NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The NBER Reporter 2013 Number 1: News



2012 Awards and Honors

A number of NBER researchers received honors, awards, and other forms of professional recognition during 2012. A list of these honors, which excludes those that were bestowed by the researcher's home university, is presented below.

Viral Acharya received the inaugural Banque de France-Toulouse School of Economics Junior Prize in Monetary Economics and Finance. He received the National Stock Exchange of India Best Paper Award for "Sovereign Debt, Government Myopia and the Financial Sector" (with Raghuram Rajan). "Liquidity Risk of Corporate Bond Returns" (co-authored by Yakov Amihud and Sreedhar Bharath) received Second Prize for the Cromwell Award given by Pan Agora Asset Management. He was also named a Director of the Western Finance Association.

Lee Alston won the Cliometric Society's Award for "Exceptional Service to the Field of Cliometrics."

Andrew Ang and Dimitris Papanikolaou won second prize in the Roger F. Murray Prize Competition.

Jeremy Atack served as President of the Economic History Association. He was also elected a Fellow of the Cliometric Society.

David Autor was elected to the American Academy of Arts and Sciences.

Katherine Baicker received the Impact Award from AcademyHealth for her work on the Oregon Health Insurance Experiment. She also was named to the Board of Directors of Eli Lilly, and began serving as Chair of the NIH's SSPS Study Section.

Richard Baldwin was awarded an Honorary Doctorate from the University of St.Gallen, Switzerland.

Marianne Bertrand (and Adair Morse) won the Brattle Group Prize for "Information Disclosure, Cognitive Biases and Payday Borrowing." She also became a Fellow of the American Academy of Arts and Sciences and of the Society of Labor Economists, and won that Society's Rosen Prize for Outstanding Contributions to Labor Economics.

Javier Bianchi received the National Prize in Economics in Uruguay, awarded by Universidad de la Republica, for "Efficient Bailouts?"

Alberto Bisin became a Fellow of the Econometric Society.

Jeffrey Brown and Scott Weisbenner shared the BlackRock Research Award at the 25th Australasian Finance and Banking Conference in December 2012.

Richard Burkhauser (along with Jeff Larrimore and Kosali Simon) won the 2012 Richard Musgrave Prize for the best paper published in the National Tax Journal for "A Second Opinion on the Economic Health of the American Middle Class and Why it Matters in Gauging the Impact of Government Policy."

Charles Calomiris received an Honorary Doctorate from the University of Basel for his achievements in the fields of banking history, banking regulation, and financial fragility.

John Campbell gave the Keynote Address at the Society for Financial Econometrics in Oxford, England; the Morgan Stanley Lecture at the New Economic School in Moscow; the Purvis Lecture at the Canadian Economic Association in Calgary; and the David Kinley Lecture at the University of Illinois.

Scott Carrell and Mark Hoekstra won the IZA (Institute for the Study of Labor) Young Labor Economist Award.

Alessandra Casella was awarded a fellowship at the Straus Institute, NYU Law School.

Amitabh Chandra was elected to the National Academies' Institute of Medicine. He also was awarded the American Society of Health Economics medal recognizing the outstanding economist under age 40. He delivered the George Burch Lecture to the Association of University Cardiologists, and became Editor of the Review of Economics and Statistics.

Hui Chen won the Smith Breeden Distinguished Paper Prize for "Macroeconomic Conditions and the Puzzles of Credit Spreads and Capital Structure."

Janet Currie is the 2013 Eleanor Roosevelt Fellow of the American Academy of Political and Social Science and a Phi Beta Kappa Visiting Scholar. She was also named one of 100 "Alumni of Influence" by University College, University of Toronto, and she was elected Vice President of the Society of Labor Economists.

Raj Chetty received the MacArthur Foundation Fellowship and was elected a Fellow of the Econometric Society.

Philip Cook was elected Fellow of the Academy of Experimental Criminology.

Mario Crucini was elected President of the International Economics and Finance Society and was selected to serve on the Editorial Board of the Pacific Economic Review.

Angus Deaton won the BBVA Frontiers in Knowledge Award in Economics, Finance, and Management. He also was awarded an honorary doctorate in economics by the University of Cyprus.

Rajeev Dehejia and Sadek Wahba's paper, "Propensity Score Matching Methods for Non-Experimental Causal Studies" was selected among 50 Influential Articles published by MIT Press over the last 50 years in the fields of Arts and Humanities; Economics; International Affairs, History, and Political Science; and Science and Technology.

Jan De Loecker received the Kiel Institute's Excellence Awards in Global Economic Affairs for significantly contributing to expanding the knowledge base in global economic research.

