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Article: Market structure and fiscal policy effectiveness
Title | Market structure and fiscal policy effectiveness |
---|---|
Authors | |
Keywords | Fiscal Multiplier Imperfect Competition Monopoly Power Welfare |
Issue Date | 2001 |
Publisher | Blackwell 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? |
Abstract | In 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 Identifier | http://hdl.handle.net/10722/177686 |
ISSN | 2021 Impact Factor: 1.109 2020 SCImago Journal Rankings: 1.725 |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Molana, H | en_US |
dc.contributor.author | Zhang, J | en_US |
dc.date.accessioned | 2012-12-19T09:39:32Z | - |
dc.date.available | 2012-12-19T09:39:32Z | - |
dc.date.issued | 2001 | en_US |
dc.identifier.citation | Scandinavian Journal Of Economics, 2001, v. 103 n. 1, p. 147-164 | en_US |
dc.identifier.issn | 0347-0520 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177686 | - |
dc.description.abstract | In 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.language | eng | en_US |
dc.publisher | Blackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/SJOE | en_US |
dc.relation.ispartof | Scandinavian Journal of Economics | en_US |
dc.subject | Fiscal Multiplier | en_US |
dc.subject | Imperfect Competition | en_US |
dc.subject | Monopoly Power | en_US |
dc.subject | Welfare | en_US |
dc.title | Market structure and fiscal policy effectiveness | en_US |
dc.type | Article | en_US |
dc.identifier.email | Zhang, J: jjzhang@econ.hku.hk | en_US |
dc.identifier.authority | Zhang, J=rp01124 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.scopus | eid_2-s2.0-0035608239 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-0035608239&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 103 | en_US |
dc.identifier.issue | 1 | en_US |
dc.identifier.spage | 147 | en_US |
dc.identifier.epage | 164 | en_US |
dc.publisher.place | United Kingdom | en_US |
dc.identifier.scopusauthorid | Molana, H=6603124142 | en_US |
dc.identifier.scopusauthorid | Zhang, J=55367373100 | en_US |
dc.identifier.issnl | 0347-0520 | - |