Indian-origin Abhijit Banerjee, wife Esther Duflo awarded Nobel Prize for Economics

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Fifty-eight-year-old Banerjee was born in 1961. He studied in Calcutta University and Jawaharlal Nehru University and then did a PhD from Harvard in 1988.

Abhijit Banerjee is the author of four books that includes Poor Economics, for which he won the Financial Times and Goldman Sachs Business Book of the Year Award

 

 

Indian-American Abhijit Banerjee, his wife Esther Duflo and Michael Kremer were awarded the 2019 Nobel Economics Prize on Monday for their approach to alleviate global poverty.

Fifty-eight-year-old Banerjee was born in 1961. He studied in Calcutta University’s Presidency College and Jawaharlal Nehru University and then did a PhD from Harvard in 1988.

Duflo, 46, is the second woman to win the economics prize after Elinor Ostrom got it in 2009, and is also the youngest ever to receive the economics award. She is married to Abhijit Banerjee.

“The research conducted by this year’s Laureates has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research,” said the Nobel committee in a statement.

 

Banerjee founded the Abdul Latif Jameel Poverty Action Lab (J-PAL) in 2003, along with Duflo and Sendhil Mullainathan. J-PAL is a global research centre based in Massachusetts.

Banerjee is a fellow of the American Academy of Arts and Sciences and the Econometric Society and winner of the Infosys prize. His articles on economics often appear in major news publications across the article. He was a former columnist of Hindustan Times.

Banerjee is the author of four books that includes Poor Economics, for which he won the Financial Times and Goldman Sachs Business Book of the Year Award in 2011. The book has been translated into more than 17 languages.

Wishes started pouring in with the news of Banerjee winning the Nobel prize in economics.

 

Both Abhijit Banerjee and Esther Duflo work at Massachusetts Institute of Technology while Kremer is at Harvard University. Duflo is also the Editor of the American Economic Review, a member of the National Academy of Sciences and a Corresponding Fellow of the British Academy. Kremer, 54, is a development economist, who is currently the Gates Professor of Developing Societies at Harvard University.

The Royal Swedish Academy of Sciences said that due to the studies of Banerjee, Duflo and Kremer more than five million Indian children have benefitted from effective programmes of remedial tutoring in schools.

The Nobel prize in economics prize includes 9 million-kronor (USD 918,000) cash, a gold medal and a diploma. The winners will equally share the prize money.

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Esther Duflo and Michael Kremer also share the Nobel for their experimental approach to alleviating global poverty

The 2019 Nobel Prize for economics goes to Abhijit Banerjee, Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty”, the Royal Swedish Academy of Sciences announced on Monday.

The research conducted by the 2019 Economic Sciences Laureates has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research.

Over 700 million people still subsist on extremely low incomes. Every year, five million children still die before their fifth birthday, often from diseases that could be prevented or cured with relatively cheap and simple treatments.

This year’s Laureates have introduced a new approach to obtaining reliable answers about the best ways to fight global poverty. It divides this issue into smaller, more manageable lines of enquiry like, for example, formulating the most effective interventions for improving child health, said a statement from the Nobel Committee.

In the mid-1990s, Mr. Kremer and his colleagues demonstrated how powerful an experiment-based approach can be by using field experiments to test a range of interventions that could improve school results in western Kenya.

Mr. Banerjee and Ms. Duflo, often with Mr. Kremer, soon performed similar studies of other issues and in other countries, including India. Their experimental research methods now entirely dominate development economics.

The 2019 Economic Sciences Laureates’ research findings have dramatically improved our ability to fight poverty in practice. As a result of one of their studies, more than five million Indian children have benefitted from programmes of remedial tutoring in schools, the statement said.

The prize, officially known as the ‘Bank of Sweden Prize in Economic Sciences In Memory Of Alfred Nobel’, wasn’t created by the prize founder, but it is considered to be part of the Nobel stable of awards.

The prize was created by Riksbanken, the Swedish central bank, in 1968, and the first winner was selected a year later. So far, 81 Nobel laureates in economic sciences have been awarded.

Along with the glory comes a 9-million-kronor ($918,000) cash award, a gold medal and a diploma.

Last week, six Nobel prizes were awarded, for medicine, physics, chemistry, two literature awards, and the coveted Peace Prize.

All awardees but the Peace Prize–winner will receive their awards on December 10, the anniversary of Nobel’s death in 1896 in Stockholm. The winner of the Peace Prize receives the award in Oslo, Norway.

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Abhijit Banerjee: The Nobel laureate who warned India of note ban pain

Banerjee was also one of the advisors to Congress on its ambitious NYAY scheme, proposed ahead of 2019 polls.

 

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Second Nobel for Poverty Alleviation 

 in 5 years 

Developmental Economics 

 

[Paidithalli]

He’s the reason behind inc nyay scheme 

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Duflo is his wife and shares it with her husband Banerjee. 😐

 

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16 minutes ago, Paidithalli said:

He’s the reason behind inc nyay scheme 

Bhakth gallaki innalu teliyadu ippudu telisindi Officially ika eedini troll or target cheyyatam modhaledataaru 

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1 hour ago, Kool_SRG said:

Vallu India lo undi Noble prize techukunte thopu kani.... Parayi desam lo undi manam sankalu gudhukovadam thappa... Vallaki emi undadhu.... 

Na drustilo only Mukesh ambani is the real Nobel winner as a ring leader of the country