Department of Economics

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Florian Dendorfer (photo by Adriano Macedo)

Florian Dendorfer, an assistant professor, teaching stream in the department of economics in the Faculty of Arts & Science, has won the Best PhD Thesis in Economics Prize from the University of St. Gallen in Switzerland.

Dendorfer's thesis featured theoretical and empirical work in industrial organization, exploring topics that included how quickly Airbnb guests learn about the qualities of new listings through reviews.

“Pursuing a PhD is a struggle: you start out small and grapple with doubts about whether your work is worthwhile," said Dendorfer, who currently teaches ECO204 (Microeconomic Theory and Applications) and ECO380 (Markets, Competition and Strategy) at ��TV. "Many attempts amount to nothing, and a lot of ideas end up in the trash. It’s incredibly rewarding to see all that work come to fruition and to have my thesis recognized by my alma mater with this prize."

“It’s always exciting when junior faculty members distinguish themselves and their research early on in their careers,” said Professor Ettore Damiano, chair of the department of economics. “All of us appreciate confirmation that we attract the world’s best and brightest to the University of Toronto and are very proud to have Florian here at the department.”

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Gordon Anderson honoured by International Association for Research in Income and Wealth

rahul.kalvapalle — Thu, 26 Sep 2024 19:01:41 +0000

Gordon Anderson honoured by International Association for Research in Income and Wealth

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rahul.kalvapalle Thu, 09/26/2024 - 15:01

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Gordon Anderson (supplied image)

Gordon Anderson, a professor emeritus in the department of economics in the Faculty of Arts & Science, has received the Kendrick Prize from the International Association for Research in Income and Wealth (IARIW).

The annual award recognizes a paper published in The Review of Income and Wealth during the previous calendar year.

Anderson was recognized for his paper, "Has Canada’s 21st Century Grand Gender Convergence Stalled? Male and Female Income and Human Resource Stock Distributions Viewed Through an Equal Opportunity Lens," which was published in December 2023.

“The prize means a great deal to me because gender differences are a particular focus of my recent and ongoing research on economic well-being, health and human resources,” said Anderson, who retired in 2018 after spending three decades teaching at both the St. George campus and ��TV Mississauga.

“Gordon Anderson is a remarkable example to young economists,” said Professor Ettore Damiano, chair of the department of economics. "He stays current and engaged with his field and continues to publish meaningful work while enjoying his children and grandchildren.

"I am very pleased to see the IARIW recognize his work and award him this honour.”

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Michael Baker, Derek Messacar and Mark Stabile win Doug Purvis Memorial Prize

rahul.kalvapalle — Tue, 16 Jul 2024 19:55:21 +0000

Michael Baker, Derek Messacar and Mark Stabile win Doug Purvis Memorial Prize

rahul.kalvapalle Tue, 07/16/2024 - 15:55

Munk School of Global Affairs & Public Policy

Rotman School of Management

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(L-R) Derek Messacar, Michael Baker and Mark Stabile (supplied images)

A research team led by Michael Baker, a professor in the department of economics in the Faculty of Arts & Science, has been awarded the Canadian Economics Association’s Doug Purvis Memorial Prize.

The annual award recognizes the authors of significant contributions to Canadian economic policy.

Baker shares the honour with Derek Messacar, doctoral alum of the department of economics and an associate professor at Memorial University of Newfoundland, and Mark Stabile, former faculty member at the Rotman School of Management and the founding director of what would become the Munk School of Global Affairs & Public Policy, who currently serves as a professor and dean of degree programmes and the Europe campus at INSEAD, a business school based in Fontainebleau, France.

The trio was recognized for their paper "Effects of Child Tax Benefits on Poverty and Labor Supply: Evidence from the Canada Child Benefit and Universal Child Care Benefit," which was published in the Journal of Labor Economics.

Baker said he was “honoured” by the recognition. “I knew Doug Purvis briefly at the start of my career and have learned what a positive contribution he made to the economics profession in Canada,” he said. “It is also a pleasure to share this award with a former colleague here at the department and a graduate of our PhD program. I have worked on many projects with both Mark and Derek over the years.”

“It’s gratifying for our department to see Michael, Mark and Derek recognized for their investigations into child poverty alleviation programs,” said Professor Ettore Damiano, chair of the department of economics. “It is very important work, and I am pleased to congratulate all the members of Michael’s team for this award.”

