Frisch Medal Explained

The Frisch Medal is an award in economics given by the Econometric Society. It is awarded every two years for empirical or theoretical applied research published in Econometrica^[1] during the previous five years. The award was named in honor of Ragnar Frisch, first co-recipient of the Nobel prize in economics and editor of Econometrica from 1933 to 1954.^[2] In the opinion of Rich Jensen, Gilbert F. Schaefer Professor of Economics and chairperson of the Department of Economics of the University of Notre Dame, "The Frisch medal is not only one of the top three prizes in the field of economics, but also the most prestigious 'best article' award in the profession".^[3] Five Frisch medal winners have also won the Nobel Prize.

Winners

• 2022 – Giulia Brancaccio, Myrto Kalouptsidi, Theodore Papageorgiou for their paper, "Geography, Transportation, and Endogenous Trade Costs”, (Econometrica, Vol. 88, No. 2, March 2020, 657–691).
• 2020 – Kate Ho and Robin Lee for their paper, "Insurer Competition in Health Care Markets”, (Econometrica, Vol. 85, No. 2, March 2017, 379–417).
• 2018 – Gabriel M. Ahlfeldt, Stephen J. Redding, Daniel M. Sturm, and Nikolaus Wolf for The Economics of Density: Evidence from the Berlin Wall . Econometrica . 83 . 6 . 2015 . 2127–2189 . 10.3982/ECTA10876 . Ahlfeldt . Gabriel M. . Redding . Stephen J. . Sturm . Daniel M. . Wolf . Nikolaus . free .
• 2016 – Benjamin Handel, Igal Hendel, and Michael Whinston for Equilibria in Health Exchanges: Adverse Selection versus Reclassification Risk . Econometrica . 83 . 4 . 2015 . 1261–1313 . 10.3982/ecta12480. Handel . Ben . Hendel . Igal . Whinston . Michael D. . free .
• 2014 – Flávio Cunha, James Heckman, and Susanne Schennach for Estimating the Technology of Cognitive and Noncognitive Skill Formation . Econometrica . 78 . 3 . 883–931 . May 2010 . 10.3982/ECTA6551 . 20563300 . 10419/35965 . 2885826 . Cunha . F. . Heckman . J. . Schennach . S. . ^[4]
• 2012 – Joseph P. Kaboski and Robert M. Townsend for A Structural Evaluation of a Large-Scale Quasi-Experimental Microfinance Initiative . Econometrica . 79 . 5 . 1357–1406 . September 2011 . 10.3982/ECTA7079 . 22162594 . 3230229 . Kaboski . J. P. . Townsend . R. M. . ^[1]
• 2010 – Nicholas Bloom for The Impact of Uncertainty Shocks . Econometrica . 77 . 3 . 623–685 . May 2009 . 10.3982/ECTA6248 . 10.1.1.147.7528 . 8094691 .
• 2008 – David Card and Dean R. Hyslop for Estimating the Effects of a Time-Limited Earnings Subsidy for Welfare-Leavers . Econometrica . 73 . 6 . November 2005 . 1723–1770 . 10.1111/j.1468-0262.2005.00637.x . Card . David . Hyslop . Dean R. . 14819756 .
• 2006 – Fabien Postel-Vinay and Jean-Marc Robin for Equilibrium Wage Dispersion with Worker and Employer Heterogeneity . Econometrica . 70 . 6 . 2295–2350 . November 2002 . 3081988 . 10.1111/j.1468-0262.2002.00441.x. Postel-Vinay . Fabien . Robin . Jean-Marc .
• 2004 – Jonathan Eaton and Samuel Kortum for Technology, Geography, and Trade . Econometrica . 70 . 5 . September 2002 . 1741–1779 . 3082019 . 10.1111/1468-0262.00352. Eaton . Jonathan . Kortum . Samuel .
• 2002 – Ricardo J. Caballero and Eduardo Engel for Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S,s) Approach . Econometrica . 67 . July 1999 . 4 . 783–826 . 2999458 . 10.1111/1468-0262.00053. Caballero . Ricardo J. . Engel . Eduardo . 158174490 .
