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Article: The effects of inflation on the number of firms and firm size

TitleThe effects of inflation on the number of firms and firm size
Authors
Issue Date2001
Citation
Journal Of Money, Credit And Banking, 2001, v. 33 n. 2, p. 251-271 How to Cite?
AbstractA typical money and growth model generally incorporates an implicit assumption that the number of firms (or the set of goods available) is fixed. This paper attempts to investigate the implications of relaxing this assumption in a monopolistically competitive model with endogenous markup. It is found that among other effects, inflation reduces the number of firms and each firm's size; moreover, due to this new channel, inflation induces secondary effects. One direct implication is that the welfare costs of inflation in our framework are substantially higher than those documented in existing models with standard features. Our findings suggest that it is the lessening of competition that appears to be the primary driving force.
Persistent Identifierhttp://hdl.handle.net/10722/177703
ISSN
2015 Impact Factor: 1.356
2015 SCImago Journal Rankings: 1.973
References

 

DC FieldValueLanguage
dc.contributor.authorWu, Yen_US
dc.contributor.authorZhang, Jen_US
dc.date.accessioned2012-12-19T09:39:37Z-
dc.date.available2012-12-19T09:39:37Z-
dc.date.issued2001en_US
dc.identifier.citationJournal Of Money, Credit And Banking, 2001, v. 33 n. 2, p. 251-271en_US
dc.identifier.issn0022-2879en_US
dc.identifier.urihttp://hdl.handle.net/10722/177703-
dc.description.abstractA typical money and growth model generally incorporates an implicit assumption that the number of firms (or the set of goods available) is fixed. This paper attempts to investigate the implications of relaxing this assumption in a monopolistically competitive model with endogenous markup. It is found that among other effects, inflation reduces the number of firms and each firm's size; moreover, due to this new channel, inflation induces secondary effects. One direct implication is that the welfare costs of inflation in our framework are substantially higher than those documented in existing models with standard features. Our findings suggest that it is the lessening of competition that appears to be the primary driving force.en_US
dc.languageengen_US
dc.relation.ispartofJournal of Money, Credit and Bankingen_US
dc.titleThe effects of inflation on the number of firms and firm sizeen_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-s2.0-0039738550en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0039738550&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume33en_US
dc.identifier.issue2en_US
dc.identifier.spage251en_US
dc.identifier.epage271en_US
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridWu, Y=7406895405en_US
dc.identifier.scopusauthoridZhang, J=55367373100en_US

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