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

  • Neary, J Peter

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 C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 7231.

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Date of creation: Mar 2009
Handle: RePEc:cpr:ceprdp:7231
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