Endogenous markups and fiscal policy
This paper analyses a simple imperfectly competitive general equilibrium model where the entry mechanism generates an endogenous markup. In this second-best world fiscal policy is more effective than in Walrasian or in fixed-markup monopolistic competition models, as it produces efficiency gains through entry. Copyright Blackwell Publishing Ltd and The Victoria University of Manchester, 2004.
(This abstract was borrowed from another version of this item.)
|Date of creation:||27 Sep 2004|
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