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- W3047761623 abstract "The purpose of this study is to explain business cycles by developing a neoclassical growth model with perfect and monopolistic competition. The study generalizes the model by Zhang (2019) by making all the constant coefficients to be time dependent. The model determines income and wealth distribution on the basis of Walrasian general equilibrium theory, neoclassical growth theory, and Dixit-Stiglitz monopolistic competitive theory. The paper makes a unique contribution to the literature of economic growth with perfect and monopolistic competition by showing existence of business cycles due to exogenous shocks in the model with the economic mechanisms in the three main models of economic theory. The study shows how different shocks cause business cycles as argued by real business theory in macroeconomics." @default.
- W3047761623 created "2020-08-13" @default.
- W3047761623 creator A5081821132 @default.
- W3047761623 date "2020-08-31" @default.
- W3047761623 modified "2023-09-25" @default.
- W3047761623 title "Business Cycles in a Dynamic General Equilibrium Model with Monopolistic and Perfect Competition" @default.
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- W3047761623 doi "https://doi.org/10.33399/biibfad.644677" @default.
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