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In this first chapter, we present the two benchmark models that we will use throughout the book in their simplest versions. First, we present the model for the determination of employment and income by companies and workers in a market setting, comparing the market outcomes obtained with unfettered competition and with various distortions, including market power by companies, price rigidity, and taxation. Then, we present the model for the determination of the saving behavior through the accumulation of a durable commodity that represents physical capital.

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Basic Macroeconomic Model

  • 章节

  • 发表日期：

    2025年

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  • Leo Ferraris

摘要

In this first chapter, we present the two benchmark models that we will use throughout the book in their simplest versions. First, we present the model for the determination of employment and income by companies and workers in a market setting, comparing the market outcomes obtained with unfettered competition and with various distortions, including market power by companies, price rigidity, and taxation. Then, we present the model for the determination of the saving behavior through the accumulation of a durable commodity that represents physical capital.