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Guangbin Hong wins Canadian Labour Economics Forum's Best Paper Prize

rahul.kalvapalle — Thu, 11 Jul 2024 15:18:55 +0000

Guangbin Hong wins Canadian Labour Economics Forum's Best Paper Prize

rahul.kalvapalle Thu, 07/11/2024 - 11:18

Students

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Guangbin Hong (photo by A. Macedo)

Guangbin Hong, a PhD candidate in the department of economics in the Faculty of Arts & Science, has been recognized with the Canadian Labour Economics Forum (CLEF)’s Best Paper Prize.

The award recognizes the best paper written by a Canadian student or recent graduate, and aims to support excellence in early-career research by young labour economists.

Hong’s paper, Two-Sided Sorting of Workers and Firms: Implications for Spatial Inequality and Welfare, explores how two-sided sorting affects spatial earnings inequality, efficiency and allocation of workers and firms across cities, as well as the welfare consequences of place-based policies.

“During his time here at the University of Toronto, Jeremy has made many interesting, thoughtful and helpful contributions that faculty, staff, and other students can all appreciate,” said Professor Ettore Damiano, chair of the department of economics.

“CLEF’s recognition of Jeremy’s accomplished job market paper is another sign that his instincts as a researcher are well-developed and attuned to the needs of policymakers, decision makers and their advisors. We are all proud to witness these early-stage successes as Jeremy starts his career.”

The prize completes a unique hat-trick of awards for Hong, whose paper was also recognized with the Bank of Canada's Graduate Student Paper Award and the European Economic Association and UniCredit Foundation Best Job Market Paper award.

Following his thesis defense this summer, Hong will spend the 2024-2025 academic year as a post-doctoral fellow at the University of Chicago, before joining Michigan State University as an assistant professor in August 2025.

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Michelle Alexopoulos, Diego Restuccia recognized by Bank of Canada

rahul.kalvapalle — Thu, 21 Mar 2024 15:03:03 +0000

Michelle Alexopoulos, Diego Restuccia recognized by Bank of Canada

rahul.kalvapalle Thu, 03/21/2024 - 11:03

Bank of Canada Fellowship

Bank of Canada

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Michelle Alexopoulos and Diego Restuccia (supplied images)

Professors Michelle Alexopoulos and Diego Restuccia from the department of economics in the Faculty of Arts & Science have been awarded the Bank of Canada’s Fellowship Award.

The award is given to academics in recognition of their expertise and research in areas important to the Bank of Canada’s core functions. Alexopoulos and Restuccia previously won the award in 2019.

Alexopoulos's research examines the effects of technological evolution and disruption on the economy and labour markets and includes the innovative use of library classification systems for data mining and text analysis. Restuccia, who holds a Canada Research Chair in Macroeconomics and Productivity, is an expert on the macroeconomic implications of policies that change and influence how resources like land, capital, and labour are distributed across firms.

“It is always an honour for the department of economics to see our faculty recognized for their outstanding achievements in research and their contributions to economics and its institutions,” said Professor Ettore Damiano, chair of the department. “Both Michelle and Diego are deserving of this recognition from the Bank of Canada and we are all thrilled to have two more reasons to celebrate them and the continuation of their work.”

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Tianyi Wang awarded 2023 John Charles Polanyi Prize in economic science

rahul.kalvapalle — Wed, 21 Feb 2024 19:10:27 +0000

Tianyi Wang awarded 2023 John Charles Polanyi Prize in economic science

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rahul.kalvapalle Wed, 02/21/2024 - 14:10

John Charles Polanyi Prize

Polanyi Prize

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Assistant Professor Tianyi Wang (courtesy of the Council of Ontario Universities)

Tianyi Wang, an assistant professor in the department of economics in the Faculty of Arts & Science, has been awarded the prestigious John Charles Polanyi Prize in economic science for 2023.

The provincial government awards the Polanyi Prize annually to early-career researchers from Ontario universities. Established in 1987, the award is named in honour of John Charles Polanyi, University Professor Emeritus in the department of chemistry and recipient of the 1986 Nobel Prize. The winners are nominated by the deans of university graduate schools across Ontario and chosen by a selection committee organized by the Ontario Council on Graduate Studies

An applied microeconomist, Wang works primarily at the intersection of political economy and economic history. His research addresses the critical analysis of press independence, political discourse, and the foundations of open dialogue in the context of historical political repression.

It does so by examining the quantitative impact of McCarthyism on American society and democracy, particularly through studies on the Hollywood blacklist, which affected hundreds of professionals in the entertainment industry.

