TEN YEARS OF GENERAL OLIGOPOLISTIC EQUILIBRIUM: A SURVEY

Rudy Colacicco

Journal of Economic Surveys, 2015, vol. 29, issue 5, 965-992

Abstract: In this paper, I survey the recent and rapidly increasing theoretical literature using the brand-new approach in embedding oligopolistic competition in general equilibrium, as designed by J. Peter Neary. First, I introduce the reader to Neary's approach, by describing the main ingredients. Then, I present a comprehensive set of studies that, over the last decade, apply this approach in different contexts, most of which are in open economy, and I examine the relevant outcomes. Although the theoretical literature has generously advanced, there is a lack of research on the empirical side, which would be an important area for future research besides theoretical extensions, some of which I highlight in the conclusions.

Date: 2015
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