level in an oligopoly supergame where a positive shock may hit demand and disrupt collusion. The novel feature of our model …We revisit the discussion about the relationship between price's cyclical features, implicit collusion and the demand … consists in characterising the post-shock noncooperative price and comparing it against the cartel price played in the last …

Rotemberg and Saloner (1986) contribution, we build a theoretical framework based on Bertrand duopoly, stochastic demand and …

analysis of models that employ only an idiosyncratic productivity shock and calibrate solely using data from the price … productivity and demand shocks that are disciplined by the data. This approach allows us to overcome previous criticism from …

effective demand. The first part of the article deals with his theory of prices and distribution, and shows that, although his … effective demand and his theory of prices. According to Malthus, natural prices are the condition of reproduction of the economy … income determination presented here illustrates the links between effective demand, the price level and income distribution …