Market Power in Macroeconomic Models: New Developments

Joaquim Silvestre

Annals of Economics and Statistics, 1995, issue 37-38, 319-356

Abstract: Earlier work on the market-power foundations of macroeconomics (see Silvestre, Journal of Economic Literature, 1993) adopted static or temporary equilibrium models. This paper surveys the more recent litterature, which is explicitly dynamic (models of overlapping generations, equilibrium fluctuations or neoclassical growth). The issues discussed include: (a) unemployment at low wages; (b) redistributive policies: (c) public expenditures (d) partial wage indexation, and (e) the equilibrium analysis of economic fluctuations.

Date: 1995
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Citations: View citations in EconPapers (9)

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Working Paper: Market Power in Macroeconomic Models: New Developments (1994)
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:1995:i:37-38:p:319-356

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