Table of contents for The macroeconomics of imperfect competition and nonclearing markets : a dynamic general equilibrium approach / Jean-Pascal B‚enassy.


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Preface

Part I From Microeconomics to Macroeconomics

1  Basic Concepts

1.1 Introduction
1.2 Walrasian Theory: The Missing Parts
1.3 Transactions in Nonclearing Markets
1.4 Quantity Signals                      '
1.5 Effective Demand and Supply
1.6 The Formation of Prices
1.7 Conclusions
1.8 References
Appendix 1.1: Manipulable Rationing Schemes

2  A Simple Macroeconomic Example

2.1 Introduction
2.2 The Economy
2.3 Walrasian Equilibrium
2.4 Fixprice-Fixwage Equilibria
2.5 An Imperfectly Competitive Model
2.6 Conclusions
2.7 References



Part II General Equilibrium

3  General Equilibrium Concepts

3.1 Introduction
3.2 Walrasian Equilibrium
3.3 Rationing Schemes and Quantity Signals
3.4 Fixprice Equilibria
3.5 Price Setting and General Equilibrium
3.6 Optimality
3.7 Conclusions
3.8 References
Appendix 3.1: Proof of Proposition 1

Part III Imperfect Competition, Underemployment,
and Welfare

4  Are Imperfect Competition Models Keynesian?

4.1 Introduction
4.2 The Model
4.3 Objective Demand Curves
4.4 The Imperfect Competition Equilibrium
4.5 Apparent Keynesian Inefficiencies
4.6 The Impact of Government Policies
4.7 Conclusions
4.8 References
Appendix 4.1: A Welfare Paradox

5  Bargaining Power, Underemployment, and Welfare

5.1 Introduction
5.2 The Model
5.3 Price Setting and Equilibrium
5.4 Wage Negotiations
5.5 General Equilibrium
5.6 Bargaining Power and Global Efficiency
5.7 Conclusions
5.8 References



Part IV Imperfect Competition, Fluctuations, and Growth

6  Fluctuations and Imperfect Competition

6.1 Introduction
6.2 The Model
6.3 Resolution
6.4 Properties of the Dynamic Equilibrium
6.5 Conclusions
6.6 References

7  Unemployment Persistence

7.1 Introduction
7.2 The Model
7.3 Resolution
7.4 The Two Regimes: Dynamics and Persistence
7.5 Numerical Simulations
7.6 Conclusions
7.7 References

8  Endogenous Growth

8.1 Introduction
8.2 The Model
8.3 Dynamic Equilibrium
8.4 Resolution                            
8.5 Dynamics and the Growth Rate
8.6 Conclusions
8.7 References
Appendix 8.1: Different Production Functions

Part V Nominal Rigidities and Fluctuations

9  Wage Rigidities and Employment Fluctuations

9.1 Introduction
9.2 The Model
9.3 The Walrasian Regime
9.4 Wage Contracts
9.5 The Cyclical Behavior of Real Wages, Prices, and Inflation



9.6 Endogenizing Wage Formation
9.7 Conclusions
9.8 References
Appendix 9.1: Incomplete Depreciation

10  Staggered Contracts and Persistence

10.1 Introduction
10.2 The Model
10.3 The Walrasian Regime
10.4 Wage Contracts
10.5 Macroeconomic Dynamics
10.6 Conclusions
10.7 References
Appendix 10.1: Incomplete Depreciation
Appendix 10.2: Aggregation across Output Types
Appendix 10.3: Proofs of Propositions 2 and 4

11 Market Power, Voluntary Exchange, and
Unemployment Fluctuations

11.1 Introduction
11.2 The Model
11.3 Equilibrium with Flexible Wages
11.4 Preset Wages
11.5 Macroeconomic Equilibrium
11.6 Conclusions
11.7 References
Appendix 11.1: Storability and the Probability of Rationing

Part VI Economic Policy

12  Nominal Rigidities and Policy Activism

12.1 Introduction
12.2 The Model
12.3 Walrasian Equilibrium
12.4 Optimality
12.5 Preset Wages
12.6 The Optimality of Activist Policies
12.7 Conclusions



12.8 References
Appendix 12.1: The Sargent-Wallace Argument
Appendix 12.2: Taxing All Households
Appendix 12.3: A Robustness Argument

13  Imperfect Competition and Activist Policies

13.1 Introduction
13.2 The Model
13.3 Some Basic Relations
13.4 Flexible Prices and Wages
13.5 Preset Wages
13.6 Optimal Government Policy
13.7 Conclusions

14  The Optimal Policy Mix

14.1 Introduction
14.2 The Model
14.3 General Equilibrium Relations
14.4 Optimality
14.5 Walrasian Equilibrium
14.6 Preset Wages
14.7 Preset Prices
14.8 Conclusions
14.9 References

15  Monetary Rules and Fiscal Policy

15.1 Introduction
15.2 The Model
15.3 General Equilibrium Relations
15.4 Preset Wages Equilibria
15.5 The Optimal Monetary Rule
15.6 The Optimal Policy Mix
15.7 A Comparison
15.8 Conclusions
15.9 References

Bibliography
Index





Library of Congress Subject Headings for this publication:Macroeconomics Mathematical models, Rational expectations (Economic theory) Mathematical models, Equilibrium (Economics)Keynesian economics Mathematical models, Competition, Imperfect Mathematical models