Francis Diebold won the Kulp-Wright Award from the American Risk and Insurance Association for the best book on the economics of risk, The Known, the Unknown and the Unknowable. He was also elected a Fellow of the International Institute of Forecasters and is serving as President of the Society for Financial Econometrics.

Susan Dynarski testified before the U.S. Senate Finance Committee on her work in the field of higher education.

Sebastian Edwards was awarded the Carlos Diaz-Alejandro Prize by the Latin American and Caribbean Economics Association in October 2012. His lecture, delivered on that occasion, was titled "Economists as Storytellers."

William Easterly received the Adam Smith Award from The Association of Private Enterprise Education.

Roger Farmer will be the Senior Houblon Norman Fellow at the Bank of England.

Amy Finkelstein received the John Bates Clark Medal from the American Economic Association. She was also elected a Fellow of the American Academy of Arts and Sciences and the Econometric Society.

Price Fishback was selected as a Fellow of the Cliometric Society, a group of quantitative economic historians. He also was elected Executive Director of the Economic History Association.

Jason Fletcher was awarded a William T. Grant Foundation Scholars Award, a five-year Career Development Award to pursue his project entitled, "Interconnected Contexts: The Interplay Between Genetics and Social Settings in Youth Development."

Jeffrey Frankel received the Abramson Scroll from the National Association for Business Economics for his article "What Small Countries Can Teach the World."

Xavier Gabaix received the Lagrange Prize, giving by the CRT Foundation for research on complex systems. He also received a Rising Star in Finance Award.

Jordi Gali received the Research National Prize, awarded by the Government of Catalonia. He also served as President of the European Economic Association.

Claudia Goldin served as President-elect of the American Economic Association. She will assume the post of president at the Society's Annual Meeting in January 2013.

Robert Gordon was the keynote speaker at the 25th Annual Villa Mondragone Conference hosted by Rome's Tor Vergata University. He was also keynote speaker at a London conference on the "Future of Europe."

Gene Grossman received the Bernard Harms Prize from the Kiel Institute for the World Economy. The biennial Prize - named after the founder of the Kiel Institute - honors scholars with a distinguished record in the field of international economics.

Michael Grossman was appointed to the Editorial Board of Economics and Human Biology.

Paola Giuliano was chosen as one of the Visiting Scholars at the Russell Sage Foundation. She was also nominated associate editor for the Journal of the European Economic Association.

Oliver Hart was awarded the Doctor of Laws, Honoris Causa, from the University of Warwick.

Zhiguo He received the Smith-Breeden First Prize for "Rollover Risk and Credit Risk," the Swiss Finance Institute's Outstanding Paper Award for "Macroeconomic Framework to Quantify Systemic Risk," and the Chinese Financial Association best paper award for "Uncertainty, Risk, and Incentives: Theory and Evidence."

Elhanan Helpman received the Onassis Prize and was elected Corresponding Fellow of the British Academy.

Garth Heutel won the the Ralph C. d'Arge and Allen V. Kneese Award for an Outstanding Publication in the Journal of Environmental Economics and Management for "Plant Vintages, Grandfathering, an Environmental Policy."

Bengt Holmstrom won the Banque de France-Toulouse School of Economics Senior Prize.

Hilary Hoynes was appointed to the Advisory Committee for the Directorate for the Social, Behavioral, and Economic Sciences at the National Science Foundation. She also delivered the Joe Tiao Lecture at Kansas State University and was a distinguished speaker in the series on "Deep Issues of the 2012 Elections" at Cornell University.

Oleg Itskhoki received an Excellence Award in Global Economic Affairs from the Kiel Institute for the World Economy.

Joseph Kaboski won the Frisch Medal from the Econometric Society with Robert M. Townsend for "A Structural Evaluation of a Large-Scale Quasi-Experimental Microfinance Initiative."

Sebnem Kalemli-Ozcan was selected as one of the three Inaugural fellows at the IMF.

Loukas Karabarbounis was awarded the Royal Economic Society Prize for the best paper published in the Economic Journal for "One Dollar, One Vote."

Robert Kaestner was named an NCHS Health Policy Fellow by the National Center for Health Statistics and AcademyHealth.

Edward Kane received the Thomas Divine Award for a Lifetime of Contributions to Social Economics and the Social Economy given by the Association for Social Economics.

