Recent research and policy discussions have noted that the potentially increased competition among firms since the 1990 … Calvo price-setting assumptions imply the same reduced-form New Keynesian Phillips Curve (NKPC). Increased competition among … concerns about potential loss of market share. These effects are further dampened in an environment of more intense competition …

economic growth and social welfare. The model combines a detailed oligopolistic competition model featuring endogenous entry … macroeconomic aggregates, and it replicates the observed hump-shaped relationship between innovation and competition within and …