Market Behaviour and Macroeconomic Modelling

Preface Notes on the Contributors PART I: IMPERFECT COMPETITION (A) The Multiplier in an Economy with Monopolistic Output: Markets and Competitive Labour Markets; Marta Aloi, Huw Dixon and Phillip Lawler Imperfect Competition and Aggregate Price Equations; Ate Nieuwenhuis PART II: IMPERFECT COMPETITION (B) A Critical Assessment of the Role of Imperfect Competition in Macroeconomics; Dennis W. Carlton An International Comparative Analysis of the State of Competition; Robert C.G. Haffner and Peter A.G. van Bergeijk PART III: FINANCIAL MARKET IMPERFECTIONS The Importance of Credit for Macroeconomic Activity: Identification Through Heterogeneity; Simon Gilchrist and Egon Zakrajsek Investment and Debt Constraints: Evidence from Dutch Panel Data; Hans van Ees, Harry Garretsen, Leo de Haan and Elmer Sterken PART IV: LABOUR MARKET IMPERFECTIONS Sticky Consumption and Rigid Wages; Tore Ellingsen and Steinar Holden Structural Aspects of the Labour Markets of Five OECD Countries; Geert Ridder, Niels De Visser and Gerard Van den Berg PART V: SHORT-RUN RIGIDITIES Short-Run Rigidities and Long-Run Equilibrium in Large-Scale Macroeconometric Models; Keith B. Church, Peter R. Mitchell and Kenneth F. Wallis High and Low Skilled Labour in a Macroeconometric Model of the Netherlands; D.P. Broer, D.A.G. Draper, A. Houweling, F.H. Huizinga and P.A. De Jongh PART VI: INTERTEMPORAL MODELLING Uses and Limitations of Public Debt; Willem H. Buiter and Kenneth M. Kletzer Capital Income Taxation and the Sustainability of Permanent Primary Deficits; Harald Uhlig PART VIII: POLICY IMPLICATIONS Policy Implications of Endogenous Growth Models; Jarig van Sinderen and Theo J.A. Roelandt Modelling Government Investment and Economic Growth on a Macro Level: A Review; Jan-Egbert Sturm, Gerard H. Kuper and Jacob de Haan Index