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Modeling Complementarity in Monopolistic Competition

  • Kiminori Matsuyama

In recent years, monopolistic competition models have frequently been applied in macroeconomics, international and interregional economics, and economic growth and development. In this paper, I presenta highly selective review in this area, with special emphasis on the complementarity and its role of generating multiplier processes, agglomeration, underdevelopment traps, regional disparities, and sustainable growth, or more generally, what Myrdal (1957) called the "principle of circular and cumulative causation."

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Paper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number 1028.

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Date of creation: Feb 1993
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Handle: RePEc:nwu:cmsems:1028
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