The NBER Reporter 2019 Number 4: News

Abhijit Banerjee, Esther Duflo, and Michael Kremer Awarded Nobel Prize

2019 Nobel
From left, Abhijit Banerjee, Esther Duflo, and Michael Kremer

    Abhijit Banerjee and Esther Duflo of MIT and Michael Kremer of Harvard University, all of whom are long-time NBER research associates, were awarded the 2019 Nobel Prize in Economic Sciences. The prize recognizes their contributions to development economics and the study of global poverty. In particular, it cites their championing of randomized controlled trials and field experiments as methodologies for analyzing how a wide range of policy interventions — in health, education, credit markets, and local governance, among others — can contribute to poverty alleviation.

    The laureates' work "has considerably improved our ability to fight global poverty. In just two decades, their new, experiment-based approach has transformed development economics," the Royal Swedish Academy of Sciences said in a statement announcing the award. A key element of the researchers' strategy is a focus on questions that concern specific contributors to poverty, such as lack of education or poor health. Their central methodological contribution is the recognition that these questions "are often best answered via carefully designed experiments among the people who are most affected."

    The full announcement of the Nobel Prize award may be found here; the Royal Swedish Academy also provided a longer explanation of the scientific contributions that underlie this work.

    On December 8, 2019, the laureates delivered lectures in Stockholm on the subject of their prize-winning work. Banerjee and Duflo each lectured on "Field Experiments and the Practice of Economics;" Kremer lectured on "Experimentation, Innovation, and Economics."

Banerjee's lecture

Duflo's lecture

Kremer's lecture

    Banerjee is the Ford Foundation International Professor ofEconomics at MIT and a co-director of the Adbul Latif Jameel Poverty Action Lab (J-PAL). He is a research associate in the NBER programs on Development Economics and Economic Fluctuations and Growth.

NBER papers by Abhijit Banerjee

    Duflo is the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at MIT and a co-director of JPAL. She is a research associate in four NBER programs: Economics of Aging, Children, Development Economics, and Education.

NBER papers by Esther Duflo

    Michael Kremer, the Gates Professor of Developing Societies at Harvard, is also a research associate in four NBER programs: Children, Development Economics, Economic Fluctuations and Growth, and Education.

NBER papers by Michael Kremer

    With this year's awards, 32 current or past NBER research affiliates have received the Nobel Prize: William Nordhaus and Paul Romer, 2018; Richard Thaler, 2017; Oliver Hart and Bengt Holmström, 2016; Angus Deaton, 2015; Lars Hansen and Robert Shiller, 2013; Alvin Roth, 2012; Thomas Sargent and Christopher Sims, 2011; Peter Diamond, 2010; Paul Krugman, 2008; Edward C. Prescott and Finn Kydland, 2004; Robert F. Engle, 2003; Joseph E. Stiglitz, 2001; James J. Heckman and Daniel L. McFadden, 2000; Robert C. Merton and Myron S. Scholes, 1997; Robert E. Lucas, Jr., 1995; and the late Dale Mortensen, 2010; Robert W. Fogel, 1993; Gary S. Becker, 1992; George J. Stigler, 1982; Theodore W. Schultz, 1979; Milton Friedman, 1976; and Simon Kuznets, 1971.

    In addition, six current or past members of the NBER Board of Directors have received the Nobel Prize: George Akerlof, 2001; Robert Solow, 1987; and the late William Vickrey, 1996; Douglass North, 1993; James Tobin, 1981; and Paul Samuelson, 1970.

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New Research Associates and Faculty Research Fellows Named

    The NBER Board of Directors appointed 41 new research associates at its September 2019 meeting. Research associates (RAs) must be tenured faculty members at North American colleges or universities; their appointments are recommended to the board by the directors of the NBER's 20 research programs, typically after consultation with a steering committee of leading scholars.

    The new research associates are affiliated with 26 different colleges and universities; they received their graduate training at 24 different institutions. As of December 1, 2019, there were 1,256 research associates and 307 faculty research fellows. With the exception of one scholar who was previously a research associate, resigned while in public service, and was re-elected, all of the new research associates were previously faculty research fellows. Most were recently granted tenure at their home institutions and therefore became eligible for RA status.

    Two new faculty research fellows (FRFs) were also appointed in July 2019. FRFs are appointed by the NBER president, also on the advice of program directors and steering committees and following a call for nominations in January. They must hold primary academic appointments in North America.

    The names and affiliations of the newly promoted and newly appointed NBER affiliates, along with the names of the universities where they received Ph.Ds., are listed below. The entry in italics designates the RA who was reappointed.

Research Associates

Nikhil Agarwal MIT Industrial Organization
Jennie Bai Georgetown University Asset Pricing
Yan Bai University of Rochester International Finance and Macroeconomics
Matilde Bombardini University of British Columbia Political Economy
Jaroslav Borovička New York University Asset Pricing
Laurent Bouton Georgetown University Political Economy
Richard Burkhauser Cornell University Aging
Leonardo Bursztyn University of Chicago Political Economy
Rafael Dix-Carneiro Duke University International Trade and Investment
Will Dobbie Harvard University Education
Michael Ewens Caltech Productivity, Innovation, and Entrepreneurship
Benjamin Faber UC, Berkeley International Trade and Investment
Thibault Fally UC, Berkeley International Trade and Investment
Xavier Giroud Columbia University Corporate Finance
Joshua Goodman Brandeis University Education
Koichiro Ito University of Chicago Environment and Energy
Amir Kermani UC, Berkeley Monetary Economics
Judd Kessler University of Pennsylvania Public Economics
Carl Kitchens Florida State University Development of the American Economy
Joanna Lahey Texas A&M University Aging
Robin Lee Harvard University Industrial Organization
Derek Lemoine University of Arizona Environment and Energy
Shanjun Li Cornell University Environment and Energy
Adrienne Lucas University of Delaware Children
Rosalie Liccardo Pacula University of Southern California Health Economics
Seth Richards-Shubik Lehigh University Health Economics
Raffaella Sadun Harvard University Productivity, Innovation, and Entrepreneurship
James Sallee UC, Berkeley Public Economics
Alexi Savov New York University Asset Pricing
Allison Shertzer University of Pittsburgh Development of the American Economy
Juan Carlos Suárez Serrato Duke University Public Economics
Tom Vogl UC, San Diego Children
Christopher Walters UC, Berkeley Education
Shing-Yi Wang University of Pennsylvania Development Economics
Casey Warman Dalhousie University Health Economics
Johannes Wieland UC, San Diego Monetary Economics
Jing Cynthia Wu University of Notre Dame Monetary Economics
Crystal Yang Harvard University Law and Economics
Mao Ye University of Illinois Asset Pricing
Haoxiang Zhu MIT Asset Pricing
Nicolas L. Ziebarth Auburn University Development of the American Economy

Faculty Research Fellows

Christina Patterson University of Chicago Monetary Economics
Winnie van Dijk University of Chicago Public Economics

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