Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/89610
Authors: 
Brock, William
Xepapadeas, Anastasios
Yannacopoulos, Athanasios
Year of Publication: 
2013
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 68.2013
Abstract: 
We introduce knowledge spillovers as an externality in the production function of competitive firms operating in a finite spatial domain under adjustment costs. Spillovers are spatial as productive knowledge flows more easily among firms located nearby. When knowledge spillovers are not internalized by firms spatial agglomerations may emerge endogenously in a competitive equilibrium, however, they do not emerge at the steady state of the social optimum.
Subjects: 
Investment Theory
Adjustment Costs
Spatial Agglomerations
JEL: 
D21
R3
C61
Document Type: 
Working Paper

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