Monopolistic competition and macroeconomic theory
Опубликовано на портале: 24-10-2003
Cambridge: Cambridge University Press, 1998, cерия "Federico Caffe lectures", 78 с.
Robert Solow is widely regarded as one of the greatest living economists. He has conducted path-breaking work in both microeconomics and macroeconomics, is the best-selling author of numerous publications, and was awarded the Nobel Prize for Economic Science in 1987. In Monopolistic Competition and Macroeconomic Theory, Professor Solow gives a nontechnical account of the implications of monopolistic competition on macroeconomic theory and shows that simple and tractable micro-based models can offer the possibility of a richer and more intuitive macroeconomics.
Much of today’s conventional macroeconomic theory presumes that markets for goods approach the state of perfect competition. Monopolistic Competition and Macroeconomic Theory assumes that markets are imperfect, so that sellers have some power over price, and must therefore form quantity expectations about the location of the firm’s demand curve. The question is then about the macroeconomic implications of imperfect competition in goods markets.
The first chapter is a brief survey of ideas recently proposed in economics including multiple equilibria.
The second chapter describes a particular micro-based macro model that allows several families of equilibria.
The third chapter shows how a standard locational model can be used to describe a sample macroeconomy when firms have close rivals. In this volume derived from his Federico Caffe Lecture, Nobel Laureate Robert Solow shows that there are simple and tractable micro-based models that offer the possibility of a richer and more intuitive macroeconomics.
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Part I. Some Macroeconomic Implications of Monopolistic Competition;
Part II. A Macroeconomic Model with Imperfect Competition: Biographical Note for Chapter II;
Part III. Monopolistic Competition and the Multiplier;
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