Draft:Costas Arkolakis

  • Comment: Please do not resubmit without making any changes since the last decline  Vanilla  Wizard 💙 22:58, 24 August 2025 (UTC)
  • Comment: Not yet notable.
    1. The person's research has had a significant impact in their scholarly discipline, broadly construed, as demonstrated by independent reliable sources: He is well defined in econom8cs but the draft lacks reliable sources to convey that, which may include reviews of his works on that field, etc.
    2. The person has received a highly prestigious academic award or honor at a national or international level: I wouldn't consider being an elected a fellow of the Econometric Society as one of this. At least it isn't demonstrated by a reliable source. See WP:RS. Safari ScribeEdits! Talk! 22:44, 1 June 2025 (UTC)
  • Comment: Resubmission in terms of notability looks good to me; however I doubt the need to elaborate each paper in great detail. Summaries are almost abstract length for each of them, which seems too much given lack of secondary sources. Broad research agenda + ACR formula should be enough for now. DracaenaGuianensis (talk) 04:50, 13 May 2025 (UTC)
  • Comment: Please be clear which of the 8 WP:PROF criteria applies to this subject Flat Out (talk) 00:47, 28 March 2025 (UTC)

Costas Arkolakis is a Greek-American economist, and has been a Professor of Economics at Yale University since 2018. He has written a number of articles about economic activity. He is best known for his 2012 paper “New Trade Models, Same Old Gains?” with Arnaud Costinot and Andres Rodriguez-Clare. In 2024, he was elected a fellow of the Econometric Society.[1]

Early life and education

Arkolakis received a B.A. in economics from Aristotle University of Thessaloniki, Greece in 2001, and received his Ph.D. in economics from the University of Minnesota in 2007.

Career

In 2007, Arkolakis became a professor at Yale University, and has worked there since.

He has written a number of articles about economic activity. Arkolakis is best known for his 2012 paper “New Trade Models, Same Old Gains?” with Arnaud Costinot and Andres Rodriguez-Clare.

Arkolakis has carried out research with various collaborators into which firms benefit from exporting, whether countries benefit from opening up their markets, which kind of goods are likely to be traded more, and the benefit of infrastructure improvements on trade. In particular, his research argues that the gains of the US Interstate Highway System substantially exceed the costs.[2][3]

In 2024, he was elected a fellow of the Econometric Society.[1]

Academic Contributions

Arkolakis is best known for his 2012 paper “New Trade Models, Same Old Gains?” with Arnaud Costinot and Andres Rodriguez-Clare, which has proven enormously influential in trade theory.[ca 1] Firms vary widely in their production functions. The Melitz model of trade predicts that when the cost of exporting falls, the more efficient firms are the ones who take advantage of it. They benefit more from the expansion in market size than they are hurt by the increase in competition.[4]

Arkolakis, Costinot, and Rodriguez-Clare are able to show that, for a large class of trade models[5][6][7] the gains from trade depend only on the share of expenditure on domestic goods, and the elasticity of imports with respect to trade costs. Plugging in estimates for those two parameters gives a range of the gains from trade between .7 and 1.4 percent.[8]

Arkolakis, Costinot, and Rodriguez-Clare, now with Dave Donaldson, extended their work to analyze the gains from trade when markups are variable, in "The Elusive Pro-Competitive Effects of Trade". The gains from a country opening up their markets to trade may increase competition, and reduce the markups of domestic firms. On the other hand, foreign firms might be able to increase their markups. Estimates shows that opening trade need not improve allocation. The positive change to domestic firms is offset by the negative change to foreign firms.[ca 2][9]

Arkolakis has worked on reconciling our trade models with empirical observations. Only some firms export. How much they export changes as trade openness changes and exports are more likely to go to larger nations. Arkolakis proposes that firms faced a fixed cost to enter a market, and then face an increasing marginal cost to reach additional consumers. This can be contrasted with the Melitz model. Arkolakis predicts that trade in low-volume goods increases much more when trade liberalizes than in commonly-exported goods.[ca 3]

Arkolakis, especially with Treb Allen, has worked on calculating the value of infrastructure improvements. Where people live is affected by economic activity and vice versa. They show that the effects of traffic congestion on the location of economic activity grow larger as scale increases. They then apply their framework in several papers to estimating the gains from the Interstate Highway System, finding that the gains substantially exceed the costs.[ca 4][ca 5][2][3]

References

  1. ^ a b "The Econometric Society Announces its 2024 Fellows", https://www.econometricsociety.org/society/news/The-Econometric-Society-Announces-its-2024-Fellows-2024-10-11.html
  2. ^ a b "New Estimates of the Benefits of U.S. Highway Construction", Morgan Foy, NBER digest, April 1st 2019,
  3. ^ a b Jan Cipiur, "How Highways Contribute to Economic Growth", Obserwator Finansowy, March 10th 2019,
  4. ^ Melitz, Marc J., and Daniel Trefler. 2012. "Gains from Trade When Firms Matter." Journal of Economic Perspectives 26 (2): 91–118. DOI: 10.1257/jep.26.2.91
  5. ^ Eaton, J., & Kortum, S. (2002). Technology, Geography, and Trade. Econometrica, 70(5), 1741–1779. http://www.jstor.org/stable/3082019
  6. ^ Krugman, P. (1980). Scale Economies, Product Differentiation, and the Pattern of Trade. The American Economic Review, 70(5), 950–959. http://www.jstor.org/stable/1805774
  7. ^ Melitz, M.J. (2003), The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity. Econometrica, 71: 1695-1725. https://doi.org/10.1111/1468-0262.00467
  8. ^ Melitz, Marc J., and Stephen J. Redding. 2015. "New Trade Models, New Welfare Implications." American Economic Review 105 (3): 1105–46. DOI: 10.1257/aer.20130351
  9. ^ Acemoglu, Daron. 2018. "Dave Donaldson: Winner of the 2017 Clark Medal." Journal of Economic Perspectives 32 (2): 193–208. DOI: 10.1257/jep.32.2.193

Primary sources

  1. ^ Arkolakis, Costas, Arnaud Costinot, and Andrés Rodríguez-Clare. 2012. "New Trade Models, Same Old Gains?" American Economic Review 102 (1): 94–130. DOI: 10.1257/aer.102.1.94
  2. ^ Costas Arkolakis, Arnaud Costinot, Dave Donaldson, Andrés Rodríguez-Clare, The Elusive Pro-Competitive Effects of Trade, The Review of Economic Studies, Volume 86, Issue 1, January 2019, Pages 46–80, https://doi.org/10.1093/restud/rdx075
  3. ^ Arkolakis, C. (2010). Market Penetration Costs and the New Consumers Margin in International Trade. Journal of Political Economy, 118(6), 1151–1199. https://doi.org/10.1086/657949
  4. ^ Treb Allen, Costas Arkolakis, The Welfare Effects of Transportation Infrastructure Improvements, The Review of Economic Studies, Volume 89, Issue 6, November 2022, Pages 2911–2957, https://doi.org/10.1093/restud/rdac001
  5. ^ Treb Allen, Costas Arkolakis, Trade and the Topography of the Spatial Economy , The Quarterly Journal of Economics, Volume 129, Issue 3, August 2014, Pages 1085–1140, https://doi.org/10.1093/qje/qju016

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