Bryan Kelly won the AQR Insight Award for his paper "Market Expectations in the Cross Section of Present Values", co-authored with Seth Pruitt. He also won the JP Morgan Award for Best Paper on Financial Institutions and Markets at the WFA Annual Meeting for "Too-Systemic-To-Fail: What Option Markets Imply About Sector-Wide Government Guarantees," co-authored with Hanno Lustig and Stijn Van Nieuwerburgh.

William Kerr won the Kauffman Prize Medal for distinguished research in entrepreneurship by a scholar under age 40 and the FPD Academy Award for Best Research at the World Bank regarding Finance and Private Sector Development.

Christian Leuz won a Humboldt Research Award. He (with Richard Lambert and Robert Verrecchia) also received the Spängler IQAM Best Paper Prize for "Information Precision, Information Asymmetry, and the Cost of Capital" published in the Review of Finance.

Jonathan Levin was selected as a Young Global Leader by the World Economic Forum.

Nuno Limao was an invited speaker for the Econometric Society Australasian Meeting.

Robert Lipsey posthumously received the Kendrick's Prize from the Review of Income and Wealth for the best macro paper in the journal in the past two years.

Andrew Lo was named one of the "Time 100" by Time magazine. He also delivered the 2012 Nash Distinguished Lecture at Carnegie-Mellon University.

Trevon Logan was elected President-Elect of the National Economic Association.

Jens Ludwig was elected to the Institute of Medicine of the National Academies of Science.

Kalina Manova won a Hoover Institution National Fellowship. She also received the Excellence Award in Global Economic Affairs, awarded by the Kiel Institute for World Economy to young economists who have made significant contributions to the study of globalization.

Robert Margo was elected a Fellow of the Cliometric Society, an award for career achievement in the field of economic history.

Ellen McGrattan was elected a Fellow of the Econometric Society.

Antonio Merlo was elected a Fellow of the Econometric Society.

Bruce Meyer received the Emerald Literati Network Award for Excellence for his paper "Consumption and Income Poverty Over the Business Cycle" (with James X. Sullivan), published in Research in Labor Economics.

Robert Moffitt was elected a Fellow of the American Academy of Arts and Sciences.

Adair Morse (with Marianne Bertrand) won the Brattle Group First Prize award at the American Finance Association meetings. She also won the Commonfund Prize for the best paper in asset management at the European Finance Association meetings.

Petra Moser was awarded an NSF CAREER grant for her work on patents and innovation, as well as a Fellowship at the Center for Advanced Studies in the Behavioral Sciences (CASBS).

Aldo Musacchio won the 2012 Gerry Feldman Prize for the Best Research Article Published by Young Scholars in the Financial History Review for "Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930" with André C. Martínez Fritscher. He also received the Manuel Espinosa Yglesias Prize for the best paper or book on banking, awarded by the Centro de Estudios Espinosa Yglesias, for his paper with Stephen Haber, "These Are the Good Old Days: Foreign Entry and the Mexican Banking System."

Lubos Pastor won the Smith Breeden Prize for the best paper on capital markets in the Journal of Finance for "Uncertainty about Government Policy and Stock Prices" co-written with Pietro Veronesi. He also received the Whitebox Advisors' Selected Research Prize for the best financial research of the year for "Are Stocks Really Less Volatile in the Long Run?" co-written with Robert Stambaugh.

Mark Pauly won the William B. Graham Prize for Health Services Research from the Baxter International Foundation and the Association of University Programs in Health Administration. He also received the Victor R. Fuchs Lifetime Achievement Award from the American Society of Health Economists, and is President-elect of the American Society of Health Economists.

Lasse Heje Pedersen won the Bernacer Prize for the Best European Union Economist under Age 40; the Michael Brennan Award for the Best Paper in the Review of Financial Studies for "Margin-Based Asset Pricing and Deviations from the Law of One Price," (with Nicolae Garleanu); the SFI Outstanding Paper Award for "Betting Against Beta"; and the Nykredit Research Prize. He was also elected to the Academia Europaea (the Academy of Europe).

Robert Porter was elected Second Vice-President of the Econometric Society. He will serve as President in 2015.

James Poterba served as the President-Elect of the Eastern Economic Association.

James Rauch was awarded a Guggenheim Fellowship

James Rebitzer (with co-authors Randall Cebul, Lowell Taylor, and Mark Votruba) won the 20th Annual Kenneth J. Arrow Award for best paper in Health Economics for "Unhealthy Insurance Markets: Search Frictions and the Cost and Quality of Health Insurance."

Helene Rey won the first Birgit Grodal Award, the Council of the European Economic Association's prize to a European-based female economist who has made a significant contribution to the Economics profession. The award is named after Birgit Grodal, who passed away before she could take up her duties as the first female president of the EEA.

