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| Author: | Ciccone, A. Matsuyama, K. |
| Title: | Efficiency and equilibrium with dynamic increasing aggregate returns due to demand complementarities |
| Journal: | Econometrica
1999 : MAY, VOL. 67:3, p. 499-525 |
| Index terms: | ECONOMETRICS EFFICIENCY CONVEX PROGRAMMING |
| Language: | eng |
| Abstract: | This paper provides a framework where the production of differentiated intermediate inputs is subject to dynamic nonconvexities, and shows that the answer to question when do dunamic nonconvexities at the disaggregate level translate into dynamic nonconvexities at the aggregate level, depends on the degree of Hicks-Allen complementarity between differentiated inputs. |
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