Trade, FDI and Congestion: The Small and Very Open Economy |
Common terms and phrases
asset prices assume benefits from FDI capital income capital rental capitalized into higher Celtic Tiger central banks CEPR collective action clauses comparative statics demand for land Dixit/Norman Dublin area economy's GNP electronics capital equations exogenous expenditure function expression in square ƏLE factor inflows FDI-industry food capital food industry foreign direct investment Geneva Reports Hence higher land rents immigrant households immigrant's impact income effect income gains incumbent immigrants indigenous households inelastic inflow of capital infrastructure Ireland Island's economy KK-locus labor and capital land market equilibrium land rent increase land supply locus long run migration MM-locus mobile capital moral hazard net wage no-labor-migration-condition open city open economy open small economy outflow Policy public input public investment r₁ redistribution return to capital revenue function rising land rents short run square brackets Stability Assumption subscription trade University College Dublin urban economics value marginal product wage rate World Economy www.cepr.org