Investissement stratégique et fluctuations endogènes = Strategic investment and endogenous fluctuations

d'Aspremont-Lynden, Claude;Dos Santos Ferreira, Rodolphe;Gérard-Varet, Louis-André
(2015) Revue économique / Ecole des hautes études en sciences sociales —

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Authors
  • d'Aspremont-Lynden, ClaudeUCLouvain
    Author
  • Dos Santos Ferreira, RodolpheBETA, Université de Strasbourg
    Author
  • Gérard-Varet, Louis-AndréGREQAM, Ecole des Hautes Etudes en Sciences Sociales, Marseille
    Author
Abstract
(en) 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.
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d’Aspremont-Lynden, C., Dos Santos Ferreira, R., & Gérard-Varet, L.-A. (2015). Investissement stratégique et fluctuations endogènes = Strategic investment and endogenous fluctuations. Revue économique / Ecole des hautes études en sciences sociales. https://hdl.handle.net/2078.5/190137