Wang’s forthcoming projects investigate the effects of McCarthyism on targeted groups like the press, labor unions, and liberal politicians. For example, one project will examine how journalists were subpoenaed to testify about their political beliefs, and the impact on press independence and political discourse.

Gabriel Carroll appointed Fellow of the Econometric Society

lanthierj — Fri, 27 Oct 2023 15:03:01 +0000

Gabriel Carroll appointed Fellow of the Econometric Society

lanthierj Fri, 10/27/2023 - 11:03

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Gabriel Carroll (supplied Image)

Professor Gabriel Carroll of the department of economics in the Faculty of Arts & Science at the University of Toronto has been named a Fellow of the Econometric Society.

Founded in 1933, the Econometric Society publishes Econometrica and Theoretical Economics, both considered among the best research journals in the field.

“Truly international in nature and influence, the Econometric Society has done much to advance economic theory applied through statistical and mathematical models to help academics, policymakers and decision-makers better understand real world economic problems and highlight solutions,” Professor Ettore Damiano, chair of the department says. “The department of economics has a long history of faculty involvement with the Econometrics Society and the top-notch journals it publishes.

“We are proud to count Professor Carroll among its new fellows and extend our heartiest congratulations to Gabriel on this accomplishment.”

Carroll, whose research is in microeconomic theory with an interest in robustness and mechanism design, received the honour Oct. 10.

“The Econometric Society plays an essential role in the academic economics profession and serves every one of us. To be named a Fellow of the society is certainly an honour,” Carroll says, adding he hopes the award will help the department continue to hire talented researchers and attract strong students.

“��TV Economics is a diverse, energetic, and collegial group of scholars, and I hope I can do my small part to add to our international visibility.”

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Murat Alp Çelik and Liyan Yang recognized by Bank of Canada

lanthierj — Fri, 24 Mar 2023 14:57:01 +0000

Murat Alp Çelik and Liyan Yang recognized by Bank of Canada

lanthierj Fri, 03/24/2023 - 10:57

Rotman School of Management

Bank of Canada

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Murat Alp Çelik (L) and Liyan Yang (supplied photos)

Two University of Toronto faculty members are being recognized with awards from the Bank of Canada for their research and expertise in areas important to the bank’s core functions.

Liyan Yang, a professor of finance at the Rotman School of Management, has been honoured with the 2023 Bank of Canada Fellowship Award.

Yang, who holds the Peter L. Mitchelson/SIT Investment Associates Foundation Chair in Investment Strategy at the Rotman School, is an internationally acclaimed scholar with expertise in financial markets, institutions and behavioural finance. His research proposes a coherent framework – both theoretical and empirical – for understanding how investors interact in financial markets and their effect on regulatory policy and the overall welfare of the economy.

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Michael Stepner wins 2022 John Charles Polanyi Prize in economic science

lanthierj — Tue, 17 Jan 2023 16:27:20 +0000

Michael Stepner wins 2022 John Charles Polanyi Prize in economic science

lanthierj Tue, 01/17/2023 - 11:27

John Charles Polanyi Prize

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Michael Stepner, an assistant professor in the Faculty of Arts & Science’s department of economics, is the winner of the prestigious 2022 John Charles Polanyi Prize for his contributions to economic science.

The Polanyi Prize is awarded each year to as many as five researchers from an Ontario university in the early stages of their career. Given by the Ontario Council of Universities, it is named in honour of John Polanyi, a University Professor Emeritus in the department of chemistry and recipient of the 1986 Nobel Prize.

Stepner, who is also research principal at Harvard University’s Opportunity Insights lab, is an expert on the relationship between health and economic inequality. By analyzing available data, he focuses on how public policy can improve the health and financial security of low-income populations.

Stepner is one of three researchers from the Faculty of Arts & Science recognized with the prize in a year in which ��TV faculty took home all five awards.

The award is special, says Melanie Woodin, dean of the Faculty of Arts & Science, “because it recognizes individuals who are in the early stages of their careers, meaning we will be seeing exciting work from them for years to come.”

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Six Faculty of Arts & Science professors honoured for outstanding teaching

rahul.kalvapalle — Fri, 07 Aug 2020 13:06:08 +0000

Six Faculty of Arts & Science professors honoured for outstanding teaching

Teaching

rahul.kalvapalle Fri, 08/07/2020 - 09:06

Department of East Asian Studies