Perfect Competition and the Effects of Energy Price Increases on Economic Activity

Mary G Finn

Journal of Money, Credit and Banking, 2000, vol. 32, issue 3, 400-416

Abstract: Rotemberg and Woodford (1996) present new striking facts concerning the effects of energy price increases on economic activity. They advance a theory of imperfect competition to successfully address these facts--suggesting that imperfect competition is a necessary ingredient for success. The present study shows that a theory of perfect competition rises to the challenge of explaining the Rotemberg-Woodford evidence.

Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:mcb:jmoncb:v:32:y:2000:i:3:p:400-416

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