New Economic Geography: What about the N?

10.1068/a3730 ◽  
2005 ◽  
Vol 37 (10) ◽  
pp. 1707-1725 ◽  
Author(s):  
Gianmarco I P Ottaviano ◽  
Jacques-François Thisse
Keyword(s):  
Economic Theory ◽  
General Equilibrium ◽  
Policy Analysis ◽  
Economic Geography ◽  
Equilibrium Model ◽  
Location Theory ◽  
General Equilibrium Model ◽  
New Economic Geography ◽  
Mainstream Economic ◽  
Long Time

Since its very appearance, probably thanks to its provocative name, new economic geography (NEG) has stirred a debate on whether it is economic geography proper or rather geographical economics. In both cases, its real novelty has been questioned. We focus on this last issue. In particular, we argue that many NEG ideas have been around for a long time in the works of economic geographers and location theorists. However, NEG has the fundamental merit of having framed those ideas within a general equilibrium model encompassing most of these ideas. This has drawn economic geography and location theory from the periphery to the center of mainstream economic theory. More importantly, it has made already existing ideas more amenable to empirical scrutiny and policy analysis.

General Equilibrium Theory of Value

2011 ◽  
Author(s):  
Yves Balasko
Keyword(s):  
Economic Theory ◽  
General Equilibrium ◽  
Equilibrium Model ◽  
Supply And Demand ◽  
General Equilibrium Model ◽  
Standard Theory ◽  
Equilibrium Solutions ◽  
General Equilibrium Theory ◽  
Multiple Markets ◽  
Theory Of Value

The concept of general equilibrium, one of the central components of economic theory, explains the behavior of supply, demand, and prices by showing that supply and demand exist in balance through pricing mechanisms. The mathematical tools and properties for this theory have developed over time to accommodate and incorporate developments in economic theory, from multiple markets and economic agents to theories of production. This book offers an extensive, up-to-date look at the standard theory of general equilibrium, to which the author has been a major contributor. This book explains how the equilibrium manifold approach can be usefully applied to the general equilibrium model, from basic consumer theory and exchange economies to models with private ownership of production. The book examines properties of the standard general equilibrium model that are beyond traditional existence and optimality. It applies the theory of smooth manifolds and mappings to the multiplicity of equilibrium solutions and related discontinuities of market prices. The economic concepts and differential topology methods presented in this book are accessible, clear, and relevant, and no prior knowledge of economic theory is necessary. The book offers a comprehensive foundation for the most current models of economic theory and is ideally suited for graduate economics students, advanced undergraduates in mathematics, and researchers in the field.

scholarly journals Über Geld und Geldtheorien

2001 ◽  
Vol 31 (123) ◽  
pp. 227-243
Author(s):  
Victoria Chick
Keyword(s):  
Economic Theory ◽  
General Equilibrium ◽  
Equilibrium Model ◽  
General Equilibrium Model ◽  
Monetary Theory ◽  
Historical Time ◽  
Social Relevance ◽  
Circular Flow ◽  
Flow Theories

Different ways of studying monetary theory are discussed. Chick compares the roles and functions, money acquires in the neoclassical general equilibrium model, in Keynesian as well as in circular flow theories. She argues in favour of an economic theory, which is open to historical time and the evolution of institutions. Otherwise economic theory will be depleted of social relevance.

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