Monopolistic competition, endogenous markups, and growth Export

@article{citeulike:949842, abstract = {Markup variations brought about by changing demand conditions can have a significant impact on the growth dynamics of imperfectly competitive economies: they can generate multiple steady states, as well as multiple equilibrium paths for given initial conditions. We illustrate that result in the context of two alternative models. In the first model equilibrium markups depend on the aggregate savings rate. In the second model the markup level varies with the range of intermediate goods available. We discuss some of the empirical implications of the class of models introduced in the paper.}, author = {Gali, Jordi}, citeulike-article-id = {949842}, citeulike-linkout-0 = {http://dx.doi.org/10.1016/0014-2921(94)90110-4}, citeulike-linkout-1 = {http://www.sciencedirect.com/science/article/B6V64-45R2GBB-11/2/5a9c62dc59a6d63be55a3be4c52175d0}, doi = {10.1016/0014-2921(94)90110-4}, journal = {European Economic Review}, keywords = {411-1}, month = {April}, number = {3-4}, pages = {748--756}, posted-at = {2006-11-17 06:50:40}, priority = {2}, title = {Monopolistic competition, endogenous markups, and growth}, url = {http://dx.doi.org/10.1016/0014-2921(94)90110-4}, volume = {38}, year = {1994} }

TY - JOUR ID - citeulike:949842 L3 - citeulike-article-id:949842 N2 - Markup variations brought about by changing demand conditions can have a significant impact on the growth dynamics of imperfectly competitive economies: they can generate multiple steady states, as well as multiple equilibrium paths for given initial conditions. We illustrate that result in the context of two alternative models. In the first model equilibrium markups depend on the aggregate savings rate. In the second model the markup level varies with the range of intermediate goods available. We discuss some of the empirical implications of the class of models introduced in the paper. IS - 3-4 JF - European Economic Review EP - 756 TI - Monopolistic competition, endogenous markups, and growth VL - 38 SP - 748 KW - 411-1 AU - Gali, Jordi PY - 1994/04// UR - http://dx.doi.org/10.1016/0014-2921(94)90110-4 ER -