Toward a Theory of Monopolistic Competition
نویسندگان
چکیده
منابع مشابه
Toward a theory of monopolistic competition
We propose a general model of monopolistic competition, which encompasses existing models while being flexible enough to take into account new demand and competition features. The basic tool we use to study the market outcome is the elasticity of substitution at a symmetric consumption pattern, which depends on both the per capita consumption and the total mass of varieties. We impose intuitive...
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Under what circumstances will a monopolistic competitive market be characterized by too little or too much quality variation? How do excise taxes affect the monopolistic competitive equilibrium? Can an increase in the minimum wage lead firms to employ more workers but cause a reduction in industry wide employment? What will be the multiplier effect of a balancedbudget increase in government tax...
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We study monopolistic competition under indirect additivity of preferences. This is dual to the Dixit-Stiglitz model, where direct additivity is assumed, with the CES case as the only common ground. Other examples include (perceived) demand functions that are exponential or linear. Our equilibrium results are generally in contrast with those received by the literature. An increase of the number...
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This paper studies optimal taxation in a DixitStiglitz model of monopolistic competition. In this setting, taxes may be used as an instrument to o¤set distortions caused by producer markups. Since markups tend to be higher in industries where rms face less elastic demand, tax rates will be pushed lower in these industries. This tends to work against the familiar inverse elasticities intuition...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2719560