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Does regulation reduce productivity? Evidence from regulation of the U.S. beet-sugar manufacturing industry during the Sugar Acts, 1934-74

Bridgman, Benjamin; Qi, Shi; James A. Schmitz, Jr. - Federal Reserve Bank of Minneapolis - 2007

.S. industry has been protected from foreign competition for nearly 150 years, it was regulated only during the Sugar Act period …

Persistent link: https://www.econbiz.de/10005367688

Modelling complementarity in monopolistic competition

Matsuyama, Kiminori - Federal Reserve Bank of Minneapolis - 1993

In recent years, monopolistic competition models have frequently been applied in macroeconomics, international and …

Persistent link: https://www.econbiz.de/10005712955

Competition and productivity: a review of evidence

Holmes, Thomas J.; James A. Schmitz, Jr. - Federal Reserve Bank of Minneapolis - 2010

Does competition spur productivity? And if so, how does it do so? These have long been regarded as central questions in …

Persistent link: https://www.econbiz.de/10008489229

Capacity precommitment as a barrier to entry: a Bertrand-Edgeworth approach

Allen, Beth; Deneckere, Raymond; Faith, Tom; Kovenock, Dan - Federal Reserve Bank of Minneapolis - 1995

This paper considers the role of capacity as a strategic entry deterrent for a game in which the incumbent and entrant sequentially precommit to capacity levels before competing in price, possibly using mixed strategies. Depending on the magnitudes of the fixed set-up cost, the cost of capacity,...

Persistent link: https://www.econbiz.de/10005498507

Perfectly competitive innovation

Boldrin, Michele; Levine, David K. - Federal Reserve Bank of Minneapolis - 2002

We construct a competitive model of innovation and growth under constant returns to scale. Previous models of growth … under constant returns cannot model technological innovation. Current models of endogenous innovation rely on the interplay … innovation and sees the nonrivalrous nature of ideas as a natural conduit to increasing returns. The results here challenge the …

Persistent link: https://www.econbiz.de/10005498512

Nonuniqueness of solutions in applied general equilibrium models with scale economies and imperfect competition

Mercenier, Jean - Federal Reserve Bank of Minneapolis - 1994

Applied general equilibrium models with imperfect competition and economies of scale have been extensively used for …

Persistent link: https://www.econbiz.de/10005498522

Competitive equilibria with limited enforcement

Kehoe, Patrick J.; Perri, Fabrizio - Federal Reserve Bank of Minneapolis - 2003

We show how to decentralize constrained efficient allocations that arise from enforcement constraints between sovereign nations. In a pure exchange economy, these allocations can be decentralized with private agents acting competitively and taking as given government default decisions on foreign...

Persistent link: https://www.econbiz.de/10005498555

A working paper on bank structure and competition

Jessup, Paul F. - Federal Reserve Bank of Minneapolis - 1967

Persistent link: https://www.econbiz.de/10005498558

The economic performance of cartels: evidence from the New Deal U.S. sugar manufacturing cartel, 1934-74

Bridgman, Benjamin; Qi, Shi; James A. Schmitz, Jr. - Federal Reserve Bank of Minneapolis - 2009

We study the U.S. sugar manufacturing cartel that was created during the New Deal. This was a legal-cartel that lasted 40 years (1934-74). As a legal-cartel, the industry was assured widespread adherence to domestic and import sales quotas (given it had access to government enforcement powers)....

Persistent link: https://www.econbiz.de/10008610995

New and larger costs of monopoly and tariffs

James A. Schmitz, Jr. - Federal Reserve Bank of Minneapolis - 2012

) and the industry transitions quickly from monopoly to competition. If there are costs to monopoly and high tariffs within … means to reduce competition among members of the monopoly. Although the mechanisms divide rents, they also destroy them (by …

Persistent link: https://www.econbiz.de/10011026985