2 edition of General equilibrium and imperfect competition found in the catalog.
General equilibrium and imperfect competition
M. W. Cripps
|Statement||M.W. Cripps and G.D. Myles.|
|Series||Warwick economic research papers / University of Warwick Department of Economics -- no.295|
|Contributions||Myles, Gareth D.|
|The Physical Object|
|Number of Pages||29|
This volume is the result of a conference held at the Institute for Advanced Studies, Vienna. There is still a gap reflected both in fundamental meth odological differences and in the style of analysis between the Walrasian (and Edgeworthian) tradition of general equilibrium theory and the theo retical and policy problems raised in the framework of Keynesian and post-Keynesian s: 1. 'This elegant and enjoyable book describes the theory of imperfect competition in an explicitly general-equilibrium framework The main strength of the book is that it provides a coherent and precise narrative of developments in two theoretical areas to which the author has made important contributions.
Abstract. We show how, in general equilibrium models featuring increasing returns, imperfect competition, and endogenous markups, changes in the scale of economic activity affect the income distribution across factors. Some General-Equilibrium Considerations for the Analysis of Oil Import Restrictions. The Energy Journal, Vol. 8, Issue. 4, This book expounds trade theory emphasizing that a trading equilibrium is general rather than partial, and is often best modelled using dual or envelope functions. studies imperfect competition and intra-industry.
University of Leipzig Topics such as welfare economics, general equilibrium, game theory, and imperfect competition will be covered in ResEc next semester. Fundamentally the purpose of this course is to introduce you to the building blocks of microeconomic theory. In the past ten years, the strengths of general equilibrium models and the corresponding deficiencies of Keynesian and monetarist models of the s have induced macroeconomists to begin applying general equilibrium models. This book describes some general equilibrium models that are dynamic, that have been built to help interpret time-series.
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Imperfect Competition and General Equilibrium: Elements for a New Approach - Oxford Scholarship The authors study the introduction of price‐making agents into the general equilibrium model.
(PDF) General Equilibrium with Imperfect Competition | Egbert Dierker - is a platform for academics to share research papers. Imperfect Competition and General Equilibrium Imperfect Competition and General Equilibrium Chapter: (p) 6 Imperfect Competition and General Equilibrium Source: Strategic Interaction and Markets Author(s): Jean J.
Gabszewicz Publisher: Oxford University Press. 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 by: It is the purpose of this chapter to present several models of general equilibrium with imperfect competition and to show how they fit into the framework of Chapter 2.
All of these models are static in the sense that all trade, consumption and production decisions take place at one stage, i.e.
time has no meaning in these : Leo Kaas. GENERAL EQUILIBRIUM AND IMPERFECT COMPETITION: PROFIT FEEDBACK EFFECTS AND PRICE NORMALISATIONS. Martin Cripps and Gareth Myles (). The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics Keywords: economic equilibrium; competition; profit; prices (search for similar items in EconPapers) Pages: 29 pages.
This paper employs a general equilibrium model of oligopolistic competition which implies distortions both at the intensive and extensive margin. If factor prices do not equalize, imperfect. of general equilibrium with perfect competition. While the latter was fully devel-oped and systematized in the s (Arrow and Debreu,Debreu, ), the lirst attempt to introduce imperfect competition in a general equilibrium model was made as late as by Negishi.
Since then a large number of contributions. Cornwall R.R. () Marketing Costs and Imperfect Competition in General Equilibrium.
In: Schwödiauer G. (eds) Equilibrium and Disequilibrium in Economic Theory. Theory and Decision Library (An International Series in the Philosophy and Methodology of. Abstract In a pure exchange economy we propose a general equilibrium concept under imperfect competition, the \Cournotian Monopolistic Competition Equilibrium", and compare it to the Cournot-Walras and the Monopolistic Competition concepts.
The advantage of the proposed concept is to require less computational ability from the agents. Abstract This paper employs a general equilibrium model of imperfect competition and trade in which capital is used to establish rms and labor is used for production.
We show that two dierent types of equilibria may exist, one with factor price equalization and one with dierent factor prices. Even if prices are perfectly flexible, imperfect competition can affect the influence of fiscal policy in terms of the multiplier. Huw Dixon and Gregory Mankiw developed independently simple general equilibrium models showing that the fiscal multiplier could be increasing with the degree of imperfect competition in the output market.
Abstract In a pure exchange economy we propose a general equilibrium concept under imperfect competition, the “Cournotian Monopolistic Competition. Equilibrium,” and compare it to the Cournot–Walras and the Monopolistic Competition concepts.
The advantage of the proposed concept is to require less computational ability from the agents. General Equilibrium Tax Incidence under Imperfect Competition: A Quantity-setting Supergame Analysis. The author argues that the only possible microeconomic theory is the one based on the general equilibrium model.
After a historical account of efforts to incorporate agents with market power into the general equilibrium model, he discusses the problems faced in this area and possible avenues for future research. He sees, as one of the major stumbling blocks to this endeavour, the difficulties.
New Book. 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. General Equilibrium with Imperfect Competition Egbert Dierker. Institut für Höhere Studien and Institut für Volkswirtschaftslehre, Universität Wien General Equilibrium with Imperfect Competition, Journal of the European Economic Association, Volume.
It covers standard topics such as preference relations, demand theory and applications, producer theory, choice under uncertainty, partial and general equilibrium, monopoly, game theory and imperfect competition, externalities and public goods, and contract theory; but its intuitive and application-oriented approach provides students with a bridge to more technical topics.
Journals & Books; Help; COVID campus closures: see options for getting or retaining Remote Access to subscribed content Download PDF Download. Share. Export. Advanced. Journal of International Economics. Vol Issue 1, SeptemberPages Trade and imperfect competition in general equilibrium.
This book expounds trade theory emphasizing that a trading equilibrium is general rather than partial, and is often best modelled using dual or envelope functions. This yields a compact treatment 5/5(1).
EQUILIBRIUM MARKET VOLA TILITY IN IMPERFECT COMPETITION OF GENERAL EQUILIBRIUM T able 4. Pareto-improving strategy proﬁles and pa yoﬀs. for .imperfect competition into a general equilibrium framework by also modeling the mar-ket for rm assets.
In order to do so, we sacri ce generality and extend the famous Dornbusch-Fischer-Samuelson (DFS) model, Dornbusch et al. () to oligopolistic competition such that we do not take industry structures as given, but determine them.Benassy, Jean-Pascal (), The macroeconomics of imperfect competition and nonclearing markets: A dynamic general equilibrium approach, Cambridge and London: MIT Press Citanna, Alessandro (), “ Continua of Underemployment Equilibria Reflecting Coordination Failures, also at Walrasian Prices,” Journal of Mathematical Economics,