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New trade theory and "new" new trade theory (NNTT) need their own trade theory. New trade theories are often based on assumptions such as monopolistic competition and increasing returns to scale. One of the typical explanations, given by Paul Krugman, depends on the assumption that all firms are symmetrical, meaning that they all have the same ...
In 2008, Krugman was the sole winner of the Nobel Memorial Prize in Economic Sciences for his contributions to new trade theory and new economic geography. [8] The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of ...
The home market effect implies a link between market size and exports that is not accounted for in trade models based solely on comparative advantage. [2] The home market effect was first proposed by Corden [3] and was developed by Paul Krugman in a 1980 article. [4] Krugman sought to provide an alternative to the Linder hypothesis. Based on ...
The most comprehensive and widely accepted explanation, at least within economic theory, is that of Paul Krugman's New Trade Theory. Krugman argues that economies specialise to take advantage of increasing returns, not following differences in regional endowments (as contended by neoclassical theory).
The announcement of the 2008 Nobel Memorial Prize in Economic Sciences in Stockholm. The winner of the prize was Paul Krugman.. The Nobel Memorial Prize in Economic Sciences, officially known as The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (Swedish: Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an award funded by Sveriges Riksbank and ...
Insider spoke with Krugman on Wednesday to get his take on how the US recovery's progressing. Here is a lightly edited transcript of the conversation.
Ballooning U.S. debt has stirred growing alarm on Wall Street, but economist Paul Krugman isn't worried and said you shouldn't be either. In a New York Times op-ed on Thursday, the Nobel laureate ...
The Theory of Interstellar Trade [1] is a paper on hypothetical space trade written in 1978 by the economist Paul Krugman. The paper was first published in March 2010 in the journal Economic Inquiry. [2] He described the paper as something he wrote to cheer himself up when he was an "oppressed assistant professor" caught up in the academic rat ...