Isaiah Andrews

Last updated
Isaiah Smith Andrews
Born1986 (age 3738)
Nationality American
Education Yale University (BA)
Massachusetts Institute of Technology (PhD)
Academic career
FieldEconometrics
Institution Harvard University
Massachusetts Institute of Technology
Harvard Society of Fellows
Doctoral
advisor
Anna Mikusheva
Awards2020 MacArthur Fellow
2021 John Bates Clark Medal
Website https://scholar.harvard.edu/iandrews/

Isaiah Andrews (born 1986) is an American economist who is a professor of economics at the Massachusetts Institute of Technology and a research associate of the National Bureau of Economic Research. He is also a co-editor of the American Economic Review. [1] In 2018, The Economist named him one of the 8 "best young economists of the decade." [2] He was named a MacArthur Fellow in 2020 [3] and in 2021, the American Economic Association awarded him the John Bates Clark Medal. [4] [5]

Contents

Education and early life

Andrews grew up in Brookline, Massachusetts, the son of Yale-educated economists Marcellus Andrews and Cheryl Smith. [6] He graduated from Yale University in 2009 with a degree in math and economics [1] and completed a doctorate in economics at the Massachusetts Institute of Technology in 2014, where his dissertation advisor was Anna Mikusheva. [7]

Career

Andrews was the Silverman (1968) Family Career Assistant Professor and an Associate Professor at the Massachusetts Institute of Technology from 2016 to 2018, when he joined the faculty at Harvard. [3] In 2023, he returned to MIT as a Professor.

After his MacArthur win, Andrews, who is Black and gay, commented, “I hope that my getting this grant will help to demonstrate and show that there is room for success from a wide variety of folks in the economics profession.” [8]

He was elected a fellow of the Econometric Society in 2020. [9]

Research

Much of Andrew's research is in the field of econometrics, and concerns instrumental variables. Instrumental variables are variables that affect one part of a co-determined system without affecting another part of the same system. For this type of estimation to be effective, an instrumental variable must satisfy the relevance condition, that is, it must affect one part of the system, and it must satisfy the exclusion restriction, that is, it must not affect the other part of the system. Andrews' research concerns situations in which either the relevance condition or the exclusion restriction hold only weakly. Together with Mikusheva, he has studied the properties of weak instruments in estimating dynamic stochastic general equilibrium models and other economic models that employ nonlinear Generalized Method of Moments statistics models. They have proposed methods to more accurately test hypotheses and construct confidence intervals under these statistical conditions. Together with Gentzkow and Shapiro, he has developed a measure of the potential bias in estimators due to violations of the exclusion restriction (sensitivity). Together with Kasy, he has developed a method to correct for publication bias in replication studies and meta-analyses. [1]

Selected works

  • Andrews, Isaiah, Matthew Gentzkow, and Jesse M. Shapiro. "Measuring the sensitivity of parameter estimates to estimation moments." The Quarterly Journal of Economics 132, no. 4 (2017): 1553–1592.
  • Andrews, Isaiah, and Maximilian Kasy. "Identification of and correction for publication bias." American Economic Review 109, no. 8 (2019): 2766–94.
  • Andrews, Isaiah, James H. Stock, and Liyang Sun. "Weak instruments in instrumental variables regression: Theory and practice." Annual Review of Economics 11 (2019): 727–753.
  • Andrews, Isaiah, and Anna Mikusheva. "Maximum likelihood inference in weakly identified dynamic stochastic general equilibrium models." Quantitative Economics 6, no. 1 (2015): 123–152.
  • Andrews, Isaiah. "Conditional linear combination tests for weakly identified models." Econometrica 84, no. 6 (2016): 2155–2182.

Related Research Articles

<span class="mw-page-title-main">Econometrics</span> Empirical statistical testing of economic theories

Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference." An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships." Jan Tinbergen is one of the two founding fathers of econometrics. The other, Ragnar Frisch, also coined the term in the sense in which it is used today.

