilibrium under rational expectations. He then applies this framework to a large number of dynamic macroeconomic models, covering such topics as persistent unemployment, endogenous growth, and optimal fiscal-monetary policies. The macroeconomic methodology he uses is similar in spirit to that of the popular real business cycles theory, but the scope is much wider. All of the models are solved "by hand," making the underlying economic mechanisms particularly clear.
The Macroeconomics Of Imperfect Competition And Nonclearing Markets
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Author : Jean-Pascal Bénassy
language : en
Publisher: Mit Press
Release Date : 2002
The Macroeconomics Of Imperfect Competition And Nonclearing Markets written by Jean-Pascal Bénassy and has been published by Mit Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
A single unified framework that integrates dynamic macroeconomics models on general equilibrium theory, imperfect competition, nonclearing markets, and rational expectations.
The Macroeconomics Of Imperfect Competition And Nonclearing Markets
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Author : J.P. Bénassy
language : en
Publisher:
Release Date : 2002
The Macroeconomics Of Imperfect Competition And Nonclearing Markets written by J.P. Bénassy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Macroeconomics And Imperfect Competition
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Author : Marta Aloi
language : en
Publisher:
Release Date : 1999
Macroeconomics And Imperfect Competition written by Marta Aloi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets
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Author : Julio Rotemberg
language : en
Publisher:
Release Date : 1993
Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets written by Julio Rotemberg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Competition categories.
This paper discusses the consequences of introducing imperfectly competitive product markets into an otherwise standard neoclassical growth model. We pay particular attention to the consequences of imperfect competition for the explanation of fluctuations in aggregate economic activity. Market structures considered include monopolistic competition, the 'customer market' model of Phelps and Winter, and the implicit collusion model of Rotemberg and Saloner. Empirical evidence relevant to the numerical calibration of imperfectly competitive models is reviewed. The paper then analyzes the effects of imperfect competition upon the economy's response to several kinds of real shocks, including technology shocks, shocks to the level of government purchases, and shocks that change individual producers' degree of market power. It also discusses the role of imperfect competition in allowing for fluctuations due solely to self-fulfilling expectations.
B Nassy Jean Pascal The Macroeconomics Of Imperfect Competition And Nonclearing Markets
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Author : Leo Kaas
language : en
Publisher:
Release Date : 2014
B Nassy Jean Pascal The Macroeconomics Of Imperfect Competition And Nonclearing Markets written by Leo Kaas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Protection In A Dynamic Macroeconomic Model With Imperfect Competition
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Author : John Fender
language : en
Publisher:
Release Date : 1995
Protection In A Dynamic Macroeconomic Model With Imperfect Competition written by John Fender and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Economic policy categories.
The New Macroeconomics
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Author : Huw David Dixon
language : en
Publisher: Cambridge University Press
Release Date : 1995-10-19
The New Macroeconomics written by Huw David Dixon and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-10-19 with Business & Economics categories.
Brings together leading researchers from the USA and Europe to examine the literature on the new macroeconomics.
Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets
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Author : Julio Rotemberg
language : en
Publisher: Forgotten Books
Release Date : 2015-07-23
Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets written by Julio Rotemberg and has been published by Forgotten Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-23 with Business & Economics categories.
Excerpt from Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets This paper discusses the consequences of introducing imperfectly competitive product into an otherwise standard neoclassical growth model. We pay particular attention to the consequences of imperfect competition for the explanation of fluctuations in aggregate economic activity. Market structures considered include monopolistic competition, the "customer market" model of Phelps and Winter, and the implicit collusion model of Rotemberg and Saloner. Empirical evidence relevant to the numerical calibration on imperfectly competitive models is reviewed. The paper then analyzes the effects of imperfect competition upon the economy's response to several kinds of real shocks, including technology shocks, shocks to the level of government purchases, and shocks that change individual producers' degree of market power. It also discusses the role of imperfect competition in allowing for fluctuations due solely to self-fulfilling expectations. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.