The pure theory of international economics operates within a
methodological framework of (static) equilibrium modelling. This sets
a number of restrictions to its capability to explain empirical
economic phenomena. A huge part of the scientific discourse takes
place within this equilibrium framework. This is also true for new
approaches like e.g. the New Economic Geography and models operating
with market structures of oligopoly. This is why it is a courageous
effort to try to cross the apparently unalterable borders set by
equilibrium modelling. Most certainly this cannot be an end in itself.
Especially the pure theory of international economics is still in many
fields lacking adequate possibilities to deal with phenomena in space
and time. These two dimensions have in common that they make the
introduction of specific facets of movement, change, evolution - and
therefore "mobility" - possible. Besides this "dynamic" component a
point of view that includes space and time challenges us to find new
possibilities to model heterogeneous agents. If these ideas are not so
revolutionary in their content, the attempt to introduce them into a
formal model is a big challenge. Moreover, it poses the question about
the role of a theory of "international" economics in such a wider
framework.
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Challenges to the Theory of International Economics
Produktdetaljer
ISBN
9783642576089
Publisert
2020
Utgiver
Springer Nature
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter