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

@article{Neary2009PuttingT,
  title={Putting the 'New' into New Trade Theory: Paul Krugman's Nobel Memorial Prize in Economics},
  author={J. Peter Neary},
  journal={International Trade eJournal},
  year={2009}
}
  • J. Neary
  • Published 1 March 2009
  • Economics
  • International Trade eJournal
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… 
View on SSRN
ora.ox.ac.uk
55 Citations
Highly Influential Citations
8
Background Citations
21
Methods Citations
1

55 Citations

From New Trade Theory to New Economic Geography: A Space Odyssey
This paper examines the evolution of New Economic Geography (NEG) as a sequel to New Trade Theory. The focus is on the contributions and methodological self-reflections of Paul Krugman, who started…
On the concept of 'competitiveness' and its usefulness for policy
Oligopoly and Trade
In this chapter we present a selective analytic survey of some of the main results of trade under oligopoly. We concentrate on three topics: oligopoly as an independent determinant of trade, as…
DISCUSSION PAPER SERIES OLIGOPOLY AND TRADE
In this chapter we present a selective analytic survey of some of the main results of trade under oligopoly. We concentrate on three topics: oligopoly as an independent determinant of trade, as…
Entrepreneurship and conflict generating product price changes
The 'Average' Within-Sector Firm Heterogeneity in General Oligopolistic Equilibrium
This paper builds a general oligopolistic equilibrium model to investigate how within-sector firm heterogeneities affect wage rate, country-wide profits, and welfare. Using linear inverse demands, I…
Monopolistic competition: CES redux?
Export Diversification, International Trade, and Economic Growth: A Survey of the Literature
Since the very beginning of the 1990s, Colombian policy-makers introduced a new approach towards the national economic development: As stated by Ocampo and Villar (1992), the so-called “Modernization…
Consumer Behavior , Monopolistic Competition , and International Trade : CES Redux ? ∗
We argue that monopolistic competition models featuring pro-competitive effects, such as the model in Krugman (1979) or models assuming linear demand systems, build on dubious assumptions about…
Together at Last: Trade Costs, Demand Structure, and Welfare
We show that relaxing the assumption of CES preferences in monopolistic competition has surprising implications when trade is restricted. Integrated and segmented markets behave very differently, the…
...
...

References

SHOWING 1-10 OF 90 REFERENCES
Monopolistic competition and international trade theory
Almost twenty-five years after the appearance of Dixit and Stiglitz’s paper on monopolistic competition and optimum product diversity, I try to take stock of the progres which has been made in…
Industrial Organization and International Trade
This paper reviews recent work on the relationship between industrialorganization and international trade. Five strands in the theoreticalliterature are discussed. First is the role of economies of…
Theory of International Trade. A Dual, General Equilibrium Approach
This book expounds trade theory emphasizing that a trading equilibrium is general rather than partial, and is often best modelled using dual or envelope functions. This yields a compact treatment of…
Complementarities and Cumulative Processes in Models of Monopolistic Competition
Monopolistic competition models have frequently been applied in macroeconomics, growth and development, and international and interregional economics. The three features of monopolistic competition,…
A Model of Innovation, Technology Transfer, and the World Distribution of Income
  • P. Krugman
  • Economics
    Journal of Political Economy
  • 1979
This paper develops a simple general-equilibrium model of product cycle trade. There are two countries, innovating North and noninnovating South. Innovation consists of the development of new…
Scale Economies, Product Differentiation, and the Pattern of Trade
For some time now there has been considerable skepticism about the ability of comparative cost theory to explain the actual pattern of international trade. Neither the extensive trade among the…
Imperfect competition and international trade
The last decade has seen an important extension of the theory of international trade to include imperfectly competitive market structures. This book collects 19 of the most influential articles on…
The narrow moving band, the Dutch disease, and the competitive consequences of Mrs. Thatcher : Notes on trade in the presence of dynamic scale economies
Product Diversity, Economies of Scale, and International Trade
The paper develops new testable implications for monopolistic competition in the open economy. Within a two-sector model we explore how international trade affects plant size, the degree of product…
Advanced international trade : theory and evidence
Trade is a cornerstone concept in economics worldwide. This updated second edition of the essential graduate textbook in international trade brings readers to the forefront of knowledge in the field…
...
...