Krugman, Paul(1953-)

This article discusses the main economic contributions of Paul Krugman. Krugman developed the new trade theory, which analyses the determinants of international trade when trade takes place among oligopolistic firms, and the new economic geography, which studies where firms locate nationally and worldwide. His also drew out the policy implications of these new theories. Finally, the article discusses Krugman's early work on exchange rate regimes and his more recent work on economic slumps.