Michael Roberts was named editor of the Journal of Finance, along with Kenneth Singleton and Bruno Biais.

Dani Rodrik gave the Colin Clark Lecture at the Australasian Econometric Society Meetings in Melbourne and the Roepke Lecture in Economic Geography at the Association of American Geographers conference in New York City. He was also elected a member of the Science Academy of Turkey.

Nancy Rose was elected Vice-President of the American Economic Association.

Raffaella Sadun won the Kauffman Junior Faculty Fellowship in Entrepreneurship Research.

Jose Scheinkman was elected a Corresponding Member of the Brazilian Academy of Sciences.

Philipp Schnabl won the Brattle Group's First Paper Prize award for "The International Transmission of Bank Liquidity Shocks: Evidence from an Emerging Market." The prize is for the best paper in the field of corporate finance in the Journal of Finance.

Peter Schott received an Emerald Management Review Citation of Excellence Award.

William Schwert received the European Financial Management Readers' Choice Award for Scholarship in Financial Research for "Stock Volatility during the Recent Financial Crisis."

Suzanne Scotchmer received an honorary doctorate from the University of Basel and was elected a Fellow of the Econometric Society.

Joel Slemrod received the National Tax Association's Daniel M. Holland Medal for outstanding contributions to the study and practice of public finance.

Robert Stambaugh and Lubos Pastor received the Whitebox Selected Research First Prize for "Are Stocks Really Less Volatile in the Long Run?" He and co-authors Jianfeng Yu and Yu Yuan also received an AQR Insight Award Honorable Mention for "The Short of It: Investor Sentiment and Anomalies."

Paula Stephan was named Science Careers Person of the Year by Science Careers, the online career publication of the journal Science, for her significant and sustained contribution to the welfare of early-career scientists.

Richard Steckel was elected a Fellow of the Cliometric Society, an award for career achievement in the field of economic history.

Lars Svensson has been named a Foreign Honorary Member of the AEA.

Richard Sylla was elected a Fellow of the American Academy of Arts and Sciences, and re-elected chairman of the board of trustees of the Museum of American Finance.

John Taylor received the Manhattan Institute's Hayek Prize for First Principles: Five Keys to Restoring America's Prosperity. The prize recognizes a book published within the past two years that best reflects F.A. Hayek's vision of economic and individual liberty.

Michele Tertilt was awarded a five-year ERC Grant for her research on Gender Differences and the Macroeconomy.

Sheridan Titman served as President of the American Finance Association.

Robert Townsend was awarded the Jean-Jacques Laffont Prize in economics and, along with Joseph Kaboski, received the Frisch Medal of the Econometric Society for a paper on the structural evaluation of microfinance programs. He also was elected a member of the National Academy of Sciences.

Francesco Trebbi won the Bank of Canada Governor's Award which recognizes outstanding Canadian academics at an early stage in their careers who are working on research critical to the Bank of Canada's mandate.

Stijn Van Nieuwerburgh won the JP Morgan Prize for the best paper at the Western Finance Association for "Too-Systemic-To-Fail: What Option Markets Imply about Sector-wide Government Guarantees" with B. Kelly and H. Lustig. He also won best paper prize at the Utah Winter Finance Conference for "Health and Mortality Delta: Assessing the Welfare Costs of Household Insurance Choice", co-authored by R.Koijen and M. Yogo. He was chosen one of the World's Best 40 Business School Professors under the Age of 40 by Poets & Quants; and he received an Excellence in Refereeing Award from the American Economic Review.

John Van Reenen was elected a Fellow of the Econometric Society.

Pietro Veronesi and Lubos Pastor were awarded the 2012 Smith Breeden Distinguished Paper Prize for "Uncertainty about Government Policy and Stock Prices."

Jonathan Vogel was awarded an Alfred P. Sloan Research Fellowship.

John Whalley won the Killam Prize, awarded annually to Canadian scholars working in the humanities, social sciences, natural sciences, health sciences, and engineering in recognition of career achievements.

Eugene White was awarded the Economic History Association's Jonathan R.T. Hughes Prize for Excellence in Teaching.

Heidi Williams was awarded an NSF CAREER Grant for her research on technological change in health care markets.

Michael Woodford won the American Economics Journal: Macroeconomics Best Paper Prize for "Simple Analytics of the Government Expenditure Multiplier."

Wei Xiong and Zhiguo He won the Smith-Breeden Prize for best capital market paper published in the Journal of Finance.

Stanley Zin was elected a Fellow of the Econometric Society.

 
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