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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

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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Bibliographic Info

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: 01 Mar 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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Cited by:
  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.

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