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| Author: | Neary, J.P. |
| Title: | Putting the "new" into new trade theory: Paul Krugman's Nobel Memorial Prize in Economics |
| Journal: | Scandinavian Journal of Economics
2009 : VOL. 111:2, p. 217-250 |
| Index terms: | competition economic geography imperfect competition international trade monopoly product differentiation |
| Language: | eng |
| Abstract: | The scientific contributions of Paul Krugman to the study of international trade are reviewed, on the occasion of his receipt of the 2008 Nobel Memorial Prize in Economics. Some of his principal findings are presented in a simplified exposition, including 1) the effects if trade on firm scale and product diversity in a general model on monopolistic competition; 2) the integration of monopolistic competition with factor endowments theory; 3) the implications of transport costs, including home-market effects and the possibility of agglomeration in models of economic geography and 4) the positive and normative consequences of oligopolistic trade. |
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