Showing 1 - 9 of 9
We consider a pure exchange economy, where for each good several trading institutions are available, only one of which is market-clearing. The other feasible trading institutions lead to rationing. To learn on which trading institutions to coordinate, traders follow behavioural rules of thumb...
Persistent link: https://www.econbiz.de/10005666746
We study competitive market outcomes in economies where agents have other-regarding preferences. We identify a separability condition on monotone preferences that is necessary and sufficient for one's own demand to be independent of the allocations and characteristics of other agents in the...
Persistent link: https://www.econbiz.de/10005114265
We study the impact of falling trade costs and falling national transport costs on the economic geography of countries involved in an integration process. Two regions between which labour is mobile form each country, but there is no international factor mobility. Commodities can be traded both...
Persistent link: https://www.econbiz.de/10005667127
deregulation of the transport sector leads to more inefficient agglomeration. This latter change may, quite surprisingly, increase …
Persistent link: https://www.econbiz.de/10005791947
We distill the main insights from recent trade models on firms' responses to globalisation. Our primary aim is to assess the economic impact and the welfare implications of the resulting reallocation of resources across firms and countries. In so doing, we bring theory into life through the...
Persistent link: https://www.econbiz.de/10005136703
We extend the model by Krugman (1980) to a multi-country set-up and show that the ‘home-market effect’ highlighted with two countries does not readily extend to such a general setting. In particular, we prove that the most important result, namely the disproportionate causation from demand...
Persistent link: https://www.econbiz.de/10005114440
agglomeration economies. This paper provides a microeconomically founded model of vertical city differentiation in which the latter … two mechanisms (`agglomeration' and `selection') operate simultaneously. Our model is both rich and tractable enough to …
Persistent link: https://www.econbiz.de/10005792517
into large cities, because large cities select more productive entrepreneurs and firms, or because of agglomeration … between them. The model can replicate stylised facts about sorting, agglomeration, and selection in cities. It can also …
Persistent link: https://www.econbiz.de/10008554236
This chapter surveys recent developments in agglomeration theory within a unifying framework. We highlight how … locational fundamentals, agglomeration economies, the spatial sorting of heterogeneous agents, and selection effects affect the …
Persistent link: https://www.econbiz.de/10011084057