Multiple Equilibria in a Growth Model with Monopolistic Competition
The standard neoclassical growth model is modified by introducing a market structure characterized by monopolistic competition and variable demand elasticities. In equilibrium, the price elasticity of the demand schedule facing a typical firm is a function of the aggregate savings rate. The latter feature results from an assumed wedge between the elasticity of substitution across goods in productive activities and that in consumption. In contrast with most examples in the literature our model does not require increasing returns (internal or external) in order to generate multiple equilibria.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 8 (1996)
Issue (Month): 2 (August)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/economic+theory/journal/199/PS2|
This item is featured on the following reading lists or Wikipedia pages:
When requesting a correction, please mention this item's handle: RePEc:spr:joecth:v:8:y:1996:i:2:p:251-66. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.