垄断竞争下均衡与最优差距的量化研究*

IF 11.1 1区 经济学 Q1 ECONOMICS Quarterly Journal of Economics Pub Date : 2020-11-01 DOI:10.1093/QJE/QJAA017
K. Behrens, Giordano Mion, Yasusada Murata, Jens Suedekum
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引用次数: 17

摘要

在不完全竞争市场中,均衡和最优通常是不同的。虽然这在理论上得到了很好的理解,但目前尚不清楚福利扭曲在整体经济中有多大。它们在数量上重要吗?为了回答这个问题,我们建立了一个包含内生企业进入和选择、生产率和加价的多部门垄断竞争模型。利用法国和英国的数据,我们量化了均衡分配和最优分配之间的差距。在我们首选的规范中,部门之间劳动力配置和进入的低效率,以及部门内每个企业的低效率选择和产出,产生的福利损失约占GDP的6-10%。
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Quantifying the Gap Between Equilibrium and Optimum under Monopolistic Competition*
Equilibria and optima generally differ in imperfectly competitive markets. While this is well understood theoretically, it is unclear how large the welfare distortions are in the aggregate economy. Do they matter quantitatively? To answer this question, we develop a multi-sector monopolistic competition model with endogenous firm entry and selection, productivity, and markups. Using French and British data, we quantify the gap between the equilibrium and optimal allocations. In our preferred specification, inefficiencies in the labor allocation and entry between sectors, as well as inefficient selection and output per firm within sectors, generate welfare losses of about 6–10% of GDP.
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来源期刊
CiteScore
24.20
自引率
2.20%
发文量
42
期刊介绍: The Quarterly Journal of Economics stands as the oldest professional journal of economics in the English language. Published under the editorial guidance of Harvard University's Department of Economics, it comprehensively covers all aspects of the field. Esteemed by professional and academic economists as well as students worldwide, QJE holds unparalleled value in the economic discourse.
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