May 19 2019

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Recent microeconomics news articles

The Official Paul Krugman Web Page

News!! I am starting up my Princeton web site. It is at

It’s only partial, but eventually all files will move.

I’m back! My recent move to New Jersey and other pressures have temporarily prevented me from updating this site. I will now begin occasional postings, although fewer than before I began writing for the NY Times. You can still read that column on the day it appears (Sunday and Wednesday, currently) by going to the opinion page , and read about 8 back columns on the Times op-ed archive. Still older columns will be posted on this site soon. For the latest additions to this site, check out What’s new .

Welcome to my home page. The main purpose of this page is to give interested parties – students, colleagues, journalists, mad bombers, etc. – easy access to some of my more recent writings. For the time being the links in this page lead for the most part to less-formal writing, mainly for nonprofessional publications. I have started, however, to put some pieces that do contain equations into a new section, “Stuff that is harder to read”. (I also maintain a listing, in reverse chronological order, of what’s new on this page).

Most people who have accessed this page probably know who I am, but for anyone else here is a summary. (To learn more click here ). I have recently moved from MIT to Princeton . I was born in 1953, got my Ph.D. from MIT in 1977, and have since taught at Yale and Stanford as well as MIT. I also spent an eye-opening year working at the White House (Council of Economic Advisers) in 1982-3. In 1991 I received my major professional gong, the John Bates Clark Medal, given by the American Economic Association every two years to an economist under 40.

I have written or edited 18 books (I think) and several hundred articles. Most of these are about international trade (I helped found the so-called “new trade theory”, which is about the consequences of increasing returns and imperfect competition for international trade) and international finance, and are pretty well incomprehensible to laymen. However, since I wrote The Age of Diminished Expectations in 1989, I have increasingly tried to communicate with non-economists through op-eds, magazine articles, and so on. It turns out that people have a hard time tracking all of this stuff down; hence this page. It contains, among other things, links to my two former monthly columns: “No free lunch” in Fortune, and “The dismal science” in the cyberspace magazine Slate. (Slate is free – I highly recommend it). As mentioned above, you can read my New York Times column either on paper or online.

With any luck, you will find many of these pieces extremely annoying. My belief is that if an op-ed or column does not greatly upset a substantial number of people, the author has wasted the space. This is particularly true in economics, where many people have strong views and rather fewer have taken the trouble to think those views through – so that simply insisting on being clear-headed about an issue is usually enough to enrage many if not most of your readers.

But read the articles and judge for yourself.

Stuff that is harder to read
” What happened to Asia? ” (for a conference in Japan, January 1998)
” Fire-sale FDI ” (for NBER Conference on Capital Flows to Emerging Markets, Feb. 20-21, 1998)
” Japan’s trap ” (May 1998: an attempt to clarify my own thoughts on the Japanese slump)
Further notes on Japan’s liquidity trap (clarification on “Japan’s trap”)
But for, as if, and so what (a technical note on the effect of trade on wages)
Latin America’s swan song (notes on the current dilemma)
It’s baaack! Japan’s slump and the return of the liquidity trap (draft Brookings Paper – requires Adobe Acrobat)
Japan’s bank bailout (10/17/98 – why the scheme is likely to fail)
Japan: still trapped (11/30/98 – a restatement of the argument)
There’s something about macro (notes about teaching graduate macroeconomics)
The world’s smallest macroeconomic model
Balance sheets, the transfer problem, and financial crises (pdf file, rough draft of conference paper)
Can deflation be prevented? (2/21/99)
Deflationary spirals (2/25/99)
The spatial economy: introduction (introduction to forthcoming book with Masahisa Fujita and Anthony J. Venables)
The fall and rise of development economics (a 1994 essay about models and methods from Rodwin and Schon, Rethinking the Development Experience)
Heaven is a weak euro (6/3/99)
And now for something completely different (Paper presented at a 1998 conference on trade and inequality)
Analytical afterthoughts on the Asian crisis (9/12/99)
Time on the cross: can fiscal policy save Japan? (9/21/99)
Was it all in Ohlin? (paper for Centennial celebration of Bertil Ohlin, Stockholm)
Thinking about the liquidity trap (paper for NBER/CEPR/TCER conference in Tokyo, Dec. 1999)
The energy crisis revisited (note posted Mar. 5, 2000)

Copyright © 1997 Massachusetts Institute of Technology

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