Endogenous Markups and Fiscal Policy
This paper analyses a simple imperfectly competitive general equilibrium model where the entry mechanism generates an endogenous markup. In this second-best world fiscal policy is more effective than in Walrasian or in fixed-markup monopolistic competition models, as it produces efficiency gains through entry. Copyright Blackwell Publishing Ltd and The Victoria University of Manchester, 2004.
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Volume (Year): 72 (2004)
Issue (Month): s1 (September)
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