مقاله انگلیسی رایگان در مورد اثرات بازار خانگی با هزینه درونی تولید ( الزویر )

 

مشخصات مقاله
عنوان مقاله  Home market effects with endogenous costs of production
ترجمه عنوان مقاله  اثرات بازار خانگی با هزینه های درونی تولید
فرمت مقاله  PDF
نوع مقاله  ISI
سال انتشار  مقاله سال 2013
تعداد صفحات مقاله  12 صفحه
رشته های مرتبط  اقتصاد
گرایش های مرتبط  اقتصاد پولی و اقتصاد مالی
مجله  مجله اقتصاد شهری – Journal of Urban Economics
دانشگاه Norwegian School of Economics (NHH), Norway
کلمات کلیدی  اثرات بازار داخلی، یکپارچگی، سرمایه گذاری تحقیق و توسعه، شرکت های نامتقارن اندوژن، تعادل مکانی
کد محصول  E5113
نشریه  نشریه الزویر
لینک مقاله در سایت مرجع  لینک این مقاله در سایت الزویر (ساینس دایرکت) Sciencedirect – Elsevier
وضعیت ترجمه مقاله  ترجمه آماده این مقاله موجود نمیباشد. میتوانید از طریق دکمه پایین سفارش دهید.
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1. Introduction

In 2008, Paul Krugman won the Nobel Memorial Prize in Economics for his contributions to the ‘‘new’’ trade theory and to the ‘‘new’’ economic geography (Krugman, 1980, 1991). Central to both of these theories are the so-called ‘‘home market effects’’ (HMEs). In a two-region economy, the HMEs predict that the larger region in terms of demand, in comparison to the smaller region: (i) attracts a disproportionately higher share of firms in the increasing returns sector (IRS) in relation to the share of demand it hosts (HME in the number of firms); (ii) uses disproportionately more factors of production in the IRS in relation to the share of demand it hosts (HME in employment); and (iii) runs trade surplus in the IRS (HME in trade patterns).

A central assumption in Krugman (1980) is that the costs of production are exogenous.1 We check the robustness of Krugman (1980) HMEs when the costs of production are endogenous. Costs of production are endogenized via process R&D investment that reduces marginal costs but increases fixed costs. In this set-up, we show that when the return on R&D is high, the larger region, relatively to the smaller region, does not disproportionately employs more labor nor attracts a disproportionately larger share of firms in the IRS in relation to share of demand it hosts (negative HMEs in the number of firms and in employment), but even so it always runs a trade surplus in the IRS (HME in trade patterns). In other words, while we continue to have a HME in trade patterns, we find negative HMEs in the number of firms and in employment, given that an increase in the market size of the larger region triggers a less than proportional increase in the number of local firms and factor employment.

Our paper then contributes to the theoretical and the empirical literature on HMEs. We contribute to the theoretical literature on HMEs, since we check the robustness of one of the assumptions in Krugman (1980): exogenous costs of production. Standard imperfect competition models (Krugman, 1980; Brander, 1981 and Ottaviano et al., 2002) assume exogenous costs of production for analytical convenience. However, as we all know, the empirical evidence demonstrates that the costs of production are endogenous (Gustavsson et al., 1999; Aw et al., 2008; Glaeser et al., 2010). But further than just adding more realism totrade-geography models, our results point out that the assumption of exogenous costs of production is not innocuous.

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