A note on book covers: while we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.
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Imperfect Competition, Differential Information, and Microfoundations of Macroeconomics
Using a macroeconomic model, Nishimura links a microeconomic model of imperfectly informed firms in monopolistic competition to a general theory of wage and price setting. His analysis is based on profit maximization and rational behavior, in line with the New Keynesian approach in its emphasis on the microeconomic foundations of macroeconomics. It shows that increased competition may increase nominal as well as real price rigidity and increased volatility of investment.
A note on book covers: while we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.
Explores micro-level causes of macroeconomic fluctuations.
Who is this book for?
If you're interested in understanding how individual firm behavior influences broader economic trends, this book offers a detailed look through the lens of microeconomics. Nishimura’s work is especially relevant if you enjoy models that connect firm decision-making to macroeconomic stability and volatility, providing valuable insights for students and professionals eager to see the microfoundations behind macro theories.
