Working Paper


J. Peter Neary



dixit stiglitz preferences dependency econometric models economic geography r10 f12 industrial organization economic theory pecuniary externalities agglomeration increasing returns to scale

Of hype and hyperbolas : introducing the new economic geography (2000)

Abstract I take the publication of The Spatial Economy by Fujita, Krugman and Venables asan opportunity to expound and assess the "new economic geography". I use a simple diagram to show how the basic model works; give a self-contained algebraic derivation of the main results; note some interesting extensions; comment on some weaknesses of the model, which make it less suitable than might at first appear for discussing issues of industrial structure;try to place the field in relation to "old" economic geography and to the theory ofinternational trade; and discuss its empirical and policy implications.
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J. Peter Neary

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J. Peter Neary
University College Dublin
Total Publications: 79