Creator

• Matsuyama, Kiminori

Series

• Discussion paper (Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics)

Issue number

• 081

Date created

• 1993-05-01

Abstract

• In recent years, monopolistic competition models have frequently been applied in macroeconomics, international and interregional economics, and economic growth and development. In this paper, I present a highly selective review in this area, with special emphasis on the complementarity and its role of generating multiplier processes, agglomeration, underdevelopment traps, regional disparities, and sustainable growth, or more generally, what Myrdal (1957) called the “principle of circular and cumulative causation.”

Subject (JEL)

• D43 - Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection
• E10 - General Aggregative Models: General
• L13 - Oligopoly and Other Imperfect Markets

Related information

• Published in: BOJ Monetary and Economic Studies (Vol. 11, No. 1, July 1993, pp. 87-109).

Corporate Author

• Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics

Publisher

• Federal Reserve Bank of Minneapolis

Resource type

• Research Paper

DOI

•  https://doi.org/10.21034/dp.81

License

• Creative Commons BY-NC Attribution-NonCommercial 4.0 International

In Collection:

• Discussion Papers

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