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level in an oligopoly supergame where a positive shock may hit demand and disrupt collusion. The novel feature of our model … consists in characterising the post-shock noncooperative price and comparing it against the cartel price played in the last …
Persistent link: https://www.econbiz.de/10011705503
Persistent link: https://www.econbiz.de/10012662572
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-push shock by paying a lump-sum adjustment cost in order to offset the initial rise in marginal cost. Our results show that the … size of the shock and the size of the adjustment cost jointly determine the nature and the number of the equilibria …
Persistent link: https://www.econbiz.de/10011725691
In this paper we verify the functioning of the standard neoclassical adjustment to equilibrium after a demand shock in … guaranteed. We show that the size of the demand shock determines the nature and number of equilibria generated by strategic …
Persistent link: https://www.econbiz.de/10011730005
Persistent link: https://www.econbiz.de/10003911885
-push shock by paying a lump-sum adjustment cost in order to offset the initial rise in marginal cost. Our results show that the … size of the shock and the size of the adjustment cost jointly determine the nature and the number of the equilibria …
Persistent link: https://www.econbiz.de/10013045309
level in an oligopoly supergame where a positive shock may hit demand and disrupt collusion. The novel feature of our model … consists in characterising the post-shock noncooperative price and comparing it against the cartel price played in the last …
Persistent link: https://www.econbiz.de/10012993713
Mark-up cyclical behaviour is relevant in determining the size of government spending multiplier on output. While theoretical literature priviliged the counteryclical hypothesis, empirical evidence is far from being conclusive. Based on seminal Rotemberg and Saloner (1986) contribution, we build...
Persistent link: https://www.econbiz.de/10011731493
Mark-up cyclical behaviour is relevant in determining the size of government spending multiplier on output. While theoretical literature priviliged the counteryclical hypothesis, empirical evidence is far from being conclusive. Based on seminal Rotemberg and Saloner (1986) contribution, we build...
Persistent link: https://www.econbiz.de/10013108677