Macroeconomics with Endogenous Markups and Optimal Taxation.
I augment a flexible price dynamic general equilibrium model with any symmetric intratemporal preferences over a variety of goods supplied under monopolistic, Bertrand, or Cournot competition to derive implications for business cycle and market inefficiencies. Endogenous markups can magnify the impa...
| Publicado en: | Southern Economic Journal Vol. 85; no. 2; pp. 378 - 407 |
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| Formato: | Artículo |
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Wiley-Blackwell
Oct2018
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=133013155&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 133013155 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00384038 SEJ jtl: Southern Economic Journal issn: 00384038 maglogo: N pubinfo: dt: Oct2018 vid: 85 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 133013155 10.1002/soej.12305 ppf: 378 ppct: 29 formats: fmt: – @attributes: type: T – @attributes: type: P size: 247KB tig: atl: Macroeconomics with Endogenous Markups and Optimal Taxation. aug: au: Etro, Federico affil: University of Florence and Charles River Associates, 8 Finsbury Circle, EC2M7/EA, London UK su: Economic equilibrium Consumer goods Labor supply Consumption (Economics) Fiscal policy sug: subj: Economic equilibrium Consumer goods Labor supply Consumption (Economics) Fiscal policy All Other Consumer Goods Rental Public Finance Activities Temporary Help Services keyword: E1 E2 E3 E1 E2 E3 ab: I augment a flexible price dynamic general equilibrium model with any symmetric intratemporal preferences over a variety of goods supplied under monopolistic, Bertrand, or Cournot competition to derive implications for business cycle and market inefficiencies. Endogenous markups can magnify the impact of shocks on consumption and labor supply through intertemporal substitution mechanisms, and the optimal fiscal policy requires a variable labor income subsidy and a capital income tax that converges to zero in the long run. With an endogenous number of goods and strategic interactions, entry also affects markups and the optimal fiscal policy requires also a tax on profits. I characterize equilibrium and efficient market structures and derive optimal tax rules for a variety of preferences, including a new type of general additive preferences that nest direct, indirect, implicit, and homothetic additivity. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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