| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP280 |
| DP280 Imperfect Competition, Underemployment Equilibria and Fiscal Policy | |
| Marco Pagano | |
| 发表日期 | 1989-05-01 |
| 出版年 | 1989 |
| 语种 | 英语 |
| 摘要 | It is often claimed that the demand externality created by imperfectly competitive markets can provide an analytical basis for Keynesian fiscal policy prescriptions. Here this demand externality is embedded in a model where saving and employment are determined by optimizing choices in an imperfectly competitive setting. It turns out that underemployment equilibria do exist, that there is scope for fiscal intervention, but that Keynesian fiscal prescriptions are turned on their head. Demand externalities among imperfectly competitive firms do not in general provide a theoretical basis for these prescriptions, unless supplemented by other deviations from the Walrasian standard in the labor or capital market. |
| 主题 | International Macroeconomics |
| 关键词 | Employment Externalities Fiscal policy Imperfect competition Underemployment |
| URL | https://cepr.org/publications/dp280 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529465 |
| 推荐引用方式 GB/T 7714 | Marco Pagano. DP280 Imperfect Competition, Underemployment Equilibria and Fiscal Policy. 1989. |
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