Efficiency and Equilibrium with Dynamic Increasing Aggregate Returns due to Demand Complementarities
研究差异化中间投入品生产中的动态非凸性如何传导至总量层面，发现这取决于投入品间的希克斯-艾伦互补程度，并比较了存在总量动态非凸性时的动态均衡与最优配置。
When do dynamic nonconvexities at the disaggregate level translate into dynamic nonconvexities at the aggregate level? We address this question in a framework where the production of differentiated intermediate inputs is subject to dynamic nonconvexities, and we show that the answer depends on the degree of Hicks-Allen complementarity Žsub-stitutability. between differentiated inputs. In our simplest model, a generalization of Judd Ž 1985. and Grossman and Helpman Ž 1991. among many others, there are dynamic nonconvexities at the aggregate level if and only if differentiated inputs are Hicks-Allen complements. We also compare dynamic equilibrium and optimal allocations in the presence of aggregate dynamic nonconvexities due to Hicks-Allen complementarities between differentiated inputs.