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The question explored in this paper is whether the center attracts more spending by all agents in a spatial economy than do peripheral locations, and why this might be so. This is the macroeconomics pendant to the microeconomic concern with accessibility.
The purpose of this paper is to trace back and comment on five postulates of Christaller's central place theory: the homogeneity of geographical space, economic rationality of agents, existence of scale economies, existence of agglomeration economies, and interdependence between goods. The...
In this paper, first we present an interregional macroeconomic model of Japanese economy. Then, using the model, we examine how macro-stabilization policies affect regional income disparities. We show that according to our model, the regional income disparity becomes smaller both in the case of...
This paper contends that classical spaceless price theory is excessively limited. In contrast, the spatial model provides a robustly general framework such that it even sheds light on the beta statistic in portfolio theory and the capital asset pricing model (CAPM), which led to 1990 Nobels for...
We review the argument that incorporating space in economic models has two important consequences: first, the hypothesis of perfect competition becomes untenable, and second, the distinction between private and public goods becomes blurred. We summarize recent work pointing to alternative...
This paper explores the impact of multipurpose and multistop shopping behavior on spatial competition among retail firms. The problem deals with a duopoly situation on a line segment. It is shown analytically that a unique location-price Nash equilibrium exists. In equilibrium, the locational...
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