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

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  • J. Peter Neary
Abstract
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‐market effects and the possibility of agglomeration in models of economic geography; and the positive and normative consequences of oligopolistic trade.

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  • J. Peter Neary, 2009. "Putting the “New” into New Trade Theory: Paul Krugman's Nobel Memorial Prize in Economics," Scandinavian Journal of Economics, Wiley Blackwell, vol. 111(2), pages 217-250, June.
    • Handle: RePEc:bla:scandj:v:111:y:2009:i:2:p:217-250
    DOI: 10.1111/j.1467-9442.2009.01562.x
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    3. Bertoletti, Paolo & Epifani, Paolo, 2014. "Monopolistic competition: CES redux?," Journal of International Economics, Elsevier, vol. 93(2), pages 227-238.
    4. Dermot Leahy & J. Peter Neary, 2013. "Oligopoly and Trade," Palgrave Macmillan Books, in: Daniel Bernhofen & Rod Falvey & David Greenaway & Udo Kreickemeier (ed.), Palgrave Handbook of International Trade, chapter 7, pages 197-235, Palgrave Macmillan.
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    7. Toru Kikuchi & Ngo van Long, 2010. "A decomposition of the home-market effect," Economics Bulletin, AccessEcon, vol. 30(4), pages 2759-2768.
    8. Roberto Basile & Aleksandra Parteka & Rosanna Pittiglio, 2018. "Export diversification and economic development: A dynamic spatial data analysis," Review of International Economics, Wiley Blackwell, vol. 26(3), pages 634-650, August.
    9. Hubert Escaith & Fabien Gonguet, 2011. "International Trade and Real Transmission Channels of Financial Shocks in Global Production Networks: An Asian–USA Perspective," Chapters, in: Satoshi Inomata (ed.), Asia Beyond the Global Economic Crisis, chapter 3, Edward Elgar Publishing.
    10. Roseline Misati & Kethi Ngoka, 2021. "Constraints on the performance and competitiveness of Tanzania's manufacturing exports," WIDER Working Paper Series wp-2021-35, World Institute for Development Economic Research (UNU-WIDER).
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    12. Curzi, Daniele & Pacca, Lucia, 2014. "Estimating Food Quality from Trade Data: An Empirical Assessment," 2014 Third Congress, June 25-27, 2014, Alghero, Italy 173106, Italian Association of Agricultural and Applied Economics (AIEAA).
    13. Escaith, Hubert & Gonguet, Fabien, 2009. "International Trade and Real Transmission Channels of Financial Shocks in Globalized Production Networks," MPRA Paper 15558, University Library of Munich, Germany.
    14. By Albert G. Schweinberger & Jens Suedekum, 2015. "De-industrialization and entrepreneurship under monopolistic competition," Oxford Economic Papers, Oxford University Press, vol. 67(4), pages 1174-1185.
    15. Toru Kikuchi, 2010. "The Dixit-Stiglitz-Krugman Trade Model: A Geometric Note," Discussion Papers 1006, Graduate School of Economics, Kobe University.
    16. David KUCERA & Leanne RONCOLATO, 2011. "Trade liberalization, employment and inequality in India and South Africa," International Labour Review, International Labour Organization, vol. 150(1-2), pages 1-41, June.
    17. Colacicco, Rudy, 2012. "The "Average" Within-Sector Firm Heterogeneity in General Oligopolistic Equilibrium," MPRA Paper 40212, University Library of Munich, Germany.
    18. Marshall B. Reinsdorf, 2010. "Terms Of Trade Effects: Theory And Measurement," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(s1), pages 177-205, June.
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    20. Curzi, Daniele & Pacca, Lucia, 2015. "Price, quality and trade costs in the food sector," Food Policy, Elsevier, vol. 55(C), pages 147-158.
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    22. Achterbosch, Thom J. & Engler, Alejandra & Rau, Marie-Luise & Toledo, Roger, 2009. "Measure the measure: the impact of differences in pesticide MRLs on Chilean fruit exports to the EU," 2009 Conference, August 16-22, 2009, Beijing, China 51765, International Association of Agricultural Economists.

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    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation

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