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Putting the "New" into New Trade Theory: Paul Krugman's Nobel Memorial Prize in Economics

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Peter Neary

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Abstract

This paper reviews the scientific contributions of Paul Krugman to the study of international trade, on the occasion of his receipt of the 2008 Nobel Memorial Prize in Economics. A simplified exposition is presented of some of his principal findings, including: the effects of trade on firm scale and product diversity in a general model of monopolistic competition; the integration of monopolistic competition with factor endowments theory; the implications of transport costs, including home-market effects and the possibility of agglomeration in models of economic geography; and the positive and normative consequences of oligopolistic trade.

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Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 423.

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Date of creation: 2009
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Handle: RePEc:oxf:wpaper:423

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Keywords: Economic geography; Imperfect competition; Intra-industry trade; Monopolistic competition; Oligopoly and trade; Product differentiation;

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F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Escaith, Hubert & Gonguet, Fabien, 2009. "International Trade and Real Transmission Channels of Financial Shocks in Globalized Production Networks," MPRA Paper 15558, University Library of Munich, Germany. [Downloadable!]
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