RSF Author and Grantee David Card Awarded Nobel Prize in Economics

October 15, 2021

David Card (University of California, Berkeley) has been awarded the Nobel Memorial Prize in Economic Sciences for his empirical contributions to labor economics. He shares the prize with Joshua Angrist and Guido Imbens. Card is the co-editor of RSF books Immigration, Poverty, and Socioeconomic Inequality (with Rebecca M. Blank) and Finding Jobs: Work and Welfare Reform (with Steven Raphael). He contributed to RSF volume Working and Poor: How Economic and Policy Changes Are Affecting Low-Wage Workers and is an RSF grant recipient.

Card is best known for his 1994 groundbreaking study on the impact of increasing the minimum wage, conducted with former RSF trustee and visiting scholar, the late Alan Krueger. After an increase in the minimum wage in New Jersey, Card and Krueger compared employment at fast food restaurants in the state and neighboring Pennsylvania. They found that, contrary to traditional economic belief, raising the minimum wage did not result in job losses.

Card is Class of 1950 Professor of Economics at University of California, Berkeley and Director of the Labor Studies Program at the National Bureau of Economic Research. He is the co-author of Myth and Measurement: The New Economics of the Minimum Wage (1995), in which he and Krueger expounded on their 1994 study. He is the co-editor of Small Differences that Matter: Labor Markets and Income Maintenance in Canada and the United States (1992), The Handbook of Labor Economics (1999), and Seeking a Premier Economy: The Economic Effects of British Economic Reforms (2004). He was awarded the American Economic Association’s John Bates Clark Prize (1995) and the Frisch Medal by the Econometric Society (2007). He is the co-recipient of the IZA Labor Economics Award (2006) and the BBVA Frontiers of Knowledge Prize (2015).

Read the Nobel Prize in Economics announcement in The New York Times.

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