Title of article
Multipliers: imperfect competition or increasing returns to scale?
Author/Authors
Antonio Fat?s، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 1997
Pages
5
From page
197
To page
201
Abstract
In a recent paper, Rotemberg and Woodford (1995) study the behavior of imperfectly competitive economies to conclude that imperfect competition magnifies the response of output to certain exogenous shocks. We show that their results are entirely driven by the presence of increasing returns to scale and not by imperfect competition.
Keywords
Business cycles , Increasing returns to scale , Imperfect competition , multipliers
Journal title
Economics Letters
Serial Year
1997
Journal title
Economics Letters
Record number
434443
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