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Step-by-step Migrations

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  • Thomas J. Holmes

    (Univeristy of Minnesota)

Abstract

This paper considers a dynamic model of industry location in which there is a tension between two forces. First, there is the agglomerating force of preference of intermediate input variety that tends to keep an industry at its original location. Second, other factors tend to pull the industry in the direction of a new location. In the equilibrium of the model, migration always takes place in the direction of lower costs. The socially efficient migration path can be decentralized as an equilibrium. If the rate of cost reduction is small, the converse that an equilibrium is efficient is also true. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1016/S1094-2025(03)00033-4
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Bibliographic Info

Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 7 (2004)
Issue (Month): 1 (January)
Pages: 52-68

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Handle: RePEc:red:issued:v:7:y:2004:i:1:p:52-68

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Related research

Keywords: Step-by-step; Migration; Intermediate input variety;

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References

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  1. Thomas J. Holmes, 1998. "The Effect of State Policies on the Location of Manufacturing: Evidence from State Borders," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 106(4), pages 667-705, August.
  2. Thomas J Holmes, 2002. "The Role of Cities: Evidence From the Placement of Sales Offices," Working Papers, Center for Economic Studies, U.S. Census Bureau 02-02, Center for Economic Studies, U.S. Census Bureau.
  3. Holmes, Thomas J., 1999. "How Industries Migrate When Agglomeration Economies Are Important," Journal of Urban Economics, Elsevier, vol. 45(2), pages 240-263, March.
  4. Krugman, Paul, 1991. "History versus Expectations," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 106(2), pages 651-67, May.
  5. Holmes, Thomas J. & Stevens, John J., 2004. "Spatial distribution of economic activities in North America," Handbook of Regional and Urban Economics, Elsevier, in: J. V. Henderson & J. F. Thisse (ed.), Handbook of Regional and Urban Economics, edition 1, volume 4, chapter 63, pages 2797-2843 Elsevier.
  6. Masahisa Fujita & Paul Krugman & Anthony J. Venables, 2001. "The Spatial Economy: Cities, Regions, and International Trade," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 0262561476, December.
  7. Robert E. Lucas & Esteban Rossi-Hansberg, 2002. "On the Internal Structure of Cities," Econometrica, Econometric Society, Econometric Society, vol. 70(4), pages 1445-1476, July.
  8. Robert E. Lucas, Jr., 2001. "Externalities and Cities," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(2), pages 245-274, April.
  9. Adsera, Alicia & Ray, Debraj, 1998. " History and Coordination Failure," Journal of Economic Growth, Springer, Springer, vol. 3(3), pages 267-76, September.
  10. Kiminori Matsuyama, 1990. "Increasing Returns, Industrialization and Indeterminacy of Equilibrium," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 878, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  11. Parente Stephen L., 1994. "Technology Adoption, Learning-by-Doing, and Economic Growth," Journal of Economic Theory, Elsevier, Elsevier, vol. 63(2), pages 346-369, August.
  12. Esteban Rossi-Hansberg, 2004. "Optimal Urban Land Use and Zoning," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(1), pages 69-106, January.
  13. Chari, V V & Hopenhayn, Hugo, 1991. "Vintage Human Capital, Growth, and the Diffusion of New Technology," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 99(6), pages 1142-65, December.
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Cited by:
  1. Desmet, Klaus & Rossi-Hansberg, Esteban, 2007. "Spatial Growth and Industry Age," CEPR Discussion Papers, C.E.P.R. Discussion Papers 6421, C.E.P.R. Discussion Papers.
  2. Thomas Holmes, 2004. "EconomicDynamics Interviews Thomas Holmes on Dynamic Economic Geography," EconomicDynamics Newsletter, Review of Economic Dynamics, Review of Economic Dynamics, vol. 6(1), November.

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