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A Closer Look at the Comparative Statics in Competitive Markets

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  • José Ramón Ruiz-Tamarit
  • Manuel Sánchez-Moreno

Abstract

In this paper we revisit the dual approach to comparative statics in competitive markets, allowing for the essential results to arise from a comprehensive and unified framework. We study, for both the long-run and the short-run, the response of all the endogenous variables to price factor changes in a way that captures the outputprice effects arising from market-firm interactions. We show that it is necessary a richer characterization of the nature of factors with respect to output, connected with marginal cost and output demand elasticities, for completely determining such responses.

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Paper provided by FEDEA in its series Working Papers with number 2005-13.

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Handle: RePEc:fda:fdaddt:2005-13

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  1. Ferguson, C E & Saving, Thomas R, 1969. "Long-Run Scale Adjustments of a Perfectly Competitive Firm and Industry," American Economic Review, American Economic Association, American Economic Association, vol. 59(5), pages 774-83, December.
  2. Braulke, Michael, 1984. "The Firm in Short-run Industry Equilibrium: Comment," American Economic Review, American Economic Association, American Economic Association, vol. 74(4), pages 750-53, September.
  3. D. V. T. Bear, 1965. "Inferior Inputs and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 73, pages 287.
  4. Braulke, Michael, 1987. "On the Comparative Statics of a Competitive Industry," American Economic Review, American Economic Association, American Economic Association, vol. 77(3), pages 479-85, June.
  5. Lowell R. Bassett & Thomas E. Borcherding, 1970. "The Firm, the Industry, and the Long-Run Demand for Factors of Production," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 3(1), pages 140-44, February.
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Cited by:
  1. Andrés J. Marchante Mera & Bienvenido Ortega Aguaza & José Sánchez Maldonado, 2006. "Las dimensiones del bienestar en las Comunidades Autónomas Españolas. Un análisis de Sigma y Gamma-Convergencia," Working Papers, FEDEA 2006-05, FEDEA.
  2. Namkee Ahn, . "Life Satisfaction among Spanish Workers: Importance of Intangible Job Characteristics," Working Papers, FEDEA 2005-17, FEDEA.
  3. Pedro N. Rodríguez, & Simón Sosvilla-Rivero, 2006. "Understanding and Forecasting Stock Price Changes," Working Papers, FEDEA 2006-03, FEDEA.

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