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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. Schröder, Philipp J.H. & Sørensen, Allan, 2012. "Firm exit, technological progress and trade," European Economic Review, Elsevier, vol. 56(3), pages 579-591.
  2. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
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