<span class="mw-page-title-main">Lawrence Klein</span> American economist

Lawrence Robert Klein was an American economist. For his work in creating computer models to forecast economic trends in the field of econometrics in the Department of Economics at the University of Pennsylvania, he was awarded the Nobel Memorial Prize in Economic Sciences in 1980 specifically "for the creation of econometric models and their application to the analysis of economic fluctuations and economic policies." Due to his efforts, such models have become widespread among economists. Harvard University professor Martin Feldstein told the Wall Street Journal that Klein "was the first to create the statistical models that embodied Keynesian economics," tools still used by the Federal Reserve Bank and other central banks.

<span class="mw-page-title-main">Richard Thaler</span> American economist

Richard H. Thaler is an American economist and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. In 2015, Thaler was president of the American Economic Association.

Jerry Allen Hausman is the John and Jennie S. MacDonald Professor of Economics at the Massachusetts Institute of Technology and a notable econometrician. He has published numerous influential papers in microeconometrics. Hausman is the recipient of several prestigious awards including the John Bates Clark Medal in 1985 and the Frisch Medal in 1980.

Hirsh Zvi Griliches was a Lithuanian-born economist at Harvard University. The works by Zvi Griliches mostly concerned the economics of technological change, including empirical studies of diffusion of innovations and the role of R & D, patents, and education. In 2023 he had 126 publication listed in Web of Science and a Hirsch index of 49, which places him into 2% of most productive economics professors in the USA.

Takeshi Amemiya is an economist specializing in econometrics and the economy of ancient Greece.

<span class="mw-page-title-main">Lars Peter Hansen</span> American economist

Lars Peter Hansen is an American economist. He is the David Rockefeller Distinguished Service Professor in Economics, Statistics, and the Booth School of Business, at the University of Chicago and a 2013 recipient of the Nobel Memorial Prize in Economics.

The Cowles Foundation for Research in Economics is an economic research institute at Yale University.

<span class="mw-page-title-main">Mainstream economics</span> Generally accepted economic schools of thought

Mainstream economics is the body of knowledge, theories, and models of economics, as taught by universities worldwide, that are generally accepted by economists as a basis for discussion. Also known as orthodox economics, it can be contrasted to heterodox economics, which encompasses various schools or approaches that are only accepted by a minority of economists.

Structural estimation is a technique for estimating deep "structural" parameters of theoretical economic models. The term is inherited from the simultaneous equations model. Structural estimation is extensively using the equations from the economics theory, and in this sense is contrasted with "reduced form estimation" and other nonstructural estimations that study the statistical relationships between the observed variables while utilizing the economics theory very lightly. The idea of combining statistical and economic models dates to mid-20th century and work of the Cowles Commission.

James Harold Stock is an American economist, professor of economics, and vice provost for climate and sustainability at Harvard University. He is co-author of Introduction to Econometrics, a leading undergraduate textbook, and co-editor of the Brookings Papers on Economic Activity. Stock served as a Chair of the Harvard Economics Department from 2007 to 2009 and as a member of President Obama's Council of Economic Advisers from 2013 to 2014.

<span class="mw-page-title-main">Jesse Shapiro</span> American economist (born circa 1979)

Jesse M. Shapiro is an American economist who has served as the George Gund Professor of Economics and Business Administration at Harvard University since 2022. He was previously the George S. and Nancy B. Parker Professor of Economics at Brown University from 2015 to 2019, and the Eastman Professor of Political Economy at Brown from 2019 to 2021. He received a MacArthur Fellowship in 2021.

Amy Nadya Finkelstein is an American economist who is a professor of economics at the Massachusetts Institute of Technology (MIT), the co-director and research associate of the Public Economics Program at the National Bureau of Economic Research, and the co-Scientific Director of J-PAL North America. She was awarded the 2012 John Bates Clark Medal for her contributions to economics. She was elected to the National Academy of Sciences and won a MacArthur "Genius" fellowship in 2018.

