Endogеnous Mаrkеt Structurеs аnd thе Mаcroеconomy
Publisher: Springеr
Number of Pages: 346
Published: 2009-08-01
List price: $179.00
The book introduces a new approach to macroeconomics based on endogenous market structures (EMSs), with a close focus on business cycles, international trade and policy and growth. Chapter 1 reviews the standard neoclassical approach to macroeconomics. Chapter 2 extends it to EMSs with strategic interactions and endogenous entry of firms. Chapter 3 introduces EMSs in a model of the business cycle, shows that they allow us to outperform RBC models in explaining the cyclical variability of US data, and studies fiscal and monetary policy. Chapter 4 introduces EMSs in international trade, applie...