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Equilibrium price distribution with directed technical change

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  • Gil, Pedro Mazeda
  • Figueiredo, Fernanda
  • Afonso, Oscar

Abstract

This paper studies a non-degenerate price distribution for the homogeneous good within a model of endogenous directed technical change. A probability density function is analytically derived and shown to be related to the technology and innovation parameters of the model.

Suggested Citation

  • Gil, Pedro Mazeda & Figueiredo, Fernanda & Afonso, Oscar, 2010. "Equilibrium price distribution with directed technical change," Economics Letters, Elsevier, vol. 108(2), pages 130-133, August.
    • Handle: RePEc:eee:ecolet:v:108:y:2010:i:2:p:130-133
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    References listed on IDEAS

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    1. Kultti Klaus & Virrankoski Juha, 2003. "Price Distribution in a Symmetric Economy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 3(1), pages 1-21, April.
    2. Carlson, John A & McAfee, R Preston, 1983. "Discrete Equilibrium Price Dispersion," Journal of Political Economy, University of Chicago Press, vol. 91(3), pages 480-493, June.
    3. Charles I. Jones, 1995. "Time Series Tests of Endogenous Growth Models," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(2), pages 495-525.
    4. Kultti, Klaus & Virrankoski, Juha, 2004. "Price distribution in a random matching model," Economics Letters, Elsevier, vol. 83(3), pages 405-409, June.
    5. Daron Acemoglu & Fabrizio Zilibotti, 2001. "Productivity Differences," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(2), pages 563-606.
    6. Elias Dinopoulos & Peter Thompson, 1999. "Scale effects in Schumpeterian models of economic growth," Journal of Evolutionary Economics, Springer, vol. 9(2), pages 157-185.
    7. McAfee R. Preston, 1995. "Multiproduct Equilibrium Price Dispersion," Journal of Economic Theory, Elsevier, vol. 67(1), pages 83-105, October.
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    More about this item

    Keywords

    Price distribution Directed technical change Scale effects Labour endowment;

    JEL classification:

    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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