Wednesday, October 05, 2005

Economics News

News about the discipline, that is:
  • Columbia Economics is making a push for the top eight with ten new hires this year. I think it's much better to have eight top departments of roughly equal stature than five. It's also interesting because NYU recently made a similar push (including the hire of Tom Sargent), but Columbia is also in New York and is starting with a better department (Bhagwati, Stiglitz, Sachs). I find this kind of academic give and take incredibly entertaining...

    By the way, this bit at the end of the article:
    Consider the case of a recent Nobel Prize winner from the University of Chicago who has been actively pursued by Columbia. He is a brilliant researcher and, despite his age (he’s 61), continues to be one of the most prolific economists around. But, as one senior economist at a top-five school puts it, "He is one of those guys best appreciated from a distance—personally, he is very much a menace."
    refers to Jim Heckman. (Just do the math.)
  • Speaking of Nobel prizes, this year's is about to be awarded. The website claims that the decision will be released no earlier than October 10. Who will it be?


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