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Globalisation and market structure |
Neary, J. Peter
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This paper reviews some puzzling economic aspects of globalisation and argues that
they cannot be satisfactorily addressed in perfectly or monopolistically competitive models. Drawing on recent work, a model of oligopoly in general equilibrium is sketched. The model ensures theoretical consistency by assuming that firms are large in their own markets but small in the economy as a whole, and ensures tractability by assuming quadratic preferences defined over a continuum of goods. Applications considered include the effects of trade
liberalisation on industrial structure, on cross-border merger waves, and on the distribution of income between skilled and unskilled workers.
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Keyword(s):
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Cross-border mergers; GOLE (General Oligopolistic Equilibrium); Market integration; Trade and wages; Trade liberalisation; D50; L13; F12; Globalization; Equilibrium (Economics); Oligopolies; Competition, Imperfect |
Publication Date:
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2009 |
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Type:
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Working paper |
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Peer-Reviewed:
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Unknown |
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Language(s):
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English |
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Institution:
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University College Dublin |
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Publisher(s):
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University College Dublin. School of Economics; University College Dublin. Institute for the Study of Social Change (Geary Institute) |
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File Format(s):
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other; application/pdf |
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First Indexed:
2012-08-25 05:22:48 Last Updated:
2018-10-11 15:44:42 |
