MARC Record from Library of Congress

LEADER: 02175cam a22003257a 4500
001 2005615698
003 DLC
005 20050202100649.0
007 cr |||||||||||
008 050113s2004 mau sb 000 0 eng
010 $a 2005615698
040 $aDLC$cDLC
043 $ae------
050 00 $aHB1
100 1 $aBayoumi, Tamim A.
245 10 $aBenefits and spillovers of greater competition in Europe$h[electronic resource] :$ba macroeconomic assesment /$cTamin Bayoumi, Douglas Laxton, Paolo Pesenti.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2004.
490 1 $aNBER working paper series ;$vworking paper 10416
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 1/13/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and labor markets, this paper estimates the macroeconomic benefits and international spillovers of an increase in competition. After calibrating the model to the euro area vs. the rest of the industrial world, the paper draws three conclusions. First, greater competition produces large effects on macroeconomic performance, as measured by standard indicators. In particular, we show that differences in competition can account for over half of the current gap in GDP per capita between the euro area and the US. Second, it may improve macroeconomic management by increasing the responsiveness of wages and prices to market conditions. Third, greater competition can generate positive spillovers to the rest of the world through its impact on the terms of trade"--National Bureau of Economic Research web site.
650 0 $aCompetition$zEuropean Union countries.
700 1 $aLaxton, Douglas.
700 1 $aPesenti, Paolo.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 10416.
856 40 $uhttp://papers.nber.org/papers/W10416