A Comment on: “ General Equilibrium Oligopoly and Ownership Structure” by José Azar and Xavier Vives

Econometrica ◽  
2021 ◽  
Vol 89 (3) ◽  
pp. 1055-1059
Author(s):  
Thomas Philippon
Keyword(s):  
General Equilibrium ◽  
Ownership Structure

scholarly journals Note on Democracy and Competition: The Role of Ownership Structure in a General Equilibrium Model with Vertical Preferences

2021 ◽  
Vol Vol. 132 (2) ◽  
pp. 249-261
Author(s):  
Hend Ghazzai ◽  
Wided Hemissi ◽  
Rim Lahmandi-Ayed ◽  
Sana Mami Kefi
Keyword(s):  
General Equilibrium ◽  
Ownership Structure ◽  
Equilibrium Model ◽  
General Equilibrium Model

scholarly journals General Equilibrium Oligopoly and Ownership Structure

2019 ◽  
Author(s):  
José Azar ◽  
Xavier Vives
Keyword(s):  
General Equilibrium ◽  
Ownership Structure

A Comment on: “ General Equilibrium Oligopoly and Ownership Structure” by José Azar and Xavier Vives

Econometrica ◽  
2021 ◽  
Vol 89 (3) ◽  
pp. 1049-1053
Author(s):  
Jan Eeckhout
Keyword(s):  
General Equilibrium ◽  
Ownership Structure

Reply to: Comments on “ General Equilibrium Oligopoly and Ownership Structure”

Econometrica ◽  
2021 ◽  
Vol 89 (3) ◽  
pp. 1061-1063
Author(s):  
José Azar ◽  
Xavier Vives
Keyword(s):  
General Equilibrium ◽  
Ownership Structure

scholarly journals General Equilibrium Oligopoly and Ownership Structure

Econometrica ◽  
2021 ◽  
Vol 89 (3) ◽  
pp. 999-1048
Author(s):  
José Azar ◽  
Xavier Vives
Keyword(s):  
General Equilibrium ◽  
Ownership Structure ◽  
Returns To Scale ◽  
Weighted Average ◽  
Elasticity Of Substitution ◽  
Real Wages ◽  
Ownership Structures ◽  
Pecuniary Externality ◽  
Common Ownership ◽  
Constant Returns To Scale

We develop a tractable general equilibrium framework in which firms are large and have market power with respect to both products and labor, and in which a firm's decisions are affected by its ownership structure. We characterize the Cournot–Walras equilibrium of an economy where each firm maximizes a share‐weighted average of shareholder utilities—rendering the equilibrium independent of price normalization. In a one‐sector economy, if returns to scale are non‐increasing, then an increase in “effective” market concentration (which accounts for common ownership) leads to declines in employment, real wages, and the labor share. Yet when there are multiple sectors, due to an intersectoral pecuniary externality, an increase in common ownership could stimulate the economy when the elasticity of labor supply is high relative to the elasticity of substitution in product markets. We characterize for which ownership structures the monopolistically competitive limit or an oligopolistic one is attained as the number of sectors in the economy increases. When firms have heterogeneous constant returns to scale technologies, we find that an increase in common ownership leads to markets that are more concentrated.

General Equilibrium Theory

1997 ◽  
Author(s):  
Ross M. Starr
Keyword(s):  
General Equilibrium ◽  
Equilibrium Theory ◽  
General Equilibrium Theory

What Did The Study of The Soviet Economy Contribute to Mainstream Economics?

2010 ◽  
pp. 39-55
Author(s):  
M. Ellman
Keyword(s):  
Economic Growth ◽  
Property Rights ◽  
General Equilibrium ◽  
Informal Sector ◽  
Institutional Economics ◽  
Soviet Economy ◽  
General Equilibrium Theory ◽  
Mainstream Economics ◽  
Universal Applicability ◽  
Soviet Experience

This article is an overview of the contribution made by economic Sovietology to mainstream economics. The long debate about the universal applicability of mainstream economics is reconsidered in the light of the Soviet experience. Information is provided on the contribution of the study of the Soviet economy to fields as diverse as the measurement of economic growth, institutional economics, economic administration, the economics of property rights, the economics of the informal sector, the economics of famines, the Austrian critique of general equilibrium theory, and incentives.

Some Developments in Economic Theory Since 1940: An Eyewitness Account

2010 ◽  
pp. 4-23 ◽  
Author(s):  
K. Arrow
Keyword(s):  
Economic Theory ◽  
General Equilibrium ◽  
Equilibrium Theory ◽  
General Equilibrium Theory ◽  
Economics Of Information ◽  
Modern Economic ◽  
Eyewitness Account ◽  
Theory Uncertainty ◽  
Professional Formation

The article considers the evolution of some branches of modern economic theory from the perspective of the authors biography as a scientist and his professional formation. It describes problems of econometrics, general equilibrium theory, uncertainty, economics of information, and growth. It is shown how different authors representing various fields came to similar conclusions simultaneously and independently, what were the problems, in response to which economists of the second half of last century developed their theories, and what were the contexts of such development.

THE INFLUENCE OF CORPORATE GOVERNANCE, OWNERSHIP STRUCTURE ON COMPANY VALUE WITH COMPANY SIZE AS MODERATION VARIABEL

2018 ◽  
Vol 2 (2) ◽  
Author(s):  
Ilham Rahim ◽  
Mediaty Mediaty ◽  
R. A. Damayanti Damayanti
Keyword(s):  
Corporate Governance ◽  
Ownership Structure ◽  
Company Size ◽  
Company Value
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