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Steven D. Levitt, John A. List, and Chad Syverson, 2013. Journal of Political Economy, 121(4):643-81.
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The 2007 Subprime Market Crisis Through the Lens of European Central Bank Auctions for Short-Term Funds
Cassola, Nuno, Ali Hortacsu, and Jakub Kastl. 2013. Econometrica, 81(4): 1309-1345.
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In recognition of University Trustee Alvaro Saieh's (AM’76, PhD’80) generous contribution to the renovation and adaptive reuse of 5757 South University Ave., the iconic structure has been named the Saieh Hall for Economics. At the June 4th Board of Trustees meeting, President Robert J. Zimmer stated, "We are deeply grateful for Alvaro’s generosity, which provides support for our faculty, students, visitors and initiatives that will fuel collaboration and discoveries with global impact." The Saieh Hall for Economics will contain 150,000 square feet of classrooms, seminar and conference rooms, and collaborative workspaces, accommodating the Department of Economics and the Becker Friedman Institute for Research in Economics. Read full story here.
Doti: Remembering Gary Becker's Contributions
Chapman University president Prof. James L. Doti shares his memories and offers a tribute to his former professor in this recent Orange County Register news article.
Economics Welcomes New Faculty: Brooks, Lamadon
We are pleased to announce that Benjamin Brooks (Princeton) and Thibaut Lamadon (UCL) will be joining us as Assistant Professors in the Department of Economics and the College. Brooks, whose research focuses on microeconomic theory, will be a Becker Friedman Research Scholar for two years and joins the department in July 2016. Lamadon will be a BFI Research Scholar for one year, and will join our faculty in July 2015. His research focuses on macro-labor, dynamic contracting, equilibrium search and applied econometrics.
Gary Becker (1930-2014)
Professor Gary Becker (University of Chicago, 1955) passed away on Saturday, May 3, 2014. He started his career as an Assistant Professor at the University of Chicago from 1954-1957. He joined Columbia University in 1957 as an Assistant Professor, was promoted to Associate Professor and then full Professor in 1960, becoming the Arthur Lehman Professor of Economics in 1968. In 1970, he returned to University of Chicago as University Professor. He served as Department of Economics Chairman in 1984-85. He held a joint appointment in Sociology and the Booth School. He was also the Rose-Marie and Jack R. Anderson Senior Fellow at the Hoover Institution since 1990.
Gary received many awards for his work. He received the John Bates Clark Medal in 1967. He was elected Fellow of the American Academy of Arts and Sciences in 1972. He served as President of the American Economic Association in 1987. He was awarded the Nobel Memorial Prize in Economic Sciences in 1992 for "having extended the domain of microeconomic analysis to a wide range of human behavior and interaction, including nonmarket behavior." He received the National Medal of Science in 2000 for his work in social policy and received the Presidential Medal of Honor in 2007.
He was a pioneer in the fields of human capital, economics of the family, and economic analysis of crime, discrimination, addiction, and population. He was a featured columnist for Business Week and coauthor of the Becker-Posner Blog with Richard Posner, senior lecturer at the University of Chicago Law School. A memorial service is being planned. Read full article here.
Werning, Colleagues Remember Becker
Heckman Awarded Frisch Medal
Professor James Heckman will receive this year's Frisch Medal for his paper, "Estimating the Technology of Cognitive and Noncognitive Skill Formation." The Econometric Society cites the work as "a comprehensive framework for analyzing the evolution of cognitive skills and personality traits across the different stages of childhood...a powerful demonstration of the value of formal methods in elucidating policy questions of the highest importance."
Greenstone Elected to AAAS
Professor Michael Greenstone is one of this year's newly elected members of the American Academy of Arts and Sciences, one of the nation's most prestigious honorary societies. His research focuses largely on the economics of environmental quality and energy policy, including a large-scale project seeking to estimate the costs of climate change around the world. Read full story.
Myerson: What is Putin's Secret Weapon?
Russia's President Vladimir Putin can seemingly muster crowds of secessionist supporters in Ukraine with a "wave of his hand in the Kremlin;" Nobel Laureate Roger Myerson analyzes the forces in play, and how Putin cultivated his powerful web of influence in this Huffington Post essay.
30 Top Thinkers Under 30: Glen Weyl
Spotlighted in Pacific Standard's 30 Top Thinkers Under 30, E. Glen Weyl talks candidly about his academically and politically active youth, his mentors and future plans, and how quadratic voting could "refit the social machine."
Myerson: A Way Forward for Ukraine
In The New York Times, Nobel Laureate Roger Myerson, with co-authors Tymofiy Mylovanov and Scott Gehlbach, addresses Ukraine's turbulent transition to independent democracy. Myerson proposes that changing Ukraine's constitution to allow local selection of governors - rather than its current regime of centralized appointments - would create a pool of national politicians with reputations for governing responsibly, allaying Eastern Ukraine's fear of Western domination and reducing instability that invites Russian intervention. Learn more about the "Myerson and Mylovanov Initiative" at the Kyiv Post, and the Ukraine Crisis Media Center.
Glen Weyl on the ACA's Future
Glen Weyl receives 2014 Alfred P. Sloan Foundation Research Fellowship
Economics Department Welcomes New Faculty Member
We are pleased to announce that Michael Greenstone (Princeton) will be joining us on July 1, 2014 in the rank of Professor in the Department of Economics and the College. Michael will also serve as Director of the interdisciplinary Energy Policy Institute at Chicago. He began his career in 2000 as an Assistant Professor in our department. He left in 2003 to accept an Associate Professor position at MIT. In 2009-10, he served as the chief economist at the White House's Council of Economic Advisers. Full story here.
Ronald Coase Institute Receives 2013 Fisher Award
The Atlas Network announced its 2013 Sir Antony Fisher International Memorial Award winner, the Ronald Coase Institute, for the book "How China Became Capitalist," written by late Professor Ronald Coase and co-author Ning Wang. Dr. Wang accepted the prize on behalf of the Institute at the Nov. 13th ceremony in New York City. More details here.
Hansen Receives Nobel Prize
The Department of Economics proudly announces that Professor Lars Peter Hansen, David Rockefeller Distinguished Service Professor, has received the Nobel Prize in Economic Sciences. Hansen pioneered the development of econometric methods to tackle the world's most difficult questions. He has applied these methods to study the determinants of consumption, savings and security market prices, lending powerful insights into how various policy proposals affect the economy. His seminal paper, "Large Sample Properties of Generalized-Methods of Moments Estimators," importantly altered the landscape for how empirical research is done in finance and macroeconomics. Hansen shares this year's prize with fellow University of Chicago Professor Eugene F. Fama. Video, slideshow and full story here.
Ali Hortacsu Elected Fellow of the Econometric Society
Ali Hortacsu has been elected Fellow of the Econometric Society. View the complete list of 2013 members at www.econometricsociety.org/newfellows.asp .
Myerson Receives Oskar Morgenstern Award
Professor Roger Myerson has been named recipient of the Oskar Morgenstern Award from the Society for the Advancement of Economic Sciences at the University of Vienna. The prize was established to honor an outstanding economist whose work is closely connected to the writings of Oskar Morgenstern, one of the co-founders of game theory.