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Monopolistic competition and macroeconomic theory
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In this paper, the authors present a macroeconomic model with imperfect competition and the multiplier, and discuss the implications of such a model on the macroeconomic system and its implications on macroeconomic models.Abstract:
Introduction Part I. Some Macroeconomic Implications of Monopolistic Competition: Part II. A Macroeconomic Model with Imperfect Competition: Biographical Note for Chapter II Part III. Monopolistic Competition and the Multiplier.read more
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Low inflation, pass-through, and the pricing power of firms
TL;DR: In this paper, a microeconomic model of price setting is used to show that lower pass-through is caused by lower perceived persistence of cost changes, suggesting that the low inflation itself has caused the low passthrough, and an economy-wide model consistent with the micromodel is presented to illustrate how such changes in pricing power affect output and inflation dynamics in favorable ways, but can disappear quickly if monetary policy and expectations change.
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Promouvoir la croissance en Europe : vérités et mystifications
TL;DR: In this paper, a diagnostic of the situation europeenne qui repose sur la distinction entre deux regimes technologiques, l’un fonde sur l'imitation, l'autre sur linnovation, is presented.
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The Impact of Integration on Productivity and Welfare Distortions Under Monopolistic Competition
Swati Dhingra,John Morrow +1 more
TL;DR: In this article, the authors generalize the Spence-Dixit-Stiglitz framework to heterogeneous firms, addressing when the market provides optimal quantities, variety and productivity.
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The Concept of Equilibrium in Different Economic Traditions: An Historical Investigation
TL;DR: The origins of economic equilibrium are discussed in this article, where Adam Smith's Love of System 7. Statics and Dynamics in Classical Economics 8. Mathematical Revolution 9. The Dreamland of Leon Walras 10. The Subjectivist Challenge of the Austrian School 11. Monetary Equilibrium 12. Dynamic Analysis in Monetary Theory 13. The Impact of Uncertainty 14. Creative Entrepreneurship: Chaos or Coordination? 15. Evolutionary Economics 16. Disequilibrium Foundations of Equilibrium Analysis 17. Economics With or Without Equilibrium? References
Journal ArticleDOI
A Modern Guide to Keynesian Macroeconomics and Economic Policies
TL;DR: A Modern Guide to Keynesian Macroeconomics and Economic Policies Eckhard Hein and Engelbert Stockhammer (Eds)Cheltenham: Edward Elgar, 2011, 392 pp., £95.00 hardcoverISBN 978-1-84980-140-9 Eckhard He...