Macroeconomics and Imperfect Competition

By: Jean-Pascal Benassy (Editor)

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Hardcover | 1 January 1995

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544 Pages

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26.04 x 17.78 x 4.45

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The macroeconomics of imperect competition has become in recent years a most influential paradigm, which many macroeconomists now prefer to the "Classical" of "Keynesian" ones, notably because of its clear and rigorous microfoundations. This volume collects and puts into perspective the leading contributions to this important and rapidly expanding field. It contains 28 articles, dating from 1939 to 1991. Contributors include: T.M. Anderson, R. Barro, H. Dixon, W. Leontief, T. Negishi and H. Sneessens.

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Non-Fiction Economics Macroeconomics Economic Theory & Philosophy

Acknowledgements
Introduction
General Equilibrium Models
Existence of an Under-Employment Equilibrium	p. 3
A Neokeynesian Model of Price and Quantity Determination in Disequilibrium	p. 17
A Model of Imperfect Competition with Keynesian Features	p. 51
Imperfect Competition, Underemployment and Crowding-Out	p. 81
The Simple Macroeconomics of Profit Sharing	p. 107
Imperfect Competition, Unemployment and Policy	p. 124
Monopolistic Competition and the Effects of Aggregate Demand	p. 134
A Simple Model of Imperfect Competition with Walrasian Features	p. 154
Imperfect Competition, Unemployment Benefit and the Non-Neutrality of Money: An Example	p. 181
Microeconomic Foundations and Properties of a Macroeconomic Model with Imperfect Competition	p. 193
Imperfect Competition and Price Rigidities
Market Structure
Demand under Conditions of Oligopoly	p. 215
Price Rigidities and Market Structure	p. 221
Costly Price Changes
A Theory of Monopolistic Price Adjustment	p. 229
Aggregate Consequences of Fixed Costs of Price Adjustment	p. 239
Inventories
Inventories and Sticky Prices: More on the Microfoundations of Macroeconomics	p. 245
Imperfect Information
Price and Output Responsiveness to Nominal Changes under Differential Information	p. 263
Rational Expectations and Price Rigidity in a Monopolistically Competitive Market	p. 288
Sticky Prices and Asset Pricing
Sticky Goods Prices, Flexible Asset Prices, Monopolistic Competition, and Monetary Policy	p. 301
Macroeconomic Rationing
Investment and the Inflation-Unemployment Tradeoff in a Macroeconomic Rationing Model with Monopolistic Competition	p. 325
Labour Markets
Trade Unions
The Pure Theory of the Guaranteed Annual Wage Contract	p. 357
Wage Determination in an Economy with Many Trade Unions	p. 361
Wage Bargaining and Employment	p. 378
Employment Policies, Wage Formation and Trade Union Behavior in a Small Open Economy	p. 391
Wage Indexation
Wage Indexation: A Macroeconomic Approach	p. 423
Implicit Contracts
Optimal Wage Bargains	p. 441
Efficiency Wages
Equilibrium Unemployment as a Worker Discipline Device	p. 453
Insiders-Outsiders
Wage Formation and the Persistence of Unemployment	p. 467
Cooperation, Harassment, and Involuntary Unemployment: An Insider-Outsider Approach	p. 475
Name Index
Table of Contents provided by Blackwell. All Rights Reserved.

Macroeconomics and Imperfect Competition

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