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Qualitative and quantitative analysis of equilibrium and optimal allocations in general equilibrium models of monopolistic competition with industry and firm heterogeneity

Research Project

Project/Area Number 26380326
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Research Field Economic policy
Research InstitutionNihon University

Principal Investigator

MURATA Yasusada  日本大学, 総合科学研究所, 教授 (40336508)

Research Collaborator BEHRENS Kristian  
MION Giordano  
SUEDEKUM Jens  
Project Period (FY) 2014-04-01 – 2018-03-31
Project Status Completed (Fiscal Year 2017)
Budget Amount *help
¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2015: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2014: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Keywords産業の異質性 / 企業の異質性 / 独占的競争 / 一般均衡 / 最適配分 / 市場の歪み / 過剰参入 / 厚生損失 / 所得効果 / 競争促進効果 / 企業淘汰効果 / 部門間の歪み / 部門内の歪み
Outline of Final Research Achievements

We build a general equilibrium model of monopolistic competition with industry and firm heterogeneity, and analyze qualitatively and quantitatively the gap between equilibrium and optimal allocations. We characterize inter- and intra-industry distortions by the elasticity of utility, the relative risk aversion, and the shape of productivity distribution. We further quantify the model using the UK and French employment and revenue data at the firm level and input-output data at the industry level, and find that inefficiencies in the labor allocation and firm entry between sectors, as well as inefficient firm selection and output within sectors, generate welfare losses of about 6-10% of GDP.

Academic Significance and Societal Importance of the Research Achievements

本研究は,Dixit and Stiglitz (1977)以降,40年以上にわたり定性的に研究されてきた独占的競争の一般均衡モデルの市場均衡と最適配分の乖離を,多くの国で利用可能なデータを用いて定量化する手法を開発した点において学術的・社会的に意義があると思われる。

Report

(5 results)
  • 2017 Annual Research Report   Final Research Report ( PDF )
  • 2016 Research-status Report
  • 2015 Research-status Report
  • 2014 Research-status Report

Research Products

(13 results)

All 2017 2016 2014 Other

All Int'l Joint Research (9 results) Presentation (4 results) (of which Int'l Joint Research: 3 results)

  • [Int'l Joint Research] University of Quebec at Montreal(Canada)

    • Related Report
      2017 Annual Research Report
  • [Int'l Joint Research] Heinriche-Heine-Universitat Dusseldorf(Germany)

    • Related Report
      2017 Annual Research Report
  • [Int'l Joint Research] University of Sussex(英国)

    • Related Report
      2017 Annual Research Report
  • [Int'l Joint Research] University of Quebec at Montreal(カナダ)

    • Related Report
      2016 Research-status Report
  • [Int'l Joint Research] University of Duesseldorf(ドイツ)

    • Related Report
      2016 Research-status Report
  • [Int'l Joint Research] University of Sussex(英国)

    • Related Report
      2016 Research-status Report
  • [Int'l Joint Research] University of Quebec at Montreal(Canada)

    • Related Report
      2015 Research-status Report
  • [Int'l Joint Research] University of Sussex(United Kingdom)

    • Related Report
      2015 Research-status Report
  • [Int'l Joint Research] Heinrich-Heine-Universitat Dusseldorf(Germany)

    • Related Report
      2015 Research-status Report
  • [Presentation] Distorted monopolistic competition2017

    • Author(s)
      Yasusada Murata
    • Organizer
      Dynamics, Economic Growth and International Trade (DEGIT XXII)
    • Related Report
      2017 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Distorted monopolistic competition2016

    • Author(s)
      Yasusada Murata
    • Organizer
      11th Meeting of the Urban Economics Association
    • Place of Presentation
      Minneapolis, United States
    • Year and Date
      2016-11-10
    • Related Report
      2016 Research-status Report
    • Int'l Joint Research
  • [Presentation] Distorted monopolistic competition2016

    • Author(s)
      Yasusada Murata
    • Organizer
      6th European Meeting of the Urban Economics Association
    • Place of Presentation
      Vienna, Austria
    • Year and Date
      2016-08-24
    • Related Report
      2016 Research-status Report
    • Int'l Joint Research
  • [Presentation] Distorted monopolistic competition2014

    • Author(s)
      Yasusada Murata
    • Organizer
      Society for the Advancement of Economic Theory
    • Place of Presentation
      Waseda University
    • Year and Date
      2014-08-20
    • Related Report
      2014 Research-status Report

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Published: 2014-04-04   Modified: 2022-06-16  

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