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The paper shows that in a spatial price equilibrium under monopolisitc competition welfare can be increased by subsidising transport.
Persistent link: https://www.econbiz.de/10005852129
The aim of this paper is to compare empirically the effects of transport cost reductions due to infrastructure investments, emerging under different market structures. To this end, a computable spatial general equilibrium model with costly interregional trade is presented, which is calibrated...
Persistent link: https://www.econbiz.de/10005852131