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The NBER Reporter 2015 Number 4: News

Deaton Wins Nobel Prize in Economic Sciences


    Princeton University Professor Angus Deaton, an NBER research associate for more than three decades, was awarded the 2015 Nobel Prize in Economic Sciences for his analysis of consumption, poverty, and welfare.
    "To design economic policy that promotes welfare and reduces poverty, we must first understand individual consumption choices," the Royal Swedish Academy of Sciences said in a statement announcing the award. "More than anyone else, Angus Deaton has enhanced this understanding. By linking detailed individual choices and aggregate outcomes, his research has helped transform the fields of microeconomics, macroeconomics, and development economics."
    In his more recent research, the prize committee said, Deaton has highlighted "how reliable measures of individual household consumption levels can be used to discern mechanisms behind economic development. His research has uncovered important pitfalls when comparing the extent of poverty across time and place. It has also exemplified how the clever use of household data may shed light on such issues as the relationships between income and calorie intake, and the extent of gender discrimination within the family."
    Deaton is the Dwight D. Eisenhower Professor of International Affairs and a professor of economics and international affairs at Princeton's Woodrow Wilson School of Public and International Affairs. A native of Scotland, he earned his bachelor's degree and Ph.D. from the University of Cambridge, and holds both British and American citizenship.
    Deaton has authored or co-authored dozens of working papers. His recent papers include Suicide, Age, and Wellbeing: an Empirical Investigation, with Anne Case, and Creative Destruction and Subjective Wellbeing, with Philippe Aghion, Ufuk Akcigit, and Alexandra Roulet. He is affiliated with seven NBER research programs: Aging, Children, Development, Economic Fluctuations and Growth, Education, Health Care, and Public Economics.

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New Board Members Elected


    Pierre-André Chiappori and Jack Kleinhenz were elected to the NBER Board of Directors at the board’s September 2015 meeting.
    Chiappori is the E. Rowan and Barbara Steinschneider Professor of Economics at Columbia University. He received a Ph.D. in economics at the University Paris 1. Prior to joining the Columbia faculty in 2004, he taught in France and at the University of Chicago. His research focuses on household behavior, risk, insurance and contract theory, general equilibrium and mathematical economics. Chiappori is a fellow of the European Economic Association, the Econometric Society, and the Society of Labor Economists. He is a distinguished fellow of the Becker Friedman Institute for Research in Economics at the University of Chicago, and a corresponding member of the French Académie des Sciences Morales et Politiques.
    Kleinhenz is chief economist for the National Retail Federation and the principal and chief economist of Kleinhenz & Associates, a registered investment advisory firm specializing in economic consulting and wealth management. He is an adjunct professor of economics at Case Western Reserve University’s Weatherhead School of Management, in Cleveland, Ohio. Formerly with the Federal Reserve Bank of Cleveland and the Federal Home Loan Bank of Pittsburgh, he is a current member of the Governor of Ohio’s Council of Economic Advisers and is the past president of the National Association for Business Economics.

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Leadership Changes


    Anna Aizer of Brown University, a research associate in the Children's Program, has joined Janet Currie of Princeton as the program's co-director. Aizer has investigated many issues that bear on the economic well-being of children, including the impact of maternal circumstances on child well-being, the link between public health insurance and health outcomes for children, and the determinants of youth violence and criminal activity.
    Nicholas Barberis of Yale University, a research associate in the Asset Pricing Program and the Stephen and Camille Schramm Professor of Finance at Yale University's School of Management, is the new director of the Behavioral Finance Working Group. He succeeds founding co-directors Robert Shiller of Yale and Richard Thaler of the University of Chicago. Barberis has used insights from psychology to study investor decision making in a wide range of contexts. His work has provided new insights on disparities between observed investor behavior and the predictions that derive from many standard models of financial decision-making.
    Robert Moffitt of Johns Hopkins University, a research associate in the Children's, Education, and Public Economics programs, has succeeded Jeffrey Brown of the University of Illinois as editor of the Tax Policy and the Economy annual. The papers in this volume are presented at a conference in Washington, D.C., each fall. Moffitt is the Krieger-Eisenhower Professor of Economics at Hopkins and a former editor of The American Economic Review. His research ranges broadly in the fields of tax policy, transfer program design, and labor economics.

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