Raj Chetty wins the John Bates Clark award

by on April 12, 2013 at 2:34 pm in Economics | Permalink

And at age 33 (!), well-deserved, there is more here.  Here is previous MR coverage of Chetty.

1 Finley April 12, 2013 at 2:50 pm

About time. He’s been the best American economist under forty for several years now.

2 Enrique April 13, 2013 at 12:21 am

Maybe so, but why not give the award to someone like Ivan Werning, before he turns 40 (he is now 38), and then give it Chetty two years the next time around, since he (Chetty) would still be well under 40 the next time the award is made … I guess life is not fair

3 dan1111 April 13, 2013 at 3:51 am

According to Wikipedia, it is now awarded every year, so he’ll have another chance.

4 Steve Sailer April 12, 2013 at 9:24 pm

Here’s Chetty’s response to the Edge question about what questions you most dread:

“Here are three questions that come to mind that I dread answering as an economist working on policy issues:

“1. If you were in charge, what policies would you enact today to raise growth rates and incomes for the average family in America?

“2. Why do American students perform poorly relative to students in other countries and how can we fix education in the U.S.?

“3. When are house prices going to recover to pre-recession levels?”

Funny how all three questions have a sizable immigration angle.

5 Rahul April 13, 2013 at 1:25 am

To you even “The tomatoes seem really nice this year” would probably have a sizable race or immigration angle.

6 Ashok Rao April 13, 2013 at 2:57 am

+1

7 LB April 13, 2013 at 2:59 pm

Don’t begrudge Steve his low entropy commenting. It’s comforting to know that there’s always a way to connect things to immigrants or The Jews.

8 dan1111 April 13, 2013 at 5:06 am

Immigrants/immigration are part of the American economy. Therefore they effect every single economic issue somehow. It is not at all interesting that an immigration angle can be discovered for every issue an economist mentions.

Are those three issues particularly tied to immigration, more than other issues? Not that I can see.

9 ThatsMeTrying April 12, 2013 at 9:57 pm

His course on public economics is available on youtube http://www.youtube.com/course?list=EC2SOU6wwxB0v3c46v2ptuDKIHmXHRAmeU

Oh, the wonders of the modern age!

10 not a critic but April 12, 2013 at 11:04 pm

One of the links appeared to suggest that this obviously intellligent young man impressed a Harvard economics teacher by being the the first economist in his
particular subfield (as a sophomore at Harvard) to realize that newly unemployed people had mortgages to pay, and car payments to make..
If anyone has followed the links, could they tell me if that was a joke

11 Steve April 14, 2013 at 12:38 am

The story is sort-of true. What he observed was that unemployed people have “consumption commitments” like a mortgage and that the inability to just say “hey I’m making less money now and probably in the future so I should get a downsize to a smaller house” might be something important to add the old economic models. All the models simplify things and what makes Chetty a great economist is he sees new things that are important to add to the models AND finds ways of doing it.

12 Raymond ("Ray) Lopez April 12, 2013 at 11:57 pm

Wow, Raj Chetty?! Wow. Congradulations and well-earned. Hope he gets the recognition he deserves.

Raj Chetty Google hits: About 1,720,000 results (0.31 seconds)
Ray Lopez Google hits: About 110,000,000 results (0.23 seconds)

13 DRDR April 13, 2013 at 7:03 am

Reading through the AEA’s lengthy description of Raj’s research, I’d sum up his major contributions as follows:
— raising the standards in empirical public finance for data quality and quasi-experimental variation
— incorporating the simplest “behavioral” insights into public finance (e.g. tax salience) in a way that resolves important puzzles left unresolved by standard methods (e.g. differences in measured micro and macro responses to taxes)
— encouraging economists to focus more on statistics that are robust to the theoretical specification

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