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We provide a methodology to study the role of market distortions on the emergence of indeterminacy and bifurcations. Most of the specific market imperfections considered in the related literature are particular cases of our framework. Comparing them we obtain several equivalence results in terms...
Persistent link: https://www.econbiz.de/10010278392
markets. We use a dynamic structural model to estimate retail productivity in a local market setting. In particular, we … provide a general strategy of how to measure the causal effect of entry of large stores on productivity separate from demand … in Sweden, we find that large entrants force low productivity stores to exit and surviving stores to increase their …
Persistent link: https://www.econbiz.de/10010320396
This paper studies the aggregate substitution and expansion effects triggered by changes in input prices, in a context where firms supply a homogenous commodity and compete in quantities à la Cournot. We derive a sufficient condition for the existence of a Cournot equilibrium and show that this...
Persistent link: https://www.econbiz.de/10010299963
The economic effects of environmental taxes depend on the market structure. Under imperfect competition with free entry and exit, environmental taxes have an impact on economies of scale by changing the number and size of firms. Whether economies of scale rise or fall in a particular industry...
Persistent link: https://www.econbiz.de/10010297742
This paper considers the technical aspects and the consequences, in terms of simulation results and policy assessment, of introducing imperfect competition in a CGE model. The modifications to the standard CGE framework needed to model imperfect competition in some industries are briefly...
Persistent link: https://www.econbiz.de/10010312626
This paper attempts to model directly the folk theorem of spatial economics, according to which increasing returns to scale are essential for understanding the geographical distributions of activity. The model uses the simple structure of most New Economic Geography papers, with two identical...
Persistent link: https://www.econbiz.de/10010290690
This paper introduces aging of workers into the neoclassical theory of labor demand. Among other things, it is shown that under reasonable hypotheses employment, even of younger workers, increases in the span of working life. Using the standard model without aging, the analysis of such issues...
Persistent link: https://www.econbiz.de/10010322058
estimating total factor productivity at the establishment level, as well as of the existing techniques designed to overcome them … estimating productivity at the firm level, as well as to the endogeneity of product choice. Using data on single-product firms …
Persistent link: https://www.econbiz.de/10010313412
industries scale economies (and subsequently productivity) cannot be estimated independently of markups. We extend this basic …-Griliches estimation procedure will tend to overestimate exporting firm markups and underestimate their productivity. In addition, we … exporter productivity. …
Persistent link: https://www.econbiz.de/10010313441
This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model …
Persistent link: https://www.econbiz.de/10010268776