Market Structure in Multisector General Equilibrium Models of Open Economies

Joseph Francois, Miriam Manchin and Will Martin

Chapter Chapter 24 in Handbook of Computable General Equilibrium Modeling, 2013, vol. 1, pp 1571-1600 from Elsevier

Abstract: We provide an overview of several approaches to modeling market structure in multisector general equilibrium (MSGE) models, including both oligopoly and monopolistic competition. We emphasize open economy models and applications to international economic policy. We map out practical strategies for implementing variations on market structure, including functional forms and calibration strategies. We also identify areas that, in our view, are promising for further research. This includes both exploring the implications of moving away from average cost pricing models (including monopolistic competition) for labor market outcomes and inequality, and better methods for econometric estimation of parameters and confronting alternative forms of market structure against measures of model performance (specification testing).

Keywords: Market structure in MSGE models; oligopoly; monopolistic competition (search for similar items in EconPapers)
JEL-codes: D43 D58 F10 F17 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/B9780444595683000249
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:hacchp:v:1:y:2013:i:c:p:1571-1600

DOI: 10.1016/B978-0-444-59568-3.00024-9

Access Statistics for this chapter

More chapters in Handbook of Computable General Equilibrium Modeling from Elsevier
Bibliographic data for series maintained by Catherine Liu ().