We develop an extension to the Obstfeld and Rogoff (1995, 1996) two-sector model with imperfect competition and nominal …

Key Features:Develops the Marshallian economic ideaProvides a balance between theory and historyComprises all the … Continuum of Traders -- 1.5. Increasing Returns and Monopolistic Competition -- 1.6. Markets with Infinitely Many Commodities ….2. The Preference of a Consumer -- 2.3. The Demand of a Consumer -- 2.4. The Demand Theory -- 2.5. Competitive Equilibria of …

central bank. We also evaluate the effects of centralization of wage bargaining and product market competition on unemployment …

We analyze a class of 'large group' Chamberlinian monopolistic competition models using multiplicatively quasi …

perfect competition on product markets and that inflation is chosen directly by the monetary authority. Although these …

. On the other hand, the modern GE theory has not completed the study of increasing returns and monopolistic competition …The scope of the general equilibrium (GE) theory has so far been limited to the Walrasian tradition. Indeed, the … a large set-up cost. Also intended as a basic graduate textbook on GE theory, it contains all the basic results and …

forces of industry structure. This paper examines a general equilibrium monopolistic competition model with heterogeneous … competition is not only preserved but amplified. The additional difference between the tools arises because unit taxes distort …

The effects of competition on growth are analyzed in the recent literature by comparing economies with the same market … competition a la Dixit-Stiglitz the effect of substitutability on the allocation of resources is independent of the associated … change in competition. Higher substitutability increases welfare, output and productivity because resources shift towards the …