Business Cycles in a Dynamic General Equilibrium Model with  Monopolistic and Perfect Competition

Wei-bin ZHANG

doi:https://doi.org/10.33399/biibfad.644677

Makale detayları

Business Cycles in a Dynamic General Equilibrium Model with Monopolistic and Perfect Competition

Yazarlar:

Wei-bin ZHANG

Yayıncı:

Bingol University

Ana Başlıklar:

Ekonomi ve Maliye

Dergi:

Bingol University Journal of Economics and Administrative Sciences 2020 Vol.4 Issue 1, pp.11-33

Belge Tipi:

Makale

Yayın Tarihi:

8/2020

Belge Dili:

İngilizce

Document ID (Org No.):

2000903905

Sıklık:

İki Yıllık

eISSN:

2651-3307

pISSN:

2651-3234

DOI:

https://doi.org/10.33399/biibfad.644677

Anahtar kelimeler:

Özet:

 


The purpose of this study is to explain business
cycles by developing a neoclassical growth model with perfect and monopolistic
competition. The study generalizes the model by Zhang (2019) by making all the
constant coefficients to be time dependent. The model determines income and
wealth distribution on the basis of Walrasian general equilibrium theory,
neoclassical growth theory, and Dixit-Stiglitz monopolistic competitive theory.
The paper makes a unique contribution to the literature of economic growth with
perfect and monopolistic competition by showing existence of business cycles
due to exogenous shocks in the model with the economic mechanisms in the three
main models of economic theory. The study shows how different shocks cause business
cycles as argued by real business theory in macroeconomics.

.

 

The purpose of this study is to explain business
cycles by developing a neoclassical growth model with perfect and monopolistic
competition. The study generalizes the model by Zhang (2019) by making all the
constant coefficients to be time dependent. The model determines income and
wealth distribution on the basis of Walrasian general equilibrium theory,
neoclassical growth theory, and Dixit-Stiglitz monopolistic competitive theory.
The paper makes a unique contribution to the literature of economic growth with
perfect and monopolistic competition by showing existence of business cycles
due to exogenous shocks in the model with the economic mechanisms in the three
main models of economic theory. The study shows how different shocks cause business
cycles as argued by real business theory in macroeconomics.

Makale detayları

Business Cycles in a Dynamic General Equilibrium Model with Monopolistic and Perfect Competition

Yazarlar:

Wei-bin ZHANG

Yayıncı:

Bingol University

Ana Başlıklar:

Ekonomi ve Maliye

Dergi:

Bingol University Journal of Economics and Administrative Sciences 2020 Vol.4 Issue 1, pp.11-33

Belge Tipi:

Makale

Yayın Tarihi:

8/2020

Belge Dili:

İngilizce

Document ID (Org No.):

2000903905

Sıklık:

İki Yıllık

eISSN:

2651-3307

pISSN:

2651-3234

DOI:

https://doi.org/10.33399/biibfad.644677

Business cycles

Solow model

Dixit-Stiglitz model

monopolistic competition

Sayı

Makale detayları

Business Cycles in a Dynamic General Equilibrium Model with Monopolistic and Perfect Competition

Yazarlar: Wei-bin ZHANG

Yayıncı: Bingol University

Ana Başlıklar: Ekonomi ve Maliye

Dergi: Bingol University Journal of Economics and Administrative Sciences 2020 Vol.4 Issue 1, pp.11-33

Belge Tipi: Makale

Yayın Tarihi: 8/2020

Belge Dili: İngilizce

Document ID (Org No.): 2000903905

Sıklık: İki Yıllık

eISSN: 2651-3307

pISSN: 2651-3234

DOI: https://doi.org/10.33399/biibfad.644677

Business cycles

Solow model

Dixit-Stiglitz model

monopolistic competition

Sayı

Yazarlar:

Wei-bin ZHANG

Yayıncı:

Bingol University

Ana Başlıklar:

Ekonomi ve Maliye

Dergi:

Bingol University Journal of Economics and Administrative Sciences 2020 Vol.4 Issue 1, pp.11-33

Belge Tipi:

Makale

Yayın Tarihi:

8/2020

Belge Dili:

İngilizce

Document ID (Org No.):

2000903905

Sıklık:

İki Yıllık

eISSN:

2651-3307

pISSN:

2651-3234

DOI:

https://doi.org/10.33399/biibfad.644677