Matthew Gentzkow is an American economist and a professor of economics at Stanford University. Previously, he was the Richard O. Ryan Professor of Economics and Neubauer Family Faculty Fellow at the University of Chicago Booth School of Business. He was awarded the 2014 John Bates Clark Medal. He was elected a member of the National Academy of Sciences in 2022.

<span class="mw-page-title-main">Philip Green Wright</span> American economist

Philip Green Wright was an American economist who in 1928 first proposed the use of instrumental variables estimation as the earliest known solution to the identification problem in econometrics. In a book review published in 1915 he wrote one of the first explanations of the identification problem. His primary topic of applied research was tariff policy, and he wrote several books on the topic. He also wrote poetry, was a mentor to the poet and author Carl Sandburg, and published some of Sandburg's earliest works. Wright was the father of geneticist Sewall Wright.

Anna Mikusheva is the Edward A. Abdun-Nur (1924) Professor of Economics at Massachusetts Institute of Technology. She was the 2012 recipient of the Elaine Bennett Research Prize, a bi-annual prize that recognizes and celebrates research by a woman in the field of Economics, and was selected as a Sloan Research Fellow in 2013. She is a co-editor of the journal Econometric Theory.

<span class="mw-page-title-main">Emi Nakamura</span> American economist (born 1980)

Emi Nakamura is a Canadian-American economist. She is the Chancellor's Professor of Economics at University of California, Berkeley. Nakamura is a research associate and co-director of the Monetary Economics Program of the National Bureau of Economic Research, and a co-editor of the American Economic Review.

In economics, the credibility revolution was the movement towards improved reliability in empirical economics through a focus on the quality of research design and the use of more experimental and quasi experimental methods. Developing in the 1990s and early 2000s, this movement was aided by advances in theoretical econometric understanding, but was especially driven by research studies that focused on the use of clean and credible research designs.

Yingyao Hu 胡颖尧 is a Chinese American economist, the Krieger-Eisenhower professor of economics, and currently Vice Dean for Social Sciences, Krieger School of Arts & Sciences, Johns Hopkins University.

References

  1. 1 2 3 Mikusheva, Anna; Shapiro, Jesse M. (2022-02-01). "Isaiah Andrews, 2021 John Bates Clark Medalist". Journal of Economic Perspectives. 36 (1): 177–190. doi: 10.1257/jep.36.1.177 . hdl: 1721.1/145191 . ISSN   0895-3309.
  2. "Our pick of the decade's eight best young economists". The Economist. ISSN   0013-0613 . Retrieved 2020-10-07.
  3. 1 2 "Isaiah Andrews - MacArthur Foundation". www.macfound.org. Retrieved 2020-10-07.
  4. "Isaiah Andrews, Clark Medalist 2021". www.aeaweb.org. Retrieved 2021-04-20.
  5. Mikusheva, Anna; Shapiro, Jesse M. (2022). "Isaiah Andrews, 2021 John Bates Clark Medalist". Journal of Economic Perspectives. 36 (1): 177–190. doi: 10.1257/jep.36.1.177 . hdl: 1721.1/145191 . ISSN   0895-3309.
  6. "MacArthur 'Genius' Andrews Lauded for 'Ridiculous Smarts,' 'Ridiculous Amount of Kindness' | News | The Harvard Crimson". www.thecrimson.com. Retrieved 2020-12-02.
  7. "Isaiah Andrews named 2020 MacArthur fellow". Harvard Gazette. 2020-10-06. Retrieved 2020-10-07.
  8. "3 LGBTQ trailblazers among 2020 MacArthur 'genius grant' winners". NBC News. 8 October 2020. Retrieved 2020-10-09.
  9. "The Econometric Society Announces its 2020 Fellows | The Econometric Society". www.econometricsociety.org. Retrieved 2021-04-12.