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dc.contributor.authorKoeniger, Winfrieden
dc.contributor.authorLicandro, Omaren
dc.date.accessioned2009-01-28T16:12:40Z-
dc.date.available2009-01-28T16:12:40Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/20242-
dc.description.abstractThe effects of competition on growth are analyzed in the recent literature by comparingeconomies with the same market structure but different degrees of substitutability. In thisnote, we show that in a general equilibrium model with monopolistic competition – la Dixit-Stiglitz the effect of substitutability on the allocation of resources is independent of theassociated change in competition. Higher substitutability increases welfare, output andproductivity because resources shift towards the most productive sectors. However, sincemarkups are equal across sectors, changes in market power do not affect the relative price ofconsumption goods, implying that the induced changes in market power do not have anydirect effect on equilibrium allocations.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x1007en
dc.subject.jelL16en
dc.subject.ddc330en
dc.subject.keywordmonopolistic competitionen
dc.subject.keywordsubstitutionen
dc.subject.keywordmarket poweren
dc.subject.keywordoutputen
dc.subject.stwMonopolistischer Wettbewerben
dc.subject.stwProduktsubstitutionen
dc.subject.stwMarktmachten
dc.subject.stwAllgemeines Gleichgewichten
dc.subject.stwWirtschaftswachstumen
dc.subject.stwTheorieen
dc.titleSubstitutability and Competition in the Dixit-Stiglitz Model-
dc.typeWorking Paperen
dc.identifier.ppn378733184en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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