Globalisation and market structure

J. Peter Neary

No 200220, Working Papers from School of Economics, University College Dublin

Abstract: This paper reviews some puzzling economic aspects of globalisation and argues that they cannot be satisfactorily addressed in perfectly or monopolistically competitive models. Drawing on recent work, a model of oligopoly in general equilibrium is sketched. The model ensures theoretical consistency by assuming that firms are large in their own markets but small in the economy as a whole, and ensures tractability by assuming quadratic preferences defined over a continuum of goods. Applications considered include the effects of trade liberalisation on industrial structure, on cross-border merger waves, and on the distribution of income between skilled and unskilled workers.

Keywords: Cross-border mergers; GOLE (General Oligopolistic Equilibrium); Market integration; Trade and wages; Trade liberalisation; Globalization; Equilibrium (Economics); Oligopolies; Competition, Imperfect (search for similar items in EconPapers)
JEL-codes: D50 F12 L13 (search for similar items in EconPapers)
Date: 2002-08
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:ucn:wpaper:200220

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