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articles: Multiple equilibria, stability, and asymmetries in Krugman's core-periphery model

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Author Info

  • Luis Fernando Lanaspa

    ()
    (Faculty of Economics and Business Studies, University of Zaragoza, Doctor Cerrada 3, 50005 Zaragoza, Spain)

  • Fernando Sanz

    ()
    (Faculty of Economics and Business Studies, University of Zaragoza, Doctor Cerrada 3, 50005 Zaragoza, Spain)

Abstract

Paul Krugman developed a general equilibrium model with two sectors and two regions in 1991, from which two patterns of industrial localization could be endogenously deduced, dispersion at 50% and total concentration. The introduction of transport costs, which depend on the size of the population, are meant to capture effects produced by the trade-off between congestion costs and advantages derived from the possession of infrastructure, thus generates stable asymmetric multiple equilibria. The outcome of asymmetric stable multiple equilibria demonstrates the fruitfulness of this extension of the original model.

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Bibliographic Info

Article provided by Springer in its journal Papers in Regional Science.

Volume (Year): 80 (2001)
Issue (Month): 4 ()
Pages: 425-438

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Handle: RePEc:spr:presci:v:80:y:2001:i:4:p:425-438

Note: Received: 23 June 1998
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Related research

Keywords: Industrial concentration; infrastructures; stable asymmetries;

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Cited by:
  1. Ugo FRATESI, 2005. "Regional Policy from a Supra-Regional Perspective," Working Papers 245, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.

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