We estimate the macroeconomic benefits and international spillovers of an increase in competition using a general …-equilibrium simulation model with nominal rigidities and monopolistic competition in product and labor markets. We draw three conclusions … after calibrating the model to the euro area against the rest of the industrial world. First, greater competition produces …

industry is unusual because there exist two horizontally segmented retail markets with different degrees of competition: the … predicts that competition is the key driver of the rate at which technology is adopted. …