Increasing Returns and Economic Analysis

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Kenneth J. Arrow, Yew-Kwang Ng, Xiaokai Yang
Palgrave Macmillan, Mar 15, 1998 - Business & Economics - 457 pages
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Selected papers from many leading Australian, American, Asian, British and European economists of an international conference at Monash University sparked by the first Australian visit by Kenneth J. Arrow, Nobel Laureate in Economics. Part 1 extends the recently emerged New Classical Economics which uses inframarginal analysis to formally examine classical economic problems of specialization with insights on trade, growth, and many other issues. Part 2 analyses the implications of increasing returns and the associated non-perfect competition on some macro problems like the effects of nominal aggregate demand on output and the price level. Part 3 analyses the relationships of information, returns to scale, and issues of resources and trade.

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About the author (1998)

Kenneth J. Arrow is Professor Emeritus of Economics at Stanford University.
Enrico Colombatto is Associate Professor of Economics at the University of Turin.
Mark Perlman is Professor Emeritus of Economics at the University of Pittsburgh.
Christian Schmidt is Professor of Economics at the University of Paris-Dauphine.

YEW-KWANG NG holds a personal chair at Monash University, Australia. LOK SANG HO is Professor of Economics at Lingnan University, Hong Kong.

Xiaokai Yang is Professor in the Department of Economics at Monash University and an affiliated Fellow in the Center for International Development, Harvard University. His research papers have appeared in "The American Economic Review, Journal of Political Economy," and other refereed journals. He is the author of eight books, and is co-author, with Jeffrey Sachs, of "Development Economics" (Blackwell, 2001).

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