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Endogenous Market Structures and Macroeconomic Theory

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  • F. Etro

Abstract

This article applies the emerging theory of endogenous market structures to macroeconomic issues through a few simple models. First, we study a model of Schumpeterian growth where strategic interactions and endogenous entry determine the equilibrium behaviour of the firms investing in R&D. Second, we provide a new framework to study business cycles with imperfect competition in quantities à la Cournot and endogenous entry, and we show how a temporary shock promotes entry, reduces the mark ups and magnifies the impact on consumption. Third, we revisit the new trade theory adopting both strategic interactions and endogenous entry and revisiting some traditional results on the impact of opening to trade, the optimal tariff and the optimal export subsidy.

Suggested Citation

  • F. Etro, 2007. "Endogenous Market Structures and Macroeconomic Theory," Review of Business and Economic Literature, KU Leuven, Faculty of Economics and Business, Review of Business and Economic Literature, vol. 0(4), pages 517-540.
  • Handle: RePEc:ete:revbec:20070401
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    File URL: http://feb.kuleuven.be/rebel/jaargangen/2001-2010/2007/TEM%202007-4/TEM-2007-4_01_Etro.pdf
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    Cited by:

    1. Jérôme Creel & Maurizio Iacopetta, 2015. "Macroeconomic Policy and potential growth," Documents de Travail de l'OFCE 2015-15, Observatoire Francais des Conjonctures Economiques (OFCE).
    2. Federico Etro & Andrea Colciago, 2010. "Endogenous Market Structures and the Business Cycle," Economic Journal, Royal Economic Society, vol. 120(549), pages 1201-1233, December.
    3. Maurizio Iacopetta & Raoul Minetti & Pietro F. Peretto, 2014. "Financial markets industry dynamics and growth," Sciences Po publications info:hdl:2441/1ani1qs24g9, Sciences Po.
    4. Maria José Gil-Moltó & Dimitrios Varvarigos, 2012. "Industry Dynamics and Indeterminacy in an OLG Economy with Endogenous Occupational Choice," Discussion Papers in Economics 12/09, Department of Economics, University of Leicester, revised Sep 2012.
    5. Federico Etro, 2010. "Endogenous market structures and antitrust policy," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 57(1), pages 9-45, March.
    6. Federico Etro, 2010. "Endogenous Market Structures and Contract Theory," Working Papers 181, University of Milano-Bicocca, Department of Economics, revised Mar 2010.
    7. Colin Davis & Ken-ichi Hashimoto, 2016. "Innovation and Manufacturing Offshoring with Fully Endogenous Productivity Growth," Discussion Papers 1636, Graduate School of Economics, Kobe University.

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