- University Professor, Columbia University
- Senior Vice President and Chief Economist, World Bank (from 1997 to 2000)
- Chairman, Council of Economic Advisers (Member of Cabinet) (from 1995 to 1997)
- Quondam Fellow, All Souls College (from 1979)
- Drummond Professor of Political Economy, University of Oxford and Fellow, All Souls College (from 1976 to 1979)
- Visiting Fellow, St Catherine's College, Oxford University (from 1973 to 1974)
- Nobel Prize in Economics (2001)
- John Bates Clark Award, American Economic Association (1979)