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Multisector monopolistic competition model

  • Igor Pospelov

    ()

    (Research University Higher School of Economics)

  • Stanislav Radionov

    ()

    (National Research University Higher School of Economics. Research group on macro-structural modeling of Russian economy)

We present a natural generalization of the Dixit-Stiglitz monopolistic competition model (DSM) | we assume that there is a continuum of industries, each of them described as in DSM, and each characterized with its own elasticity of substitution. Although rms in all industries share the same level of productivity and costs, exogenous technological progress leads to non-trivial reallocations of labor and production to industries with lower elasticities of substitution. Thus the model, despite is simplicity and absence of additional assumptions about industry structure, generates the structural changes described in the economic growth literature

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Paper provided by National Research University Higher School of Economics in its series HSE Working papers with number WP BRP 34/EC/2013.

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Length: 18 pages
Date of creation: 2013
Date of revision:
Publication status: Published in WP BRP Series: Economics / EC, September 2013, pages 1-18
Handle: RePEc:hig:wpaper:34/ec/2013
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  1. Aghion, P. & Howitt, P., 1990. "A Model Of Growth Through Creative Destruction," DELTA Working Papers 90-12, DELTA (Ecole normale supérieure).
  2. Evgeny Zhelobodko & Sergey Kokovin & Mathieu Parenti & Jacques‐François Thisse, 2012. "Monopolistic Competition: Beyond the Constant Elasticity of Substitution," Econometrica, Econometric Society, vol. 80(6), pages 2765-2784, November.
  3. Kongsamut, Piyabha & Rebelo, Sergio & Xie, Danyang, 2001. "Beyond Balanced Growth," Review of Economic Studies, Wiley Blackwell, vol. 68(4), pages 869-82, October.
  4. van de Klundert, T.C.M.J. & Smulders, J.A., 1992. "Strategies for growth in a macroeconomic setting," Discussion Paper 1992-4, Tilburg University, Center for Economic Research.
  5. Gary Hufbauer, 1970. "The Impact of National Characteristics & Technology on the Commodity Composition of Trade in Manufactured Goods," NBER Chapters, in: The Technology Factor in International Trade, pages 143-232 National Bureau of Economic Research, Inc.
  6. Kiminori Matsuyama, 1991. "Agricultural Productivity, Comparative Advantage and Economic Growth," NBER Working Papers 3606, National Bureau of Economic Research, Inc.
  7. Daron Acemoglu & Veronica Guerrieri, 2008. "Capital Deepening and Nonbalanced Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 116(3), pages 467-498, 06.
  8. Gene M. Grossman & Elhanan Helpman, 1993. "Innovation and Growth in the Global Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262570971, June.
  9. Marc J. Melitz, 2003. "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity," Econometrica, Econometric Society, vol. 71(6), pages 1695-1725, November.
  10. Philipp J.H. Schröder & Allan Sørensen, 2011. "Firm Exit, Technological Progress and Trade," Economics Working Papers 2011-17, School of Economics and Management, University of Aarhus.
  11. Dixit, Avinash K & Stiglitz, Joseph E, 1975. "Monopolistic Competition and Optimum Product Diversity," The Warwick Economics Research Paper Series (TWERPS) 64, University of Warwick, Department of Economics.
  12. Peretto, Pietro F, 1996. "Sunk Costs, Market Structure, and Growth," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(4), pages 895-923, November.
  13. repec:ner:tilbur:urn:nbn:nl:ui:12-153408 is not listed on IDEAS
  14. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  15. Smulders, J.A. & van de Klundert, T.C.M.J., 2004. "Monopolistic competition and economic growth," Other publications TiSEM a0d31c9b-9be8-4137-ad77-b, Tilburg University, School of Economics and Management.
  16. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  17. Daron Acemoglu, 2007. "Introduction to Modern Economic Growth," Levine's Bibliography 122247000000001721, UCLA Department of Economics.
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