Who Is Claudia Goldin? This Year's Winner Of Nobel Prize In Economics

The last Nobel Prize announcement for this year was made yesterday, with Claudia Goldin winning the Nobel Prize in Economics for working on the gender pay gap.

Who Is Claudia Goldin?

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Harvard economist Claudia Goldin has been awarded the Nobel Prize in economics this year for her work examining the gender pay gap. 77-year-old Goldin was recognised for her research showing that women are paid less than men on average despite having higher education levels and that most of the gap appears after childbirth.

¡°This year¡¯s Laureate in the Economic Sciences, Claudia Goldin, provided the first comprehensive account of women¡¯s earnings and labour market participation through the centuries,¡± the Royal Swedish Academy of Sciences said on Monday. This academy awards the Nobel Prize in Economics every year.

¡°Her research reveals the causes of change as well as the main sources of the remaining gender gap.¡±

Also Read: Nobel Prize 2023: How Much Prize Money Will Winners Receive

Who All Has Won Nobel Prize In Economics Till Date?

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Goldin is only the third woman to be awarded the Nobel Prize in economics, which has the fewest number of female laureates, after Elinor Ostrom in 2009 and Esther Duflo in 2019. The economics award was created in 1968.

Here's the complete list of all the people who have won the Nobel Prize In Economics to date:

2023-Claudia Goldin ¡°for having advanced our understanding of women¡¯s labour market outcomes¡±

2022-Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig ¡°for research on banks and financial crises¡±

2021-David Card ¡°for his empirical contributions to labour economics¡±

2021-Joshua D. Angrist and Guido W. Imbens ¡°for their methodological contributions to the analysis of causal relationships¡±

2020-Paul R. Milgrom and Robert B. Wilson ¡°for improvements to auction theory and inventions of new auction formats¡±

2019-Abhijit Banerjee, Esther Duflo and Michael Kremer ¡°for their experimental approach to alleviating global poverty¡±

2018-William D. Nordhaus ¡°for integrating climate change into long-run macroeconomic analysis¡±

2018-Paul M. Romer ¡°for integrating technological innovations into long-run macroeconomic analysis¡±

2017-Richard H. Thaler ¡°for his contributions to behavioural economics¡±

2016-Oliver Hart and Bengt Holmstr?m ¡°for their contributions to contract theory¡±

2015-Angus Deaton ¡°for his analysis of consumption, poverty, and welfare¡±

2014-Jean Tirole ¡°for his analysis of market power and regulation¡±

2013-Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller ¡°for their empirical analysis of asset prices¡±

2012-Alvin E. Roth and Lloyd S. Shapley ¡°for the theory of stable allocations and the practice of market design¡±

2011-Thomas J. Sargent and Christopher A. Sims ¡°for their empirical research on cause and effect in the macroeconomy¡±

2010-Peter A. Diamond, Dale T. Mortensen and Christopher A. Pissarides ¡°for their analysis of markets with search frictions¡±

2009-Elinor Ostrom ¡°for her analysis of economic governance, especially the commons¡±

2009-Oliver E. Williamson ¡°for his analysis of economic governance, especially the boundaries of the firm¡±

2008-Paul Krugman ¡°for his analysis of trade patterns and location of economic activity¡±

2007-Leonid Hurwicz, Eric S. Maskin and Roger B. Myerson ¡°for having laid the foundations of mechanism design theory¡±

2006-Edmund S. Phelps ¡°for his analysis of intertemporal tradeoffs in macroeconomic policy¡±

2005-Robert J. Aumann and Thomas C. Schelling ¡°for having enhanced our understanding of conflict and cooperation through game-theory analysis¡±

2004-Finn E. Kydland and Edward C. Prescott ¡°for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles¡±

2003-Robert F. Engle III ¡°for methods of analyzing economic time series with time-varying volatility (ARCH)¡±

2003-Clive W.J. Granger ¡°for methods of analyzing economic time series with common trends (cointegration)¡±

