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| Author: | Neary, J.P. |
| Title: | Globalization and market structure |
| Journal: | Journal of the European Economic Association
2003 : APR-MAY, VOL. 2-3, p. 245-271 |
| Index terms: | Competition Globalization Market structure |
| Language: | eng |
| Abstract: | Some puzzling economic aspects of globalization are reviewed in this paper and it is argued that they cannot be satisfactory addressed in perfectly or monopolistically competitive models. A model of oligopoly in general equilibrium that is drawn on recent work is sketched in this article. The model ensures theoretical consistency by assuming that firms are large in their own markets but small in the economy as a whole, and ensures tractability by assuming quadratic preferences defined over a continuum of goods. |
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