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Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Saturday, April 13, 2013

Raj Chetty Named Best American Economist Under 40

ChettyThe American Economic Association announced yesterday that Raj Chetty (Harvard University, Department of Economics) has won the 2013 John Bates Clark Medal, awarded to the "American economist under the age of forty who is judged to have made the most significant contribution to economic thought and knowledge."  From the press release:

Raj Chetty is an influential young economist working on tax policy, social insurance, and education policy.  He uses new evidence about human behavior to synthesize results from different subfields of economics. ... Raj Chetty is a remarkably productive economist whose contributions assimilate evidence using a variety of methodological perspectives to shed new light on important public policy questions.  His work extends basic price theory by incorporating behavioral and psychological aspects of economic behavior; reconciles results from different branches of economics, whether between structural and reduced form economists, or among previously inconsistent estimates of key parameters such as labor supply elasticities; and employs data that are uniquely suited to answer otherwise unanswerable questions.  He has established himself in a few short years as arguably the best applied microeconomist of his generation.

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It's only because Obama isn't under forty. ... Okay, I'm being sarcastic.

Posted by: Woody | Apr 13, 2013 2:43:30 PM

From a Washington Post blog:

Arguably Chetty’s most celebrated paper, co-authored with Harvard colleague John Friedman and Danish economists Soren Leth-Petersen, Torben Heien Nielsen and Tore Olsen, is “Active vs. Passive Decisions and Crowd-out in Retirement Savings Accounts: Evidence from Denmark.” The paper aims to figure out whether tax incentives to save for retirement merely give money to people who were going to save anyway, or if they actually encourage new savings.

The authors conclude that the former is by far the likelier response.

Posted by: Bob | Apr 13, 2013 4:57:33 PM