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Product Differentiation and Oligopoly : A Network Approach

Pellegrino, Bruno - 2023

This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product market rivalries that emerges endogenously out of the characteristics of the products and services they supply. My model embeds a novel, highly tractable and scalable demand system...

Persistent link: https://www.econbiz.de/10014262031

Product differentiation and oligopoly : a network approach

Pellegrino, Bruno - 2023

Persistent link: https://www.econbiz.de/10013503368

How Foreign Exchange Rates Underpin the Dynamics of the Global Economy

Dodwell, William J. - 2015

The currencies of nations, in their utility as a medium of exchange and store of value, behave variously according to the integrated dynamics of free enterprise, the central bank and government policy. As such, foreign exchange rates fluctuate constantly with consequences for the growth of...

Persistent link: https://www.econbiz.de/10013028341

The Relationship between High Debt Levels and Economic Stagnation, Explained by a Simple Cash Flow Model of the Economy

Andricopoulos, Ari - 2016

Empirical data is presented suggesting that high private and, to a lesser extent, public debt levels place a strong drag upon economic growth. A simple, demand-based, cash flow (DBCF) model of the economy is developed, separating out flows by marginal propensity to spend. This approach is both...

Persistent link: https://www.econbiz.de/10012980568

R&D Shocks and News Shocks

Jinnai, Ryo - 2014

Most of the theoretical work in the news shock literature abstracts away from structural explanations, assuming instead that news is a pure signal giving agents advance notice that aggregate technology will undergo exogenous change at some future point. This paper proposes that a surprise...

Persistent link: https://www.econbiz.de/10013055345

Gain-Loss Utility, Equilibrium and Interest Rates

Popov, Valeri - 2019

The author assesses the factors that determine market interest rates and the equilibrium conditions with respect to aggregate desired borrowings and savings. According to gain-loss utility, aggregate desired borrowings and savings are in equilibrium when market interest rates equal the...

Persistent link: https://www.econbiz.de/10012898546

Economic Growth and Business Cycles : The Labor Supply Decision with Two Types of Technological Progress

Graves, Philip E. - 2011

An informal model is described that leads to multiple macroeconomic equilibria as a consequence of random variation in the relative amounts of technological change for new and existing goods. The novel observation is that the rate of introduction and market penetration of new goods vis-a-vis...

Persistent link: https://www.econbiz.de/10012756204

Economy works differently Episode 3 : The end of the two Cambridge controversy, Economic Capital is the micro-foundation of economics , Aggregation of Economic Capital

Vanoverberghe, Didier - 2022

The two Cambridge controversy have marked a milestone in economic thinking. By their demonstration neo-Ricardian and post-Keynesian seemed to have proven the impossibility of defining the notion of Capital and, moreover, of being able to aggregate heterogeneous Capital. It is not so.By reasoning...

Persistent link: https://www.econbiz.de/10013295977

Houses Divided : Intergenerational Transfers, Differential Fertility and Wealth Inequality

Cooke, Aaron; Ghimire, Umesh; Lee, Hyun; Zhao, Kai - 2022

Rising income and wealth inequality across the developed world has prompted a renewed focus on the mechanisms driving inequality. This paper contributes to the existing literature by studying the impact from life-cycle savings, intergenerational transfers, and fertility differences between the...

Persistent link: https://www.econbiz.de/10013308755

Forecasting Tourism Expenditure and Growth : A VAR/VECM Analysis for Greece at Both Aggregated and Disaggregated Levels

Georgantopoulos, Andreas G. - 2020

Tourism is one of the most important factors in the productivity of the Greek economy with significant multiplier … growth and tourism expenditure using a trivariate model with real effective exchange rate, analysed as a whole and in sub …-run equilibrium relationships and unidirectional causal relationship is reported from tourism expenditure to real output in the short …

Persistent link: https://www.econbiz.de/10012857122