Entry and fiscal policy effectiveness in a small open economy within a Monetary Union

被引：0

作者：

Luís F. Costa

机构：

[1] Universidade Técnica de Lisboa,Instituto Superior de Economia e Gestão

来源：

Portuguese Economic Journal | 2006年 / 5卷

关键词：

Small economy; Entry; Fiscal policy; Endogenous mark-ups; D43; E32; E62; F41;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

In this article I develop an imperfectly competitive dynamic general equilibrium model for a small open economy integrated in a monetary union. Here, the type of entry in the non-traded goods’ sector affects fiscal policy effectiveness. Fiscal policy effectiveness is enlarged when aggregate demand stimuli increase intra-industrial competition (case I). This is due to the counter-cyclical mark-up mechanism generated by entry. Such a mechanism is absent in the usual monopolistic competition where entry only has a sharing effect (case II).

引用

页码：45 / 65

页数：20

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