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Mixed Industrial Structure And Short-Run Fiscal Multiplier

Author

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  • ROBERTO CENSOLO
  • CATERINA COLOMBO

Abstract

Existing studies on the fiscal multiplier under imperfect competition assume a symmetric market structure with identical firms. This paper examines the fiscal policy implications of introducing a multisectoral economy, where a composite commodity is offered in many varieties within a market of monopolistic competition and a homogeneous good is produced in a perfectly competitive environment. Within the context of this mixed industrial structure we show that the size of the short-run multiplier crucially depends on the composition of public expenditure chosen by the government. Copyright 2008 The Authors. Journal compilation 2008 Blackwell Publishing Ltd/University of Adelaide and Flinders University.

Suggested Citation

  • Roberto Censolo & Caterina Colombo, 2008. "Mixed Industrial Structure And Short-Run Fiscal Multiplier," Australian Economic Papers, Wiley Blackwell, vol. 47(2), pages 156-165, June.
  • Handle: RePEc:bla:ausecp:v:47:y:2008:i:2:p:156-165
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    Citations

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    Cited by:

    1. Chi-Ting Chin & Ching-Chong Lai & Ming-Ruey Kao, 2010. "Welfare-Maximising Pricing In A Macroeconomic Model With Imperfect Competition And Consumption Externalities," Australian Economic Papers, Wiley Blackwell, vol. 49(3), pages 200-208, September.
    2. Hsieh Hui-ting & Lai Ching-chong & Chen Kuan-jen, 2015. "A Macroeconomic Model of Imperfect Competition with Patent Licensing," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 15(4), pages 1579-1618, October.
    3. Chiara Del Bo & Massimo Florio & Silvia Vignetti & Emanuela Sirtori, 2011. "Additionality and regional development: are EU Structural Funds complements or substitutes of national Public Finance?," Working Papers 201101, CSIL Centre for Industrial Studies.
    4. Luís F. Costa & Huw Dixon, 2009. "Fiscal Policy under Imperfect Competition: A Survey," Working Papers Department of Economics 2009/25, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    5. Georgios Christou & Panagiotis Chronis, 2017. "Markups and fiscal policy: analytical framework and an empirical investigation," Working Papers 221, Bank of Greece.

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