2002-Daniel Kahneman ¡°for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty¡±

2002-Vernon L. Smith ¡°for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms¡±

2001-George A. Akerlof, A. Michael Spence and Joseph E. Stiglitz ¡°for their analyses of markets with asymmetric information¡±

2000-James J. Heckman ¡°for his development of theory and methods for analyzing selective samples¡±

2000-Daniel L. McFadden ¡°for his development of theory and methods for analyzing discrete choice¡±

1999-Robert A. Mundell ¡°for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas¡±

1998-Amartya Sen ¡°for his contributions to welfare economics¡±

1997-Robert C. Merton and Myron S. Scholes ¡°for a new method to determine the value of derivatives¡±

1996-James A. Mirrlees and William Vickrey ¡°for their fundamental contributions to the economic theory of incentives under asymmetric information¡±

1995-Robert E. Lucas Jr. ¡°for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy¡±

1994-John C. Harsanyi, John F. Nash Jr. and Reinhard Selten ¡°for their pioneering analysis of equilibria in the theory of non-cooperative games¡±

1993-Robert W. Fogel and Douglass C. North ¡°for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change¡±

1992-Gary S. Becker ¡°for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including nonmarket behaviour¡±

1991-Ronald H. Coase ¡°for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy¡±

1990-Harry M. Markowitz, Merton H. Miller and William F. Sharpe ¡°for their pioneering work in the theory of financial economics¡±

1989-Trygve Haavelmo ¡°for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures¡±

1988-Maurice Allais ¡°for his pioneering contributions to the theory of markets and efficient utilization of resources¡±

1987-Robert M. Solow ¡°for his contributions to the theory of economic growth¡±

1986-James M. Buchanan Jr. ¡°for his development of the contractual and constitutional bases for the theory of economic and political decision-making¡±

1985-Franco Modigliani ¡°for his pioneering analyses of saving and of financial markets¡±

1984-Richard Stone ¡°for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis¡±

1983-Gerard Debreu ¡°for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium¡±

1982-George J. Stigler ¡°for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation¡±

1981-James Tobin ¡°for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices¡±

1980-Lawrence R. Klein ¡°for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies¡±

1979-Theodore W. Schultz and Sir Arthur Lewis ¡°for their pioneering research into economic development research with particular consideration of the problems of developing countries¡±

1978-Herbert A. Simon ¡°for his pioneering research into the decision-making process within economic organizations¡±

1977-Bertil Ohlin and James E. Meade ¡°for their pathbreaking contribution to the theory of international trade and international capital movements¡±

1976-Milton Friedman ¡°for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy¡±

1975-Leonid Vitaliyevich Kantorovich and Tjalling C. Koopmans ¡°for their contributions to the theory of optimum allocation of resources¡±

1974-Gunnar Myrdal and Friedrich August von Hayek ¡°for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena¡±

1973-Wassily Leontief ¡°for the development of the input-output method and for its application to important economic problems¡±

1972-John R. Hicks and Kenneth J. Arrow ¡°for their pioneering contributions to general economic equilibrium theory and welfare theory¡±

1971-Simon Kuznets ¡°for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and process of development¡±

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¡±

1969-Ragnar Frisch and Jan Tinbergen ¡°for having developed and applied dynamic models for the analysis of economic processes¡±

Also Read: Who Was James Wilson? The Man Who Introduced Income Tax In India In 1860

What Research Did Goldin Do?

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For her research that showed women are paid less than men on average despite having higher education levels and that most of the gap appears after childbirth, Harvard professor Goldin examined data covering 200 years of women¡¯s participation in the workforce in the United States. Goldin¡¯s research found that a woman¡¯s role in the job market and her pay are determined partly by individual decisions, including educational choices, as well as broad social and economic changes.

While much of the earnings gap historically could be explained by differences in education and occupational choices, Goldin ¡°has shown that the bulk of this earnings difference is now between men and women in the same occupation and that it largely arises with the birth of the first child¡±, the prize committee said.

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