Raj Chetty, a young Indo-American economist working at Harvard University has bagged the prestigious John Bates Clark Medal, often called the 'Baby Nobel'. His pioneering work was cited by US Prez Obama during last year's State of the Union Address.
Delhi-born Raj Chetty, a professor in the Department of Economics at Harvard University has won the medal for economists under 40, who make a significant contribution to economic thought and knowledge. The medal is widely regarded as one of the most prestigious awards, next only to the Nobel in economics.
33-year-old Chetty is the first Indian-origin person to win the prize. The citation says that Chetty is a remarkable economist whose contributions use a variety of methods to shed new light on important public policy questions. Chetty had completed his PhD from Harvard in 2003.
Among the previous winners are Paul Krugman, Paul Samuelson, Milton Friedman and Joseph Stiglitz - all Nobel laureates. The award is called the Baby Nobel, as every third winner of this award has gone on to bag the Nobel later.