New Economic Geography: An Appraisal on the Occasion of Paul Krugman's 2008 Nobel Prize in Economics

30 Pages Posted: 18 Dec 2008

See all articles by Masahisa Fujita

Masahisa Fujita

Kyoto University - Institute of Economic Research

Jacques-François Thisse

Catholic University of Louvain (UCL); Centre for Economic Policy Research (CEPR)

Date Written: December 2008

Abstract

Paul Krugman has clarified the microeconomic underpinnings of both spatial economic agglomerations and regional imbalances at national and international levels. He has achieved this with a series of remarkably original papers and books that succeed in combining imperfect competition, increasing returns, and transportation costs in new and powerful ways. Yet, not everything was brand new in New Economic Geography. To be precise, several disparate pieces of high-quality work were available in urban economics and location theory. Our purpose in this paper is to shed new light on economic geography through the lenses of these two fields of economics and regional science.

Keywords: Economic geography, Location theory, Trade, Urban economics

JEL Classification: F12, L13, R12

Suggested Citation

Fujita, Masahisa and Thisse, Jacques-François, New Economic Geography: An Appraisal on the Occasion of Paul Krugman's 2008 Nobel Prize in Economics (December 2008). CEPR Discussion Paper No. DP7063. Available at SSRN: https://ssrn.com/abstract=1311187

Masahisa Fujita

Kyoto University - Institute of Economic Research ( email )

Yoshida-Honmachi
Sakyo-ku
Kyoto 606-8501
Japan
+81 75 753 7122 (Phone)
+81 75 753 7198 (Fax)

Jacques-François Thisse (Contact Author)

Catholic University of Louvain (UCL) ( email )

Place des Doyens 1
Louvain-la-Neuve, 1348
Belgium

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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