- 著者
- BEHRENS Kristian KANEMOTO Yoshitsugu MURATA Yasusada
- 出版者
- GRIPS Policy Research Center
- 雑誌
- GRIPS Discussion Papers
- 巻号頁・発行日
- vol.16-26, 2016-12
Extant studies take it for granted that there is a one-to-one mapping from a change in the equilib- rium allocation to a change in welfare. We show that such a premise does not apply to fairly standard mod- els of monopolistic competition. For any change in the equilibrium allocation, there exist an infinite number of possible welfare changes when the mass of varieties consumed differs between the two equilibria. Our re- sults thus reveal a fundamental difficulty in measuring welfare changes when varieties are endogenous.
- 著者
- Murata Yasusada Nakajima Ryo Okamoto Ryosuke Tamura Ryuichi
- 出版者
- Institute of Economic Research, Kyoto University
- 雑誌
- KIER Discussion Paper
- 巻号頁・発行日
- vol.763, 2011-03
We develop a new approach to localized knowledge spillovers by incorporating the concept of control patents (Jaffe, Trajtenberg and Henderson 1993) into the distancebased test of localization (Duranton and Overman, 2005). Using microgeographic data, we identify localization distance while allowing for cross-boundary spillovers, unlike the existing literature where the extent of localized knowledge spillovers is detected at the state or metropolitan statistical area level. We revisit the recent debate by Thompson and Fox-Kean (2005) and Henderson, Jaffe and Trajtenberg (2005) on the existence of localized knowledge spillovers, and find solid evidence supporting localization, even when finer controls are used.