Economic theories of systems of cities explain why production and consumption activities are concentrated in a number of urban areas of different sizes and industrial composition rather than uniformly distributed in space. These theories have been successively influenced by four paradigms: i)...

This chapter provides a survey of recent developments of positive as well as normative theories of city systems. Static theory of city system emphasizes the factors that result in the formation of cities through the interaction between two opposing forces: i) agglomeration economy; ii)...

What are the impacts of free trade agreement on the social welfare of different groups of labor force in a developed country? What is the impact of free trade on a developed country’s income disparity? What is the effect of free trade on the skill distribution of a developed country? The...

This paper develops a North-South trade model in which the South produces food and the North produces both food and a high-tech good. Food production is undertaken by unskilled workers while the high-tech product is made only by horizontally dierentiated skilled workers. Due to the possibility...

This paper develops a North-South trade model in which the South produces food and the North produces both food and a high-tech good. Food production is undertaken by unskilled workers while the high-tech product is made only by horizontally differentiated skilled workers. Due to the possibility...

In this paper we develop a North-South trade model in which the South produces food and the North produces both food and a high-tech good. Food production is undertaken by unskilled workers, while the high-tech product is made only by horizontally differentiated skilled workers. Owing to the...

In this paper I analyze the impact of basic training and specialized training on the distribution of skill, income disparity, social welfare, and on the structure of a decentralized specialized city system. This is done in a spatial general-equilibrium model of a closed economy producing a...

What are the impacts of free trade agreement on the welfare of different types of workers in a developed country? What is the impact of free trade on a developed country's income disparity? What is the effect of free trade on the skill distribution of a developed country? The objective of this...

This study provides evidence of a direct relationship between inside spreads and insider trading activity that is stronger when there are fewer market makers or more concentrated market maker market share. No evidence is found of a relationship between quote size at the inside and insider...

We introduce increasing returns to scale into an otherwise standard New Keynesian model with capital, and study the determinacy and E-stability of Taylor-type interest rate rules. With very mild increasing returns supported by empirical research, the conventional wisdom regarding the design of...