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Title:Fiscal policy under imperfect competition with flexible prices: An overview and survey PDF Logo
Authors:Costa, Luís F.
Dixon, Huw David
Issue Date:2011
Citation:[Journal:] Economics: The Open-Access, Open-Assessment E-Journal [Volume:] 5 [Issue:] 2011-3 [Pages:] 1-57
Series/Report no.:Economics 2011-3
Abstract:This paper surveys the link between imperfect competition and the effects of fiscal policy on output, employment and welfare. We examine static and dynamic models, with and without entry under a variety of assumptions using a common analytical framework. We find that in general there is a robust relationship between the fiscal multiplier and welfare, the tantalizing possibility of Pareto improving fiscal policy is much more elusive. In general, the mechanisms are supply side, and so welfare improving policy, whilst possible, is not a general result.
Subjects:Fiscal policy
imperfect competition
JEL:E62
Persistent Identifier of the first edition:doi:10.5018/economics-ejournal.ja.2011-3
Creative Commons License:http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
Document Type:Article
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles

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