Investissement stratégique et fluctuations endogènes

Claude D'Aspremont; Rodolphe dos Santos  Ferreira; Louis André Gérard-Varet

doi:10.3917/reco.662.0351

Investissement stratégique et fluctuations endogènes

Translated title of the contribution: Strategic investment and endogenous fluctuations

Claude D'Aspremont^*, Rodolphe dos Santos Ferreira, Louis André Gérard-Varet

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

3 Citations (Scopus)

Abstract

We study an overlapping generations multisectoral economy, where firms in each sector live two periods, strategically investing in the first and producing under Cournot competition in the second period. Equilibrium conditions for the two-stage games, and on the product, labor and capital markets, determine the number of active firms and result in a two-equation dynamic system. The possibility of robust endogenous fluctuations coming from strategic investment is demonstrated by contrast with a model without strategic investment and with free entry.

Translated title of the contribution	Strategic investment and endogenous fluctuations
Original language	French
Pages (from-to)	351-368
Number of pages	18
Journal	Revue Economique
Volume	66
Issue number	2
DOIs	https://doi.org/10.3917/reco.662.0351
Publication status	Published - 2015

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Investissement stratégique et fluctuations endogènes

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