The Macroeconomics of Imperfect Competition and Nonclearing Markets: A Dynamic General Equilibrium Approach

Benassy, Jean-Pascal

ISBN 10: 0262025280 / ISBN 13: 9780262025287

Published by Mit Pr, 2003

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Synopsis:

In this book, Jean-Pascal Benassy attempts to integrate into a single unified framework dynamic macroeconomic models reflecting such diverse lines of thought as general equilibrium theory, imperfect competition, Keynesian theory, and rational expectations. He begins with a simple microeconomic synthesis of imperfect competition and nonclearing markets in general equilibrium under rational expectations. He then applies this framework to a large number of dynamic macroeconomic models, covering such topics as persistent unemployment, endogenous growth, and optimal fiscal-monetary policies. The macroeconomic methodology he uses is similar in spirit to that of the popular real business cycles theory, but the scope is much wider. All of the models are solved "by hand," making the underlying economic mechanisms particularly clear.

About the Author: Jean-Pascal Bénassy is Director of Research at CNRS (National Center for Scientific Research), Paris, and a Research Fellow at CEPREMAP (Center for Economic Research and Applications). He is the author of The Macroeconomics of Imperfect Competition and Nonclearing Markets: A Dynamic General Equilibrium Approach (MIT Press, 2002).

Bibliographic Details

Title: The Macroeconomics of Imperfect Competition ...
Publisher: Mit Pr
Publication Date: 2003
Binding: hardcover
Condition: Very Good