Can market power sustain endogenous growth in overlapping-generations economies?
AbstractSustained endogenous growth is known to be impossible in OLG one-sector models without non-convexities and externalities, unless income is redistributed to the young generation. No redistribution proper is however necessary, as shown in two simple examples, if positive profits accruing to young monopolistic entrepreneurs can be sustained in equilibrium, and/or if young unionised workers can guarantee a non-vanishing share of aggregate income. In this context, market power appears, in two different forms, as a significant source of sustained endogenous growth.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 20 (2002)
Issue (Month): 1 ()
Note: Received: October 3, 2000; revised version: March 9, 2001
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- E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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"Taste For Variety And Endogenous Fluctuations In A Monopolistic Competition Model,"
Cambridge University Press, vol. 12(04), pages 561-577, September.
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- Koskela, Erkki & Puhakka, Mikko, 2007. "Stability and Dynamics in an Overlapping Generations Economy with Flexible Wage Negotiations," IZA Discussion Papers 3246, Institute for the Study of Labor (IZA).
- Erkki Koskela & Mikko Puhakka, 2006. "Stability and Dynamics in an Overlapping Generations Economy under Flexible Wage Negotiation and Capital Accumulation," CESifo Working Paper Series 1840, CESifo Group Munich.
- repec:hal:journl:halshs-00194173 is not listed on IDEAS
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