John Bates Clark Medal

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The John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge".[1] According to the Chronicle of Higher Education, it "is widely regarded as one of the field’s most prestigious awards, perhaps second only to the Nobel in economic science."[2] The award was made biennially until 2007, but is being awarded every year from 2009 because many deserving went unawarded.[3] The committee cited economists such as Edward Glaeser and John A. List in campaigning that the award should be annual. Named after the American economist John Bates Clark (1847–1938), it is considered one of the two most prestigious awards in the field of economics, along with the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. Following an average wait of 22 years, approximately 40% of past Medal winners have gone on to win the Bank of Sweden Prize in Economics, presented annually since 1969 at the Nobel Prize Award Ceremony in Stockholm. Moreover, 11 of the first 17 awardees (approximately 65%) went on to win the Nobel Prize Award.

Although the Clark medal is billed as a prize for "American" economists, it is sufficient that the candidates work in the US at the time of the award; US nationality is not necessary to be considered. Indeed, past winners such as Daron Acemoglu, Emmanuel Saez, and Esther Duflo were born in Turkey, Spain, and France, respectively.

Past recipients[edit]

Twelve Clark Medal winners have gone on to win the Nobel Prize.

Year Medalists[4] Institution Nationality
1947 Paul A. Samuelson Massachusetts Institute of Technology  United States
1949 Kenneth E. Boulding University of Michigan  United Kingdom
1951 Milton Friedman University of Chicago  United States
1953 No Award
1955 James Tobin Yale University  United States
1957 Kenneth J. Arrow Stanford University  United States
1959 Lawrence R. Klein University of Pennsylvania  United States
1961 Robert M. Solow Massachusetts Institute of Technology  United States
1963 Hendrik S. Houthakker Harvard University  Netherlands
1965 Zvi Griliches University of Chicago  Israel
1967 Gary S. Becker Columbia University  United States
1969 Marc Leon Nerlove Yale University  United States
1971 Dale W. Jorgenson Harvard University  United States
1973 Franklin M. Fisher Massachusetts Institute of Technology  United States
1975 Daniel McFadden University of California, Berkeley  United States
1977 Martin S. Feldstein Harvard University  United States
1979 Joseph E. Stiglitz Oxford University  United States
1981 A. Michael Spence Harvard University  United States
1983 James J. Heckman University of Chicago  United States
1985 Jerry A. Hausman Massachusetts Institute of Technology  United States
1987 Sanford J. Grossman Princeton University  United States
1989 David M. Kreps Stanford University  United States
1991 Paul R. Krugman Massachusetts Institute of Technology  United States
1993 Lawrence H. Summers Worldbank  United States
1995 David Card Princeton University  United States
1997 Kevin M. Murphy University of Chicago  United States
1999 Andrei Shleifer Harvard University  United States
2003 Steven Levitt University of Chicago  United States
2005 Daron Acemoğlu Massachusetts Institute of Technology  Turkey
2007 Susan C. Athey Massachusetts Institute of Technology  United States
2009 Emmanuel Saez University of California, Berkeley  France
2010 Esther Duflo Massachusetts Institute of Technology  France
2011 Jonathan Levin Stanford University  United States
2012 Amy Finkelstein Massachusetts Institute of Technology  United States
2013 Raj Chetty Harvard University  India
2014 Matthew Gentzkow University of Chicago  United States

See also[edit]


External links[edit]