Paul Krugman
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Born |
February 28, 1953 (age 59) Albany, New York |
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Nationality |
United States |
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Institution |
Princeton University, London School of Economics |
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Field |
International economics, Macroeconomics |
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Alma mater |
MIT (PhD) Yale University (BA) |
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Opposed |
Freshwater economics[1][2] |
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Influences |
John Maynard Keynes[3] John Hicks[3][4][5] Paul Samuelson |
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Contributions |
International Trade Theory New Trade Theory New Economic Geography |
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Awards |
John Bates Clark Medal (1991) Príncipe de Asturias Prize (2004) Nobel Memorial Prize in Economics (2008) |
Paul Robin Krugman (born February 28, 1953 (age 59) Albany, New York) is an American economist, Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times.[7][8] In 2008, Krugman won the Sveriges Riksbank Prize in Economic Sciences /
As of 2008, Krugman has written 20 books and has published over 200 scholarly articles in professional journals and edited volumes.[13] He has also written more than 750 columns dealing with current economic and political issues for The New York Times.
Krugman considers himself a liberal, calling one of his books and his New York Times blog "The Conscience of a Liberal".[14] His commentary has attracted considerable comment and criticism.[15][16][17][18][19]
Personal life/ Krugman is the son of David and Anita Krugman and the grandson of Jewish immigrants from Brest-Litovsk.[20] He was born in Albany, NY/
Krugman's first wife was award-winning designer/artist Robin L. Bergman. He is currently married to Robin Wells, his second wife, an academic economist who has collaborated on textbooks with Krugman.
Krugman giving a lecture at the German National Library in Frankfurt in 2008.
From 1982 to 1983, he spent a year working at the Reagan White House as a staff member of the Council of Economic Advisers. He taught at Yale University, MIT, UC Berkeley, the London School of Economics, and Stanford University before joining Princeton University in 2000 as professor of economics and international affairs. He has been a research associate at the National Bureau of Economic Research since 1979.[31] Most recently, Krugman was President of the Eastern Economic Association.
The Research Papers in Economics project ranked him as the 14th most influential economist in the world as of March 2011 based on his academic contributions.
The Nobel Prize Committee stated that Krugman's main contribution is his analysis of the impact of economies of scale/
In 1978, Krugman wrote The Theory of Interstellar Trade/
New trade theory
Prior to Krugman's work, trade theory (see David Ricardo and Hecksher-Ohlin model) emphasized trade based on the comparative advantage of countries with very different characteristics, such as a country with a high agricultural productivity trading agricultural products for industrial products from a country with a high industrial productivity. Many models of international trade now follow Krugman's lead, incorporating economies of scale in production and a preference for diversity in consumption.[9] This way of modeling trade has come to be called New Trade Theory.[34]
Krugman's theory also took into account transportation costs, a key feature in producing the "home market effect"/
New economic geography
It took an interval of eleven years, but ultimately Krugman's work on New Trade Theory (NTT) converged to what is usually called the "new economic geography" (NEG), which Krugman began to develop in a seminal 1991 paper in the Journal of Political Economy.
Sveriges Riksbank Prize in Economic Sciences
Krugman was awarded the Sveriges Riksbank Prize in Economic Sciences (informally the Nobel Prize in Economics), the sole recipient for 2008. This prize includes an award of about $1.4 million and was given to Krugman for his work associated with New Trade Theory and the New Economic Geography. Awards
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1992, Fellow of the American Academy of Arts and Sciences (AAAS).[31]
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1995, Adam Smith Award of the National Association for Business Economics[83]
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in Germany.
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2004, Doctor of Humane Letters honoris causa, Haverford College[86]
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2008, Sveriges Riksbank Prize in Economic Sciences (informally the Nobel Prize in Economics) for Krugman's contributions to New Trade Theory.[87] He became the twelfth John Bates Clark Medal winner to be awarded the Nobel Memorial Prize.
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2012, Doctor honoris causa from the Universidade de Lisboa, Universidade Técnica de Lisboa and Universidade Nova de Lisboa[88][89]