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Efficiency and equilibrium with dynamic increasing aggregate returns due to demand complementarities.

When do dynamic nonconvexities at the disaggregate level translate into dynamic nonconvexities at the aggregate level? We address this question in a framework where the production of differentiated intermediate inputs is subject to dynamic nonconvexities, and we show that the answer depends on the...

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Published in:Econometrica Vol. 67; no. 3; pp. 499 - 526
Main Authors: Ciccone, Antonio, Matsuyama, Kiminori
Format: Article
Published: Wiley-Blackwell May 1999
Subjects:
Economic equilibrium
Substitution (Economics)
Mathematical models
Intermediate goods
Resource allocation > Mathematical models
Online Access:View this record in EBSCOhost

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