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Agglomeration and Endogenous Capital / Richard E. Baldwin.
- Format:
- Book
- Author/Creator:
- Baldwin, Richard E.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w6459.
- NBER working paper series no. w6459
- Language:
- English
- Subjects (All):
- Commercial geography--Mathematical models.
- Commercial geography.
- Industrial concentration--Mathematical models.
- Industrial concentration.
- Regional economic disparities--Mathematical models.
- Regional economic disparities.
- Economic geography.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1998.
- Cambridge, MA : National Bureau of Economic Research, 1998.
- Summary:
- The new' economic geography focuses on the footloose-labor and the vertically-linked-industries models. Both are complex since they feature demand-linked and cost-linked agglomeration forces. I present a simpler model where agglomeration stems from demand-linked forces arising from endogenous capital with forward-looking agents. The model's simplicity permits many analytic results (rare in economic geography). Trade-cost levels that trigger catastrophic agglomeration are identified analytically, liberalization between almost equal-sized nations is shown to entail near-catastrophic' agglomeration, and Krugman's informal stability test is shown to be equivalent to formal tests in a fully specified dynamic model.
- Notes:
- Print version record
- March 1998.
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