Total de visitas: 22121

Dynamic Macroeconomics with Imperfect Competition download book

Dynamic Macroeconomics with Imperfect Competition download book

Dynamic Macroeconomics with Imperfect Competition by Leo Kaas
Dynamic Macroeconomics with Imperfect Competition
---------------------------------------------------------------
Author: Leo Kaas
Page Count: 166 pages
Published Date: 01 Sep 1999
Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Publication Country: Berlin, Germany
Language: English
ISBN: 9783540660293
File size: 34 Mb
File Name: dynamic.macroeconomics.with.imperfect.competition.pdf
Download Link: dynamic macroeconomics with imperfect competition
---------------------------------------------------------------


This thesis was stimulated throughout the time of my participation in a research project on Dynamic Macroeconomics, supported by the German Research Foundation (DFG). The starting point was the central question of how to integrate price setting firms in a dynamic disequilibrium model. Almost all recent literature on imperfect competition in macroeconomics applies the objective demand approach by assuming that firms know the true demand curve they are faced with. While this approach can be ap- plied in temporary monetary equilibrium models, it proves inadequate for formulating price adjustment in a dynamic disequilibrium model, where it has to be replaced by the concept of subjective demand. Based on this distinction, the thesis starts out with a comparison of the concepts of subjective and objective demand in an abstract framework and surveys the literature on general equilibrium theory with imperfect competition. The objective demand approach is criticized not only on the grounds of its strong rationality requirements and existence problems, but also by the observation that it cannot be applied successfully to characterize determinate rational expectations equilibria in intertemporal macroeco- nomics. Finally, price setting firms using subjective demand functions are integrated in a dynamic disequilibrium model in order to study mo- nopolistic and oligopolistic price adjustment.

Read online Dynamic Macroeconomics with Imperfect Competition Buy Dynamic Macroeconomics with Imperfect Competition Download and read Dynamic Macroeconomics with Imperfect Competition ebook, pdf, djvu, epub, mobi, fb2, zip, rar, torrent Download to iPad/iPhone/iOS, B&N nook Dynamic Macroeconomics with Imperfect Competition