Bernhard Harms Prize 2016

07 Dec 2016

The Bernhard Harms Prize 2016 was awarded to Professor Marc Melitz, Harvard University, in a ceremony held at the Kiel Institute on Dec.7, 2016.

“In Marc Melitz, we are honoring an economist who has made a very valuable contribution to the research of global economic relationships and global economic cooperation,” said Dennis Snower, president of the Kiel Institute, on presenting the award. “Thanks to his work, we now understand the conditions that determine when companies are restricted to their domestic market, when they begin to export, and when they establish a presence in other countries. We understand why companies with the same products and the same target groups operate in totally different ways on the global stage, and we have a better idea of the extent to which international trade can strengthen the market position and productivity of a company in its home country.” Melitz’s 2003 paper The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity, originally published in the prestigious journal Econometrica, is one of the most widely referenced works in recent decades, with over 10,000 academic citations. The Melitz model presented in the paper is now a cornerstone of modern international trade theory.