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Un análisis del ciclo económico en competencia imperfecta

Author Info

Listed author(s):
  • Julián Arévalo

    ()

    (Universidad Externado de Colombia)

  • Angélica Castro

    ()

    (Universidad Externado de Colombia, Universidad Nacional de Colombia)

  • Édgar Villa

    ()

    (Universidad Externado de Colombia)

Abstract

The aim of this paper, which is part of a broader research project, is to analyse the fluctuations of output in a framework of imperfect competition based on the stylised facts. We conclude that these movements can be originated by supply or demand shocks, or simply by the adjustment of the economy when goods or labor markets are not balanced because of price and wages rigidities. On the other hand, it justifies the Keynesian argument related to government interference in cases where the economy cannot overcome a recessive stage on its own.

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File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/evilla7.pdf
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Article provided by Universidad Externado de Colombia - Facultad de Economía in its journal Revista de Economía Institucional.

Volume (Year): 4 (2002)
Issue (Month): 7 (July-December)
Pages: 11-39

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Handle: RePEc:rei:ecoins:v:4:y:2002:i:7:p:11-39
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Keywords: economic cycle; imperfect competition; stylised facts; economic growth;

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Find related papers by JEL classification:
  • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
  • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
  • O49 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other

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  1. Edgar Villa & Julián Arévalo & Angélica Castro, 2001. "Equilibrio general no competitivo con formación endógena de precios," REVISTA CUADERNOS DE ECONOMÍA, UN - RCE - CID, December.
  2. Tjalling C. Koopmans, 1963. "On the Concept of Optimal Economic Growth," Cowles Foundation Discussion Papers 163, Cowles Foundation for Research in Economics, Yale University.
  3. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
  4. Jean-Pascal Benassy, 1976. "The Disequilibrium Approach to Monopolistic Price Setting and General Monopolistic Equilibrium," Review of Economic Studies, Oxford University Press, vol. 43(1), pages 69-81.
  5. Blanchard, Olivier Jean, 1990. "Why does money affect output? A survey," Handbook of Monetary Economics,in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 2, chapter 15, pages 779-835 Elsevier.
  6. Pencavel, John, 1987. "Labor supply of men: A survey," Handbook of Labor Economics,in: O. Ashenfelter & R. Layard (ed.), Handbook of Labor Economics, edition 1, volume 1, chapter 1, pages 3-102 Elsevier.
  7. Mankiw, N Gregory, 1989. "Real Business Cycles: A New Keynesian Perspective," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 79-90, Summer.
  8. Francisco Lozano & Edgar Villar & Sergio Monsalve, 1997. "El modelo de generaciones traslapadas como modelo monetario," REVISTA CUADERNOS DE ECONOMÍA, UN - RCE - CID, December.
  9. Benassy, Jean-Pascal, 1993. "Nonclearing Markets: Microeconomic Concepts and Macroeconomic Applications," Journal of Economic Literature, American Economic Association, vol. 31(2), pages 732-761, June.
  10. Lucas, Robert E., 1977. "Understanding business cycles," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 5(1), pages 7-29, January.
  11. McCallum, Bennett T., 1990. "Inflation: Theory and evidence," Handbook of Monetary Economics,in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 2, chapter 18, pages 963-1012 Elsevier.
  12. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
  13. Dixon,Huw David & Rankin,Neil, 1995. "The New Macroeconomics," Cambridge Books, Cambridge University Press, number 9780521479479, Diciembre.
  14. King, Robert G & Plosser, Charles I, 1984. "Money, Credit, and Prices in a Real Business Cycle," American Economic Review, American Economic Association, vol. 74(3), pages 363-380, June.
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