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Discussion Paper Details

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Title: New Economic Geography: an appraisal on the occasion of Paul Krugman's 2008 Nobel Prize in Economics

Author(s): Masahisa Fujita and Jacques-François Thisse

Publication Date: December 2008

Keyword(s): Economic geography, Location theory, Trade and Urban economics

Programme Area(s): International Trade and Regional Economics

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.

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Bibliographic Reference

Fujita, M and Thisse, J. 2008. 'New Economic Geography: an appraisal on the occasion of Paul Krugman's 2008 Nobel Prize in Economics'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=7063