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Titolo:
Efficiency and equilibrium with dynamic increasing aggregate returns due to demand complementarities
Autore:
Ciccone, A; Matsuyama, K;
Indirizzi:
Univ Calif Berkeley, Dept Econ, Berkeley, CA 94720 USA Univ Calif Berkeley Berkeley CA USA 94720 pt Econ, Berkeley, CA 94720 USA Northwestern Univ, Dept Econ, Chicago, IL 60610 USA Northwestern Univ Chicago IL USA 60610 , Dept Econ, Chicago, IL 60610 USA
Titolo Testata:
ECONOMETRICA
fascicolo: 3, volume: 67, anno: 1999,
pagine: 499 - 525
SICI:
0012-9682(199905)67:3<499:EAEWDI>2.0.ZU;2-1
Fonte:
ISI
Lingua:
ENG
Soggetto:
CONCAVE PRODUCTION FUNCTION; OPTIMAL-GROWTH;
Keywords:
dynamic nonconvexities at the disaggregate level; dynamic nonconvexities at the aggregate level; Hicks-Allen complements (substitutes; optimal intertemporal allocations; dynamic equilibrium allocations; dynamic inefficiencies;
Tipo documento:
Article
Natura:
Periodico
Settore Disciplinare:
Social & Behavioral Sciences
Citazioni:
16
Recensione:
Indirizzi per estratti:
Indirizzo: Ciccone, A Univ Calif Berkeley, Dept Econ, 507 Evans Hall, Berkeley, CA 94720 USA Univ Calif Berkeley 507 Evans Hall Berkeley CA USA 94720 20 USA
Citazione:
A. Ciccone e K. Matsuyama, "Efficiency and equilibrium with dynamic increasing aggregate returns due to demand complementarities", ECONOMETRIC, 67(3), 1999, pp. 499-525

Abstract

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 degree of Hicks-Alien complementarity (substitutability) between differentiated inputs. In our simplest model, a generalization of judd (1985) and Grossman and Helpman (1991) among many others, there are dynamic nonconvexities at the aggregate level if and only if differentiated inputs are Hicks-Alien complements. We also compare dynamic equilibrium and optimal allocationsin the presence of aggregate dynamic nonconvexities due to Hicks-Alien complementarities between differentiated inputs.

ASDD Area Sistemi Dipartimentali e Documentali, Università di Bologna, Catalogo delle riviste ed altri periodici
Documento generato il 04/04/20 alle ore 02:28:53