On financial frictions and firm's market power.
There are two opposing welfare effects of market power in a model with monopolistic competition, loan defaults and moral hazard. The loss of output produced if firms set a higher mark‐up over marginal costs confronts with some gain due to higher expected profits and the reduction of defaults. Such t...
| Publicado en: | Economic Inquiry Vol. 61; no. 4; pp. 982 - 1006 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Oct2023
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |