Keynesian Multipliers and the Cost of Public Funds Under Monopolistic Competition
Datos Bibliográficos
| ID | 9717243 |
|---|---|
| Autores | Ben J Heijdra (0000-0001-9261-7283, Tinbergen Institute), Frederick Van Der Ploeg (Tinbergen Institute) |
| Año | 1996 |
| Volumen | 106 |
| Número | 438 |
| Páginas | 1284 |
| Fecha de publicación | 1996-09-01 |
| Peer Reviewed | Sí |
| Open Access | No |
| Tipo | ARTICLE |
| Revista | The Economic Journal (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Editorial | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.2307/2235521 |
| OpenAlex | W2055632460 |
| Idioma | EN |
| Citas recibidas | 1 |
| Referencias citadas | 2 |
The authors extend macroeconomic models of imperfect competition with Keynesian features to allow for nonunitary elasticities between leisure and consumption and the effect of product variety on multipliers and welfare. Provided preference for diversity is sufficiently strong, the real national income multiplier for a given rise in real public spending is larger under free than under restricted entry and exit of firms. This implies a procyclical real consumer wage. With lump-sum taxes, the marginal cost of public funds is below unity. Optimal public spending may be countercyclical. More priority for public goods raises the long-run cost of public funds. Copyright 1996 by Royal Economic Society
Competition (biology · Economics · Keynesian economics · Microeconomics · Monopolistic competition · Monopoly · Climate Change Policy and Economics · Fiscal Policy and Economic Growth · Politics, Economics, and Education Policy
| Obras citantes distintas | 1 |
|---|---|
| Citas por año | 0,05 |
| Intervalo de citas | 2007 - 2007 (1) |
| Velocidad de citación | historical |
| Altamente citado | No |
| Tipos de cita | Neutras: 1 |