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The Core-Periphery Model: Existence And Uniqueness Of Short-Run Equilibrium

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  • Pascal Mossay

    (Universidad de Alicante)

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    Abstract

    We consider the core-periphery model by Krugman (1991). The nature and stability of the possible steady states of the model have been made progressively precise, see Fujita et al. (1999) and Baldwin et al. (2003). In that model as well as in all the new economic geography models that have been derived from it, the short-run (instantaneous) equilibrium is implicitly determined by the current labor distribution across regions. The numerical computations used so far to determine the short-run equilibrium, tend to suggest its existence. In this work, an existence and uniqueness proof of short-run equilibrium is provided.

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    File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-2005-37.pdf
    File Function: Fisrt version / Primera version, 2005
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    Bibliographic Info

    Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 2005-37.

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    Length: 14 pages
    Date of creation: Dec 2005
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    Publication status: Published by Ivie
    Handle: RePEc:ivi:wpasad:2005-37

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    Related research

    Keywords: core-periphery; economic geography; fixed point F12; R12; R23; C62;

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    1. Ottaviano, Gianmarco Ireo Paolo & Puga, Diego, 1997. "Agglomeration in the Global Economy: A Survey of the 'New Economic Geography'," CEPR Discussion Papers 1699, C.E.P.R. Discussion Papers.
    2. Fujita,Masahisa & Thisse,Jacques-François, 2013. "Economics of Agglomeration," Cambridge Books, Cambridge University Press, number 9781107001411, October.
    3. Paul Krugman, 1990. "Increasing Returns and Economic Geography," NBER Working Papers 3275, National Bureau of Economic Research, Inc.
    4. Masahisa Fujita & Paul Krugman & Anthony J. Venables, 2001. "The Spatial Economy: Cities, Regions, and International Trade," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262561476, December.
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