Market Structure, Distribution and Growth

Authors

  • Jorge Marshall Programa de Postgrado en Economía ILADES / Georgetown University image/svg+xml

Keywords:

market structure, income distribution, economic growth, neo-Keynesian model, degree of monopoly, oligopoly

Abstract

This paper analyzes the relationship between market structure, income distribution and economic growth in a neo-Keynesian growth model. The microeconomic determination of prices is distinguished from the macroeconomic determination of the rate of return on capital. Two conclusions which depend on this distinction are, first, that an increase in the degree of monopoly (expansion of the oligopolyzed sector) may reduce the rate of growth and reduce the rate of return on capital in the competitive sector, and second, that there may be a significant dispute on income distribution between oligopoly and competitive firms, rather than between wages and capital.

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References

Amadeo, E. J. (1986). Notes on growth, distribution and capacity utilization (Texto para Discussão N.º 116). Pontifícia Universidade Católica do Rio de Janeiro.

Cowling, K. (1981). Oligopoly, distribution and the rate of profit. European Economic Review, 15(2), 195–224. https://doi.org/10.1016/0014-2921(81)90087-8

Dutt, A. K. (1984). Stagnation, income distribution and monopoly power. Cambridge Journal of Economics, 8(1), 25–40.

Kalecki, M. (1971). Selected essays on the dynamics of the capitalist economy. Cambridge University Press.

Leff, N. (1978). Industrial organization and entrepreneurship in the developing countries: The economic groups. Economic Development and Cultural Change, 26(4), 661–675. https://doi.org/10.1086/451052

Marglin, S. (1984). Growth, distribution and prices. Harvard University Press.

Marshall, J. (1985). Incertidumbre en un modelo neokeynesiano de crecimiento [Ponencia]. Encuentro Anual de Economistas, Chile.

Marshall, J. (1986). Technical innovation in heterogeneous economies (Documentos de Trabajo N.º 13). Departamento de Economía, Universidad de Santiago de Chile.

Sanfuentes, A. (1984). Los grupos económicos: Control y políticas. Colección Estudios CIEPLAN, (15).

Taylor, L. (1983). Structuralist macroeconomics. Basic Books.

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Published

1987-10-31

How to Cite

Marshall, J. (1987). Market Structure, Distribution and Growth. Economic Analysis Review, 2(2), 27–38. Retrieved from https://www.rae-ear.org/index.php/rae/article/view/300

Issue

Vol. 2 No. 2 (1987)

Section

Articles

License

Copyright (c) 1987 Jorge Marshall

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

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