MODELS OF COMPETITION BETWEEN FIRMS: ENDOGENOUS MARKET STRUCTURE IN THE KALECKIAN MODEL

Takashi Ohno

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MODELS OF COMPETITION BETWEEN FIRMS: ENDOGENOUS MARKET STRUCTURE IN THE KALECKIAN MODEL

机译：企业之间的竞争模型：Kaleckian模型中的内生市场结构

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The purpose of this paper is to incorporate free entry into the Kaleckian model. To this end, we consider a model with monopolistic competition, mark-up pricing and a free-entry condition. Using this model, the Kaleckian model is unstable under a wage-led growth regime, and it is stable under a profit-led growth regime, when the interest rate is supposed to be constant. Stability under a wage-led growth can be achieved if the interest rate is allowed to respond positively to capacity utilization. We also find that a goods market policy, but not an income distribution policy, is then effective from an economic growth perspective.

机译：本文的目的是将自由进入纳入Kaleckian模型。为此，我们考虑具有垄断竞争，加价定价和自由进入条件的模型。使用该模型，在假定利率恒定的情况下，Kaleckian模型在工资主导的增长机制下是不稳定的，在利润主导的增长机制下是稳定的。如果允许利率对产能利用率做出积极响应，则可以实现工资主导型增长下的稳定性。我们还发现，从经济增长的角度来看，商品市场政策而非收入分配政策才有效。

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《Metroeconomica》 |2013年第1期|103-124|共22页
作者
Takashi Ohno;
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Ritsumeikan University 1-1-1 Noji Higashi Kusatsu Shiga 525-8577 Japan;

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MODELS OF COMPETITION BETWEEN FIRMS: ENDOGENOUS MARKET STRUCTURE IN THE KALECKIAN MODEL

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