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Featured Research: The Economics of Retirement
Featured Research: The Economics of Retirement
The retirement landscape is changing. And Professor James Poterba's research shows that you probably arenít saving enough. Americans are living longer, are more likely to be unemployed, and are working later in life when they can; many of those who had pension guarantees are losing them. Poterba and two colleagues found that roughly half of Americans die with less than $10,000 in assets beyond their annual retirement incomes. Some retirees are one health problem or market slump away from having almost no savings.
Heidi Williams selected as an Alfred P. Sloan Research Fellow
Heidi Williams selected as an Alfred P. Sloan Research Fellow
Class of 1957 Career Development Assistant Professor Heidi Williams has been awarded a 2015 Sloan Research Fellowship. The Sloan Research Fellowships seek to stimulate fundamental research by early-career scientists and scholars of outstanding promise. These two-year fellowships are awarded yearly in recognition of distinguished performance and a unique potential to make substantial contributions to their field.
Stephen Ross awarded 2015 Deutsche Bank Prize in Financial Economics
Stephen Ross awarded 2015 Deutsche Bank Prize in Financial Economics
Franco Modigliani Professor of Finance and Economics Stephen A. Ross has received the 2015 Deutsche Bank Prize in Financial Economics for his groundwork and fundamental contributions to the analytical development of financial economics. Jury Chairman and CFS Director Jan Pieter Krahnen explained the decision of the international Jury: "The Jury has chosen Professor Stephen A. Ross for his groundwork and fundamental contributions to the analytical development of financial economics. For more than 25 years major models developed by him have marked the economic world. His models relate to the theory of asset pricing, the analysis of the term structure of interest rates, understanding option prices, and the basic structure of the principal-agent problem. The work of Stephen A. Ross has shaped today's thinking in financial innovation, practice, and policy."
Robert Solow wins Presidential Medal of Freedom
Robert Solow wins Presidential Medal of Freedom
Institute Professor Robert Solow is among 19 new winners of the Presidential Medal of Freedom, the nation's highest civilian honor. "Robert Solow is one of the most widely respected economists of the past 60 years," the White House said of the MIT economist, who received the Nobel Prize in economics in 1987. "His research in the 1950s, 1960s, and 1970s transformed the field, laying the groundwork for much of modern economics. He continues to influence policymakers, demonstrating how smart investments, especially in new technology, can build broad-based prosperity, and he continues to actively participate in contemporary debates about inequality and economic growth."
3 Questions: Amy Finkelstein on testing health care systems
3 Questions: Amy Finkelstein on testing health care systems
About 80 percent of studies of U.S. medical interventions use randomized controlled trials (RCTs), the gold standard of laboratory research. But only about 18 percent of studies of U.S. health care delivery use RCTs. That can and should change, suggests Amy Finkelstein, the Ford Professor of Economics at MIT, in a Science piece co-written with MIT researcher Sarah Taubman. If so, they assert, researchers who find new ways of applying RCTs to our medical system will be able to produce compelling answers to pressing questions.
Featured Research: Quantifying Confidence
Featured Research: Quantifying Confidence
Recessions are often described are periods of "weak aggregate demand" and "low confidence". Yet, it is debatable what these notions mean, or what their quantitative importance is. A paper authored by Professors George-Marios Angeletos, Fabrice Collard (University of Bern), and Harris Dellas (University of Bern) provides evidence that appears to contradict existing formalizations of the business cycle and argue that the incorporation of strategic uncertainty, and of a certain type of belief waves, helps provide a quantitatively potent account of the aforementioned notions, and the business cycle at large, without the usual reliance on nominal rigidities.
Ivan Werning awarded 2014 Banque de France/TSE Junior Prize in Monetary Economics and Finance
Ivan Werning awarded 2014 Banque de France/TSE Junior Prize in Monetary Economics and Finance
The 2014 Junior prize in Monetary Economics and Finance is awarded to Professors Ralph Koijen and Ivan Werning by the Banque de France and the Toulouse School of Economics. This prize, granted annually, distinguish academic researchers who have developed central concepts to improve our understanding of Monetary Economics and Finance. The aim of the prize is to foster conceptual progress that will eventually allow the design and implementation of improved policies by central banks.
Featured Research: Is the medical match fair?
Featured Research: Is the medical match fair?
Study by Assistant Professor Nikhil Agarwal finds the demand for positions strongly influences medical residents' salaries. His study indicates that demand for a limited number of desirable residency positions can keep salaries low ó and introduces a new way of assessing that demand despite incomplete data that has previously restricted analysis of the issue.
Esther Duflo awarded Infosys Social Sciences Prize
Esther Duflo awarded Infosys Social Sciences Prize
The Infosys Prize 2014 in Social Sciences was awarded to Professor Esther Duflo in recognition of her pioneering and prodigious contributions to development economics, with important implications for policies pertaining to the delivery of services to the poor.
James Poterba awarded Daniel M. Holland Medal
James Poterba awarded Daniel M. Holland Medal
Mitsui Professor of Economics, James Poterba, is the first MIT faculty member to receive the Daniel M. Holland Medal from the National Tax Association in honor of his outstanding contributions to the study and practice of public finance.
David Autor elected Fellow of Econometric Society
David Autor elected Fellow of Econometric Society
Professor David Autor has been elected a Fellow of the Econometric Society for his highly regarded contributions to Economics. The Econometric Society is an international society for the advancement of economic theory in its relation to statistics and mathematics.
Jean Tirole awarded Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Jean Tirole awarded Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2014 was awarded to Jean Tirole (Ph.D. '81 and Annual Visiting Professor of Economics at MIT) "for his analysis of market power and regulation".
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