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Article: Market structure and fiscal policy effectiveness

TitleMarket structure and fiscal policy effectiveness
Authors
KeywordsFiscal Multiplier
Imperfect Competition
Monopoly Power
Welfare
Issue Date2001
PublisherBlackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/SJOE
Citation
Scandinavian Journal Of Economics, 2001, v. 103 n. 1, p. 147-164 How to Cite?
AbstractIn a monopolistic competition macromodel with endogenous market structure, the fiscal multiplier is shown to consist of two components. The first depicts the response of output to a fiscal expansion through the conventional channels that disregard the role of market imperfections. The second component captures the effects of firms' market power as well as the policy-induced change in market structure. The latter effect-which has not been taken into account in existing studies - is shown to be quite significant in raising the fiscal multiplier (even above unity) and in improving consumers' welfare when the labour market is competitive.
Persistent Identifierhttp://hdl.handle.net/10722/177686
ISSN
2015 Impact Factor: 1.298
2015 SCImago Journal Rankings: 1.432
References

 

DC FieldValueLanguage
dc.contributor.authorMolana, Hen_US
dc.contributor.authorZhang, Jen_US
dc.date.accessioned2012-12-19T09:39:32Z-
dc.date.available2012-12-19T09:39:32Z-
dc.date.issued2001en_US
dc.identifier.citationScandinavian Journal Of Economics, 2001, v. 103 n. 1, p. 147-164en_US
dc.identifier.issn0347-0520en_US
dc.identifier.urihttp://hdl.handle.net/10722/177686-
dc.description.abstractIn a monopolistic competition macromodel with endogenous market structure, the fiscal multiplier is shown to consist of two components. The first depicts the response of output to a fiscal expansion through the conventional channels that disregard the role of market imperfections. The second component captures the effects of firms' market power as well as the policy-induced change in market structure. The latter effect-which has not been taken into account in existing studies - is shown to be quite significant in raising the fiscal multiplier (even above unity) and in improving consumers' welfare when the labour market is competitive.en_US
dc.languageengen_US
dc.publisherBlackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/SJOEen_US
dc.relation.ispartofScandinavian Journal of Economicsen_US
dc.subjectFiscal Multiplieren_US
dc.subjectImperfect Competitionen_US
dc.subjectMonopoly Poweren_US
dc.subjectWelfareen_US
dc.titleMarket structure and fiscal policy effectivenessen_US
dc.typeArticleen_US
dc.identifier.emailZhang, J: jjzhang@econ.hku.hken_US
dc.identifier.authorityZhang, J=rp01124en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.scopuseid_2-s2.0-0035608239en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0035608239&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume103en_US
dc.identifier.issue1en_US
dc.identifier.spage147en_US
dc.identifier.epage164en_US
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridMolana, H=6603124142en_US
dc.identifier.scopusauthoridZhang, J=55367373100en_US

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