Macroeconomics and Regional Economics: New Relationships
Until recently, macroeconomists, in their efforts to explain and predict levels of employment and output and related indicators for the national economy, operated on the assumption that the geographic distribution of economic activity within the national borders is irrelevant to their theories and calculations. Regional economists, on the other hand, have felt compelled to cast their analyses of the economic performance of particular places in a framework in which national totals were predetermined. But recent developments in the real word and in the world of economic research have modified the one-way dependency of Regional Economics on Macroeconomics in favor of a mutual dependency. Now the question of where is no longer ignored in economics.
Volume (Year): 21 (1995)
Issue (Month): 2 (Spring)
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