• 2000 – Richard Blundell, Alan S. Duncan, and Costas Meghir for Estimating Labor Supply Responses Using Tax Reforms . Econometrica . 66 . July 1998 . 4 . 827–861 . 2999575 . 10.2307/2999575. Blundell . Richard . Duncan . Alan . Meghir . Costas .
• 1998 – Robert M. Townsend for Risk and Insurance in Village India . Econometrica . 62 . May 1994 . 3 . 539–591 . 2951659 . 10.2307/2951659. Townsend . Robert M. . 153578326 .
• 1996 – Steven T. Berry for Estimation of a Model of Entry in the Airline Industry . Econometrica . 60 . July 1992 . 4 . 889–917 . 2951571 . 10.2307/2951571. Berry . Steven T. . 56198198 .
• 1994 – Larry G. Epstein and Stanley E. Zin for Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework . Econometrica . 57 . July 1989 . 4 . 937–969 . 1913778 . 10.2307/1913778. Epstein . Larry G. . Zin . Stanley E. . 34563159 .
• 1992 – John Rust for Optimal Replacement of GMC Bus Engines: An Empirical Model of Harold Zurcher . Econometrica . 55 . September 1987 . 5 . 999–1033 . 1911259 . 10.2307/1911259. Rust . John .
• 1990 – David M. Newbery for Road Damage Externalities and Road User Charges . Econometrica . 56 . March 1988 . 2 . 295–316 . 1911073 . 10.2307/1911073. Newbery . David M. .
• 1988 – Ariel Pakes for Patents as Options: Some Estimates of the Value of Holding European Patent Stocks . Econometrica . 54 . July 1986 . 4 . 755–784 . 1912835 . 10.2307/1912835. Pakes . Ariel .
• 1986 – Jeffrey A. Dubin and Daniel L. McFadden for An Econometric Analysis of Residential Electric Appliance Holdings and Consumption . Econometrica . 52 . March 1984 . 2 . 345–362 . 1911493 . 10.2307/1911493. Dubin . Jeffrey A. . McFadden . Daniel L. . 10.1.1.375.7547 .
• 1984 – Lars Peter Hansen and Kenneth J. Singleton for Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models . Econometrica . 50 . September 1982 . 5 . 1269–1286 . 1911486 . 10.2307/1911873. Hansen . Lars Peter . Singleton . Kenneth J. .
• 1982 – Orley Ashenfelter for Unemployment as Disequilibrium in a Model of Aggregate Labor Supply . Econometrica . 48 . April 1980 . 3 . 547–564 . 1913122 . 10.2307/1913122. Ashenfelter . Orley .
• 1980 – Jerry A. Hausman and David A. Wise for Attrition Bias in Experimental and Panel Data: The Gary Income Maintenance Experiment . Econometrica . 47 . March 1979 . 2 . 455–473 . 1914193 . 10.2307/1914193. Hausman . Jerry A. . Wise . David A. .
• 1978 – Angus S. Deaton for The Analysis of Consumer Demand in the United Kingdom, 1900–1970 . Econometrica . 42 . March 1974 . 2 . 341–367 . 1911983 . 10.2307/1911983. Deaton . Angus S. .

See also

• List of economics awards

External links

• Award page on the official site of the Econometric Society

Notes and References

1. News: MIT Professor Wins 2d Frisch Award. https://web.archive.org/web/20140714223958/http://www.highbeam.com/doc/1P2-33151084.html. dead. 14 July 2014. Reidy. Chris. 4 July 2012. Boston Globe . 8 June 2014.
2. Book: David A. Dieterle. Economic Thinkers: A Biographical Encyclopedia. 2013. Greenwood. 98. 9780313397479.
3. Web site: Economist Joseph Kaboski receives 2012 Frisch Medal . Kate Cohorst . July 11, 2012 . June 24, 2014.
4. Web site: Econometric Society awards Frisch Medal 2014 to James Heckman. 2 May 2014. University of Chicago. 8 June 2014. 14 July 2014. https://web.archive.org/web/20140714132805/https://socialsciences.uchicago.edu/announcement/econometric-society-awards-frisch-medal-2014-james-heckman. dead.