Discussion Paper
Modelling complementarity in monopolistic competition
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.
Keywords: Competition; Monopolies;
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Bibliographic Information
Provider: Federal Reserve Bank of Minneapolis
Part of Series: Discussion Paper / Institute for Empirical Macroeconomics
Publication Date: 1993
Number: 81