 The EMSs Approach to MacroeconomicsChapter 2 in Endogenous Market Structures and the Macroeconomy, 2009, pp 51-94 from Springer Abstract: Abstract In this chapter we start our review of an approach to macroeconomics that is in part alternative and in part complementary to the neoclassical one. We depart from the perfectly competitive environment, in the sense that firms do not take prices as given, but they do choose their strategies and they interact strategically. We focus not only on the choice of prices as the strategic variables, but also on the choice of output levels, and on the choice of entry to produce new or better goods. In most of the analysis of this book we adopt either symmetric Cournot competition or symmetric Bertrand competition as the main models of static strategic interactions, but we will occasionally introduce other forms of competition, as Stackelberg competition or models of imperfect collusion, and we propose a general approach that can be employed with more sophisticated competitive structures borrowed from research in the field of industrial organization. As a matter of fact, one of the main aims of this book is exactly to build a solid bridge between macroeconomics and industrial organization. Keywords: Marginal Cost; Total Factor Productivity; General Equilibrium; Real Wage; Labor Income (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-87427-0_2 Ordering information: This item can be ordered from DOI: 10.1007/978-3-540-87427-0_2 Access Statistics for this chapter More chapters in Springer Books from Springer |
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