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Innovation, Competition and Welfare-Enhancing Monopoly

Darby, Michael R. - 2006

So long as the entry and exit of firms using the generic technology sets the price in an industry, one or more price-taking firms can coexist with proprietary technologies yielding more or less substantial quasi-rents to the sunk development costs. Consumer welfare is increased if an innovator...

Persistent link: https://www.econbiz.de/10012466574

Benefits and Spillovers of Greater Competition in Europe : A Macroeconomic Assesment

Bayoumi, Tamim - 2004

Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and … labor markets, this paper estimates the macroeconomic benefits and international spillovers of an increase in competition …, greater competition produces large effects on macroeconomic performance, as measured by standard indicators. In particular, we …

Persistent link: https://www.econbiz.de/10012468277

Rising Markups and the Role of Consumer Preferences

Döpper, Hendrik; MacKay, Alexander; Miller, Nathan H.; … - National Bureau of Economic Research - 2024

We characterize the evolution of markups for consumer products in the United States from 2006 to 2019. Using detailed data on prices and quantities for products in more than 100 distinct product categories, we estimate flexible demand systems and recover markups under an assumption that firms...

Persistent link: https://www.econbiz.de/10014635702

Distributed Ledgers and Secure Multi-Party Computation for Financial Reporting and Auditing

Cao, Sean Shun; Cong, Lin William; Yang, Baozhong - National Bureau of Economic Research - 2024

, we analyze firm misreporting, auditor monitoring and competition, and regulatory policy in a unified model. A federated …

Persistent link: https://www.econbiz.de/10015056089

A Structural Empirical Model of Firm Growth, Learning, and Survival

Abbring, Jaap H. - 2003

We present a structural model of firm growth, learning, and survival and consider its identification and estimation. In the model, entrepreneurs have private and possibly error-ridden observations of persistent and transitory shocks to profit. We demonstrate that the model's parameters can be...

Persistent link: https://www.econbiz.de/10012468986

Sticky Prices, Coordination and Collusion

Driscoll, John C. - 1999

New Keynesian models of price setting under monopolistic competition involve two kinds of inefficiency: the price level … asymmetric. Implications for the welfare cost of fluctuations also differ from the standard monopolistic competition case …

Persistent link: https://www.econbiz.de/10012471622

Monopolistic Competition and Labor Market Adjustment in the Open Economy

Aizenman, Joshua - 1987

This paper explains prices, output and employment adjustment In an open economy characterized by a monopolistic competitive market structure where goods prices are flexible while wages are determined by contracts that pre-set the wage path for several periods. The paper solves the rational...

Persistent link: https://www.econbiz.de/10012476917

Monopolistic Competition, Relative Prices and Output Adjustment in the Open Economy

Aizenman, Joshua - 1986

The purpose of this paper is to explain price and output dynamics in an open economy characterized by a monopolistic competitive market structure in which pricing decisions incur costs. That lead producers to pre-set the price path for several periods. The paper derives an optimal pricing rule,...

Persistent link: https://www.econbiz.de/10012477290

Monopolistic Competition, Aggregate Demand Externalities and Real Effects of Nominal Money

Blanchard, Olivier J. - 1985

A long standing issue in macroeconomics is that of the relation of imperfect competition to fluctuations in output. In … this paper we examine the relation between monopolistic competition and the role of aggregate demand in the determination …

Persistent link: https://www.econbiz.de/10012477306

Monopolistic Competition and Deviations from PPP

Aizenman, Joshua - 1985

The purpose of this paper is to explain deviations from PPP in an economy charaterived by a mononolistic competitive market structure in which pricing decisions incur costs. That lead producers to pre-set the price path for several periods. The paper derives an optimal pricing rule, including...

Persistent link: https://www.econbiz.de/10012477534

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