Monopolistic competition, transaction costs and multiple equilibria
This paper analyzes the role of transactions costs in a macroeconomic model of monopolistic competition. If there is sufficient increasing returns to scale in transaction technology, the economy exhibits multiple equilibria even if the production technology is constant or decreasing returns to scale...
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| Veröffentlicht in: | Economics letters 2005-04, Vol.87 (1), p.21-26 |
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| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
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| container_end_page | 26 |
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| container_issue | 1 |
| container_start_page | 21 |
| container_title | Economics letters |
| container_volume | 87 |
| creator | Julien, Ludovic A. Sanz, Nicolas |
| description | This paper analyzes the role of transactions costs in a macroeconomic model of monopolistic competition. If there is sufficient increasing returns to scale in transaction technology, the economy exhibits multiple equilibria even if the production technology is constant or decreasing returns to scale. |
| doi_str_mv | 10.1016/j.econlet.2004.08.010 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0165-1765 |
| ispartof | Economics letters, 2005-04, Vol.87 (1), p.21-26 |
| issn | 0165-1765 1873-7374 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_38059158 |
| source | RePEc; Elsevier ScienceDirect Journals Complete |
| subjects | Economic equilibrium Economic theory Imperfect competition Increasing returns Market theory Mathematical methods Monopolies Monopolistic competition Multiple equilibria Trading costs Transaction costs Unemployment |
| title | Monopolistic competition, transaction costs and multiple equilibria |
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