GDP steady-state multipliers under monopolistic competition revisited

Detalhes bibliográficos
Autor(a) principal: Costa, Luís F.
Data de Publicação: 2007
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/15549
Resumo: New Keynesian general-equilibrium static models showed the fiscal multiplier is an increasing function of the degree of monopoly. Here, I develop a simple intertemporal model allowing us to study the steady-state role of optimal capital stock (and depreciation) in the fiscal policy transmission mechanism. The GDP multiplier may be locally decreasing in the degree of monopoly when the number of firms is fixed, but results depend strongly on the set of parameter values chosen. Using a net-output definition or allowing for free entry leads to unambiguous dominance of the long-run monopolistic multiplier over the Walrasian one.
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spelling GDP steady-state multipliers under monopolistic competition revisitedMultiplierFiscal policyMonopolistic competitionNew Keynesian general-equilibrium static models showed the fiscal multiplier is an increasing function of the degree of monopoly. Here, I develop a simple intertemporal model allowing us to study the steady-state role of optimal capital stock (and depreciation) in the fiscal policy transmission mechanism. The GDP multiplier may be locally decreasing in the degree of monopoly when the number of firms is fixed, but results depend strongly on the set of parameter values chosen. Using a net-output definition or allowing for free entry leads to unambiguous dominance of the long-run monopolistic multiplier over the Walrasian one.Springer VerlagRepositório da Universidade de LisboaCosta, Luís F.2018-06-01T14:42:54Z2007-122007-12-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/15549engCosta, Luís F. (2006). "GDP steady-state multipliers under monopolistic competition revisited". Portuguese Economic Journal, 6(3):181-2041617-982X (print)10.1007/s10258-007-0027-8metadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:45:29Zoai:www.repository.utl.pt:10400.5/15549Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:01:10.020334Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv GDP steady-state multipliers under monopolistic competition revisited
title GDP steady-state multipliers under monopolistic competition revisited
spellingShingle GDP steady-state multipliers under monopolistic competition revisited
Costa, Luís F.
Multiplier
Fiscal policy
Monopolistic competition
title_short GDP steady-state multipliers under monopolistic competition revisited
title_full GDP steady-state multipliers under monopolistic competition revisited
title_fullStr GDP steady-state multipliers under monopolistic competition revisited
title_full_unstemmed GDP steady-state multipliers under monopolistic competition revisited
title_sort GDP steady-state multipliers under monopolistic competition revisited
author Costa, Luís F.
author_facet Costa, Luís F.
author_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Costa, Luís F.
dc.subject.por.fl_str_mv Multiplier
Fiscal policy
Monopolistic competition
topic Multiplier
Fiscal policy
Monopolistic competition
description New Keynesian general-equilibrium static models showed the fiscal multiplier is an increasing function of the degree of monopoly. Here, I develop a simple intertemporal model allowing us to study the steady-state role of optimal capital stock (and depreciation) in the fiscal policy transmission mechanism. The GDP multiplier may be locally decreasing in the degree of monopoly when the number of firms is fixed, but results depend strongly on the set of parameter values chosen. Using a net-output definition or allowing for free entry leads to unambiguous dominance of the long-run monopolistic multiplier over the Walrasian one.
publishDate 2007
dc.date.none.fl_str_mv 2007-12
2007-12-01T00:00:00Z
2018-06-01T14:42:54Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/15549
url http://hdl.handle.net/10400.5/15549
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Costa, Luís F. (2006). "GDP steady-state multipliers under monopolistic competition revisited". Portuguese Economic Journal, 6(3):181-204
1617-982X (print)
10.1007/s10258-007-0027-8
dc.rights.driver.fl_str_mv metadata only access
info:eu-repo/semantics/openAccess
rights_invalid_str_mv metadata only access
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Springer Verlag
publisher.none.fl_str_mv Springer Verlag
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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