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Market Power in Macroeconomic Models: New Developments

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  • Joaquim SILVESTRE

Abstract

Earlier work on the market-power foundations of macroeconomics (see Silvestre, Journal of Economic Literature, 1993) adopted static or temporary equilibrium models. This paper surveys the more recent litterature, which is explicitly dynamic (models of overlapping generations, equilibrium fluctuations or neoclassical growth). The issues discussed include: (a) unemployment at low wages; (b) redistributive policies: (c) public expenditures (d) partial wage indexation, and (e) the equilibrium analysis of economic fluctuations.

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File URL: http://www.jstor.org/stable/20075991
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Bibliographic Info

Article provided by ENSAE in its journal Annals of Economics and Statistics.

Volume (Year): (1995)
Issue (Month): 37-38 ()
Pages: 319-359

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Handle: RePEc:adr:anecst:y:1995:i:37-38:p:15

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Cited by:
  1. Coto-Martinez, Javier, 2006. "Public capital and imperfect competition," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 349-378, January.
  2. Thomas Seegmuller, 2005. "On the Stabilizing Virtues of Imperfect Competition," Post-Print halshs-00194173, HAL.

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