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Mixed Industrial Structure And Short‐Run Fiscal Multiplier

Author

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  • ROBERTO CENSOLO
  • CATERINA COLOMBO

Abstract

Existing studies on the fiscal multiplier under imperfect competition assume a symmetric market structure with identical firms. This paper examines the fiscal policy implications of introducing a multisectoral economy, where a composite commodity is offered in many varieties within a market of monopolistic competition and a homogeneous good is produced in a perfectly competitive environment. Within the context of this mixed industrial structure we show that the size of the short‐run multiplier crucially depends on the composition of public expenditure chosen by the government.

Suggested Citation

  • Roberto Censolo & Caterina Colombo, 2008. "Mixed Industrial Structure And Short‐Run Fiscal Multiplier," Australian Economic Papers, Wiley Blackwell, vol. 47(2), pages 156-165, June.
    • Handle: RePEc:bla:ausecp:v:47:y:2008:i:2:p:156-165
    DOI: 10.1111/j.1467-8454.2008.00338.x
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    Cited by:

    1. Chi‐Ting Chin & Ching‐Chong Lai & Ming‐Ruey Kao, 2010. "Welfare‐Maximising Pricing In A Macroeconomic Model With Imperfect Competition And Consumption Externalities," Australian Economic Papers, Wiley Blackwell, vol. 49(3), pages 200-208, September.
    2. Chiara Del Bo & Massimo Florio & Silvia Vignetti & Emanuela Sirtori, 2011. "Additionality and regional development: are EU Structural Funds complements or substitutes of national Public Finance?," Working Papers 201101, CSIL Centre for Industrial Studies.
    3. Luís F. Costa & Huw Dixon, 2009. "Fiscal Policy under Imperfect Competition: A Survey," Working Papers Department of Economics 2009/25, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    4. Hsieh Hui-ting & Lai Ching-chong & Chen Kuan-jen, 2015. "A Macroeconomic Model of Imperfect Competition with Patent Licensing," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 15(4), pages 1579-1618, October.
    5. Georgios Christou & Panagiotis Chronis, 2017. "Markups and fiscal policy: analytical framework and an empirical investigation," Working Papers 221, Bank of Greece.

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