要旨：This paper empirically examines whether the geographical proximity of transaction partners improves the firms' profits by using the actual microdata on inter-firm transactions. I model the formation of transaction partners between newly entering firms and existing firms as a two-sided many-to-many matching game with transferable utility and estimate the structural parameters of the model. In the results, I find that the average distance to the transaction partners negatively affects the firms' structural revenues. This strongly suggests that the existence of agglomeration economies results from the inter-firm transactions that occur between geographically close firms. Furthermore, this effect is larger for entrant firms than existing firms.

要旨：When price distortions exist, the cost-benefit analysis must include changes in the deadweight loss in addition to the direct benefits and costs to transport users and non-users. Recent advances in the new economic geography (NEG) have highlighted the importance of price distortions due to imperfect competition. This article reviews recent contributions on the cost-benefit analysis in NEG models, and explores which elements of the models have contributed to different results that have been obtained.