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Rising trade costs?: agglomeration and trade with endogenous transaction costs

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While transport costs have fallen, the empirical evidence also points at rising total trade costs. In a model of industry location with endogenous transaction costs, we show how and under which conditions a decline in transport costs can lead to an increase in the total cost of trade.

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en

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application/pdf

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http://eprints.lse.ac.uk/19898/1/Rising_Trade_Costs_Agglomeration_and_Trade_with_Endogenous_Transaction_Costs.pdf

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