Monopolistic Competition When Income Matters
Monopolistic Competition When Income Matters
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当收入很重要时垄断竞争
DOI：
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发表时间：
2017
期刊：
影响因子：
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通讯作者：
Federico Etro
中科院分区：
文献类型：
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作者：
P. Bertoletti;Federico Etro
我们研究垄断竞争的特点是一个可分离的间接效用，而不是一个可分离的直接效用的Dixit-Stiglitz模型的差异化商品的偏好，与CES的情况下，作为唯一的共同点。示例包括线性和对数线性直接需求。在自由进入的均衡中，消费者数量的增加对价格是中性的，但企业数量也相应增加，只是从品种中创造了纯收益。与迪克西特-斯蒂格利茨模型相反，当且仅当需求的价格弹性增加时，消费者收入的增加会使价格和品种数量增加。我们还讨论了扩展到一个外部的好，异质的消费者，异质的公司一拉Melitz和内生质量。最后，我们提供了一个应用程序的国际贸易产生定价的市场在一个推广的克鲁格曼模型。
We study monopolistic competition with preferences over differentiated goods characterized by a separable indirect utility rather than a separable direct utility as in the Dixit-Stiglitz model, with the CES case as the only common ground. Examples include linear and log-linear direct demands. In equilibrium with free entry, an increase of the number of consumers is neutral on prices, but increases proportionally the number of firms, just creating pure gains from variety. Contrary to the Dixit-Stiglitz model, an increase in consumer income increases prices and more than proportionally the number of varieties if and only if the price elasticity of demand is increasing. We also discuss extensions to an outside good, heterogeneous consumers, heterogeneous firms a la Melitz and endogenous quality. Finally, we provide an application to international trade generating pricing to market in a generalized Krugman model.