Hawaii visit on D. OHIO STATE UNIVERSITY Krugman, Paul (1953 ) EDUCATED AT YALE University and the Massachusetts Institute of Technology (MIT), Paul Krugman has made valuable contributions in the area of international economics. His first contribution was to provide a theoretical explanation of the phenomenon of intra-industry trade in differentiated products. Intra-industry trade cannot be explained using traditional trade models. Long before Krugman, some economists had pointed out the possibility that this type of trade could arise from product differentiation. Krugman acknowledges their contributions but offers a more tractable, simple, and elegant model. Another contribution was to create what is now called the new trade theory. Hawaii visit 2016.
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