Following consultation with the Fellows, the Governance Committee agreed a Report that will be considered by the Executive Committee at its meeting of August 26-27, 2012.The final version of the proposals will be put to a vote: as stated in the Constitution, any change in governance must be approved by the Council and ratified by a two-thirds majority of the voting Fellows.
First awarded in 1978, the Frisch Medal is presented biennially for the best applied (empirical or theoretical) paper published in Econometrica during the previous five years. The purpose of the Frisch Medal is to encourage the submission to Econometrica of high quality empirical and applied work. The President appoints a committee to select the recipient for the award.
Following consultation with the Executive Committee, the 2011 President, Bengt Holmström, decided to set up a Governance Committee to review all aspects of the governance of the Society. The Committee is chaired by Oliver Hart (Harvard University), and the members are Tim Besley (London School of Economics), Hongbin Cai (Peking University), George Mailath (University of Pennsylvania), Rosa Matzkin (UCLA), and Enrique Sentana (CEMFI), with Rafael Repullo (CEMFI) acting as secretary, and Hyun Shin (Princeton University) as observer.
We are pleased to announce the election of 16 new Fellows of the Econometric Society.
We are pleased to announce the results of the 2011 Election of Officers and Council.
Manuel Arellano, CEMFI, has been elected Second Vice-President, and will be Vice-President in 2013, and President in 2014.
Rafael Repullo, CEMFI, will be Executive Vice-President until June 30, 2012. Hyun Song Shin, Princeton University, will be Executive Vice-President beginning July 1, 2012.
The following have been elected or reelected to the Council:
The next World Congress of the Econometric Society will take place in the summer of 2015 at a location to be decided by the Executive Committee in August 2012. Expressions of interest by potential local organizers are being solicited. The proposed venue should have a large auditorium for the plenary lectures(for about 1,000 participants), 3-4 large rooms for the parallel invited lectures (for about 300 participants each), and 30-32 smaller rooms for the parallel contributed sessions.
The 2011 Nobel Prize in Economics has been awarded to Thomas J. Sargent and Christopher A. Sims "for their empirical research on cause and effect in the macroeconomy." Sargent was elected Fellow in 1976 and was President in 2005, and Sims was elected Fellow in 1974 and was President in 1995.
We are pleased to announce the election of 16 new Fellows of the Econometric Society. Of the 456 Fellows eligible to vote, 343 Fellows participated in the Fellow election.