文章基本信息

标题：Non-smooth Dynamics and Multiple Equilibria in a Cournot-Ramsey Model with Endogenous Markups
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作者：Brito, Paulo,Costa ; Luís F.,Dixon, Huw
期刊名称：Cardiff Economics Working Papers / Cardiff University, Cardiff Business School
印刷版ISSN：1749-6101
出版年度：2008
卷号：2008
出版社：Cardiff University
摘要：We develop a simple Ramsey model with numerous Cournotian industries where entry generates an endogenous markup. The model produces two different regimes: a monopoly and an oligopoly one. We provide a rigorous study of non-smooth dynamics and we also analyse the global dynamics of the model, demonstrating the model exhibits robust heteroclinic orbits, either of the smooth or the non-smooth type. Similar economies may be in any of these regimes and they may change regime along its convergence path. Fixed costs and elasticities of demand, play a crucial role and changing their values may alter the dynamics in a radical way, either by inducing a discontinuous transition or a discontinuous hysteresis.
关键词：endogenous mark-ups ; non-smooth dynamics ; discontinuous induced bifurcations ; heteroclinic orbits ;