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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP15475 |
DP15475 Constant Pass-Through | |
Kiminori Matsuyama; Philip Ushchev | |
发表日期 | 2020-11-20 |
出版年 | 2020 |
语种 | 英语 |
摘要 | We propose and characterize parametric families of homothetic demand systems, which feature a constant pass-through rate that is common across otherwise heterogenous monopolistically competitive firms. These parametric families offer natural, flexible, and yet tractable extensions of CES. In the case of complete pass-through, the markup rate is constant, as in CES, yet it can be heterogenous across firms, unlike in CES. In the case of incomplete pass-thorough, the price of each firm is log-linear in its marginal cost and its choke price with the common coefficients across firms. Tougher competition, captured by a lower “average price,” reduces the prices of all firms at a uniform rate, and hence without affecting their relative prices. Yet, it causes a disproportionately larger decline in the revenue and the profit among firms with lower markup rates. |
主题 | Industrial Organization ; International Macroeconomics and Finance ; International Trade and Regional Economics ; Macroeconomics and Growth ; Monetary Economics and Fluctuations |
关键词 | Homothetic demand systems Constant pass-through (copath) Constant price elasticity (cpe) Constant elasticity of substitution (ces) H.s.a. H.d.i.a. H.i.i.a. Monopolistic competition Heterogenous firms |
URL | https://cepr.org/publications/dp15475 |
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/544471 |
推荐引用方式 GB/T 7714 | Kiminori Matsuyama,Philip Ushchev. DP15475 Constant Pass-Through. 2020. |
条目包含的文件 | 条目无相关文件。 |
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