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Nobel Laureate Center of Economics Conference

Leading economists, former students of Dale Mortensen to honor laureate at conference

April 6, 2011 | by Hilary Hurd Anyaso
EVANSTON, Ill. --- Leading labor economists from around the country will come together at a conference April 15 and 16 to honor Northwestern University’s Dale Mortensen, who, with fellow economists Peter Diamond and Christopher Pissarides, received the 2010 Nobel Prize for Economics.

Co-sponsored by Northwestern and the Federal Reserve Bank of Chicago, the conference will be held from 8:45 a.m. to 5:30 p.m. Friday, April 15, and from 9 a.m. to 12:30 p.m. Saturday, April 16, in the McCormick Auditorium, James L. Allen Center, 2169 Campus Drive, on Northwestern’s Evanston campus. It is free and open to the public, but registration is required. Visit the following link for more information regarding schedule and registration information: http://www.econ.northwestern.edu/seminars/mortensen-conference.html

The conference will include a number of Mortensen’s former students and is designed to encourage discussions between the presenters and the audience, which will include Mortensen. The event will conclude April 16 with two lectures and a panel discussion, titled “Macroeconomic Policy and Labor Markets: Lessons from Dale Mortensen’s Research,” moderated by Martin Eichenbaum, the Ethel and John Lindgren Professor of Economics at Northwestern. 

Mortensen, the Ida C. Cook Professor of Economics in the Judd A. and Marjorie Weinberg College of Arts and Sciences at Northwestern, and economists Diamond, of the Massachusetts Institute of Technology, and Pissarides, of the London School of Economics and Political Science in the United Kingdom, received the Nobel prize for “their analysis of markets with search frictions.”

The three developed a framework that seeks to explain why so many people remain unemployed at times when there are a large number of job openings. Their model helps explain the ways in which unemployment, job vacancies and wages are affected by regulation and economic policy and also can be applied to other areas, including the housing market.

On April 15, the conference will feature a half-dozen lectures, including “Competitive Equilibrium in Asset Markets with Adverse Selection” by economist Robert Shimer of the University of Chicago and “Diversifying the Faculty Across Gender Lines: Do Trustees and Administrators Matter?” by Cornell University economist Ronald Ehrenberg (Northwestern Ph.D., 1970).

Mortensen will not make a formal presentation, but on Saturday, April 16, he will speak at “A Day With Northwestern.” Sponsored by the Northwestern Alumni Association, the event runs from 9 a.m. to 3:30 p.m. at the Norris University Center on the Evanston campus. Visit the following link for more information regarding schedule and registration information for “A Day with Northwestern”: http://alumni.northwestern.edu/adwn.

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