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Optimal Agglomerations in Dynamic Economics

  • William A. Brock

    (Department of Economics, University of Wisconsin, USA)

  • Anastasios Xepapadeas

    (Department of International and European Economic Studies, Greece)

  • Athanasios N. Yannacopoulos

    (Department of Statistics Athens University of Economics and Business, Greece)

We study rational expectations equilibrium problems and social optimum problems in infinite horizon spatial economies in the con- text of a Ramsey type capital accumulation problem with geographical spillovers. We identify sufficient local and global conditions for the emergence (or not) of optimal agglomeration, using techniques from monotone operator theory and spectral theory in infinite dimensional Hilbert spaces. Our analytical methods can be used to systematically study optimal potential agglomeration and clustering in dynamic economics.

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Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2012.64.

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Date of creation: Sep 2012
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Handle: RePEc:fem:femwpa:2012.64
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  1. Nocco, Antonella, 2005. "The rise and fall of regional inequalities with technological differences and knowledge spillovers," Regional Science and Urban Economics, Elsevier, vol. 35(5), pages 542-569, September.
  2. Raouf Boucekkine & C. Camacho & B. Zou, 2007. "Bridging the gap between growth theory and the new economic geography: The spatial Ramsey model," Working Papers 2007_27, Business School - Economics, University of Glasgow.
  3. Raouf BOUCEKKINE & Carmen CAMACHO & Giorgio FABBRI, 2010. "Spatial dynamics and convergence: the spatial AK model," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2010009, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
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  6. Camacho, Carmen & Zou, Benteng & Briani, Maya, 2011. "On the dynamics of capital accumulation across space," Center for Mathematical Economics Working Papers 376, Center for Mathematical Economics, Bielefeld University.
  7. Danny Quah, 2002. "Spatial agglomeration dynamics," LSE Research Online Documents on Economics 2042, London School of Economics and Political Science, LSE Library.
  8. Robert E. Lucas & Jr., 1967. "Adjustment Costs and the Theory of Supply," Journal of Political Economy, University of Chicago Press, vol. 75, pages 321.
  9. Robert E. Lucas, Jr., 1999. "Externalities and Cities," Annual Meeting Plenary 1999-3, Society for Economic Dynamics.
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  12. Paulo Brito, 2012. "Global Endogenous Growth and Distributional Dynamics," DEGIT Conference Papers c017_053, DEGIT, Dynamics, Economic Growth, and International Trade.
  13. Danny Quah, 2002. "Spatial Agglomeration Dynamics," CEP Discussion Papers dp0521, Centre for Economic Performance, LSE.
  14. Chincarini, Ludwig & Asherie, Neer, 2008. "An analytical model for the formation of economic clusters," Regional Science and Urban Economics, Elsevier, vol. 38(3), pages 252-270, May.
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  16. José Alexandre Scheinkman, 1978. "Stability of Separable Hamiltonians and Investment Theory," Review of Economic Studies, Oxford University Press, vol. 45(3), pages 559-570.
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  18. Carmen, CAMACHO & Benteng, ZOU, 2003. "The Spatial Solow Model," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2003017, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
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