In 2008, Paul Krugman received The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for his analysis of trade patterns and location of economic activity. Find out here about previous Prizes relevant to his work.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1977
Bertil Ohlin and James E. Meade
“for their pathbreaking contribution to the theory of international trade and international capital movements”
Ohlin is recognised as the founder of the modern theory of international trade, while Meade demonstrated the effects of economic policy on foreign trade theory.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1999
Robert A. Mundell
“for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas”
Mundell’s analyses of international macroeconomics demonstrated, amongst other things, the importance of the exchange rate regime and that barriers to migration and capital movements stimulate commodity trade.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1970
Paul A. Samuelson
“for the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science”
Samuelson’s basic theoretical research showed under what conditions international trade results in an equalization of the factor rewards between countries engaged in international trade.
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The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1980
Lawrence R. Klein
“for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies”
Klein helped set up a large research project to understand business fluctuations between different countries and to make forecasts of international trade and capital movements.
The Nobel Peace Prize 1945
By creating the United Nations, Cordell Hull sought to stabilize international relations through commercial policies.
First published 13 October 2008.