NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Imperfect Competition and the Keynesian Cross

N. Gregory Mankiw

NBER Working Paper No. 2386 (Also Reprint No. r1118)
Issued in September 1987
NBER Program(s):   EFG

This paper presents a simple general equilibrium model in which the only non-Walrasian feature is imperfect competition in the goods market. The model is shown to exhibit various Keynesian characteristics. In particular, as competition in the goods market becomes less perfect, the fiscal policy multipliers approach the values implied by the textbook Keynesian cross.

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Document Object Identifier (DOI): 10.3386/w2386

Published: Economics Letters, Vol. 26, no. 1 (1988): 7-13. citation courtesy of

 
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