The Efficiency of Investment in the Presence of Aggregate Demand Spillovers
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In the presence of aggregate demand spillovers, an imperfectly competitive firm's profit is positively related to aggregate income, which in turn rises with profits of all firms in the economy. This pecuniary externality makes a dollar of a firm's profit raise aggregate income by more than a dollar,
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美国国家经济研究局创建时间：
1987-06-01
