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Title: Macroeconomic (in)stability and endogenous market structure with productive government expenditure
Authors: Chang, Cheng-Wei;Lai, Ching-Chong
Contributors: 經濟學系
Keywords: congestion;endogenous market structure;internal returns to scale;local indeterminacy;productive government expenditure
Date: 2017-04
Issue Date: 2017-07-31 15:35:35 (UTC+8)
Abstract: We consider the congestion effect of productive government spending in a monopolistic competition model with endogenous entry, and analyze the possibility of local indeterminacy. Some main findings emerge from the analysis. First, the indeterminacy condition is independent of the monopoly power. Second, productive government expenditure can be a source of local indeterminacy, while a higher degree of public goods congestion lessens the beneficial effect of productive government expenditure, and therefore reduces the possibility of indeterminacy. Third, a higher degree of internal returns to scale is associated with a lower possibility for the emergence of indeterminacy when production externalities are present. © 2017 Walter de Gruyter GmbH, Berlin/Boston 2017.
Relation: Studies in Nonlinear Dynamics and Econometrics, 21(2), 論文編號 20160002
Data Type: article
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