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Un análisis del ciclo económico en competencia imperfecta

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Author Info
Julián Arévalo () (Universidad Externado de Colombia)
Angélica Castro () (Universidad Externado de Colombia, Universidad Nacional de Colombia)
Édgar Villa () (Universidad Externado de Colombia)

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Abstract

The aim of this paper, which is part of a broader research project, is to analyse the fluctuations of output in a framework of imperfect competition based on the stylised facts. We conclude that these movements can be originated by supply or demand shocks, or simply by the adjustment of the economy when goods or labor markets are not balanced because of price and wages rigidities. On the other hand, it justifies the Keynesian argument related to government interference in cases where the economy cannot overcome a recessive stage on its own.

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File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/evilla7.pdf
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Publisher Info
Article provided by Universidad Externado de Colombia - Facultad de Economía in its journal Revista de Economía Institucional.

Volume (Year): 4 (2002)
Issue (Month): 7 (July-December)
Pages: 11-39
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Handle: RePEc:rei:ecoins:v:4:y:2002:i:7:p:11-39

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Related research
Keywords: economic cycle imperfect competition stylised facts economic growth

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Find related papers by JEL classification:
E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
O49 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other

References listed on IDEAS
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  1. McCallum, Bennett T., 1990. "Inflation: Theory and evidence," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 2, chapter 18, pages 963-1012 Elsevier. [Downloadable!] (restricted)
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  2. Benassy, Jean-Pascal, 1976. "The Disequilibrium Approach to Monopolistic Price Setting and General Monopolistic Equilibrium," Review of Economic Studies, Blackwell Publishing, vol. 43(1), pages 69-81, February. [Downloadable!] (restricted)
  3. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November. [Downloadable!] (restricted)
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  4. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1, pages 19-46. [Downloadable!] (restricted)
  5. Benassy, Jean-Pascal, 1993. "Nonclearing Markets: Microeconomic Concepts and Macroeconomic Applications," Journal of Economic Literature, American Economic Association, vol. 31(2), pages 732-61, June. [Downloadable!] (restricted)
  6. N. Gregory Mankiw, 1989. "Real Business Cycles: A New Keynesian Perspective," NBER Working Papers 2882, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  7. King, Robert G & Plosser, Charles I, 1984. "Money, Credit, and Prices in a Real Business Cycle," American Economic Review, American Economic Association, vol. 74(3), pages 363-80, June. [Downloadable!] (restricted)
  8. Tjalling C. Koopmans, 1963. "On the Concept of Optimal Economic Growth," Cowles Foundation Discussion Papers 163, Cowles Foundation, Yale University. [Downloadable!]
  9. Lucas, Robert E., 1977. "Understanding business cycles," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 5, pages 7-29. [Downloadable!] (restricted)
  10. Olivier J. Blanchard, 1987. "Why Does Money Affect Output? A Survey," Working papers 453, Massachusetts Institute of Technology (MIT), Department of Economics.
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