search query: @author Kiyotaki, N. / total: 5
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| Author: | Blanchard, O. J. Kiyotaki, N. |
| Title: | Monopolistic competition and the effects of aggregate demand |
| Journal: | American Economic Review
1987 : SEP, VOL. 77:4, P. 647-666 |
| Index terms: | MONOPOLY COMPETITION |
| Language: | eng |
| Abstract: | It is examined how important monopolistic competition is to an understanding of the effects of aggregate demand on output. The question is asked at three levels: whether monopolistic competition, by itself, can, explain why aggregate demand in movements affect output. Whether it can together with other imperfections, generate effects of aggregate demand in a way that perfect competition cannot, and finally, if so, whether it can give an accurate account of the response of the economy to aggregate demand movements. The answers are no, yes, and yes. |
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