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Globalisation and market structure
Neary, J. Peter
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.
Keyword(s): 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:
Type: Working paper
Peer-Reviewed: Unknown
Language(s): English
Institution: University College Dublin
Publisher(s): University College Dublin. School of Economics; University College Dublin. Institute for the Study of Social Change (Geary Institute)
File Format(s): other; application/pdf
First Indexed: 2012-08-25 05:22:48 Last Updated: 2018-10-11 15:44:42