Robert Mundell Prize
The Canadian Economics Association is proud to introduce the Robert Mundell Prize to the "young" author or authors of the paper judged to be the best paper published in the Canadian Journal of Economics in the previous calendar year.
"Robert Mundell has established the foundation for the theory which dominates practical policy considerations of monetary and fiscal policy in open economies. His work on monetary dynamics and optimum currency areas has inspired generations of researchers. Although dating back several decades, Mundell's contributions remain outstanding and constitute the core of teaching in international macroeconomics.
"Mundell's research has had such a far-reaching and lasting impact because it combines formal - but still accessible - analysis, intuitive interpretation and results with immediate policy applications. Above all, Mundell chose his problems with uncommon - almost prophetic - accuracy in terms of predicting the future development of international monetary arrangements and capital markets. Mundell's contributions serve as a superb reminder of the significance of basic research. At a given point in time academic achievements might appear rather esoteric; not long afterwards, however, they may take on great practical importance." (Press Release: The Sveriges Riksbank (Bank of Sweden) Prize in Economic Sciences in Memory of Alfred Nobel for 1999 - The Royal Swedish Academy of Sciences)
Robert Mundell, a most famous Canadian economist, was the obvious choice for this award. Some of his most influential work was published in the Candian Journal of Economics and Political Science between 1957 and 1963 when Professor Mundell was a "young" economist.
The prize, worth $3,000, was first awarded in 2004 for articles published in the years 2002 and 2003. In the future, the prize will be awarded annually. To be eligible all co-(co)authors must be non-tenured (or equivalent) in their respective institution. The Prize is awarded at the annual meetings of the Canadian Economics Association and is selected by a committee appointed under the authority of the executive council of the Association. The three members of the committee normally serve for three years each in overlapping terms.
The Robert Mundell Prize for last year's best article in the Canadian Journal of Economics by an early-career economist was awarded to Giordano Mion and Paolo Naticchioni for The Spatial Sorting and Matching of Skills and Firms, which appeared in the February 2009 issue of the Canadian Journal of Economics. Both Mion and Naticchioni teach at the Université Catholique de Louvain.
In this paper, the authors use a rich employer-employee matched dataset to examine spatial variation in wages. They find that sorting of workers with different skills across cities accounts for much of the spatial variation, reducing the potential importance of explanations such as agglomeration effects. This paper makes an important and interesting contribution to our understanding of geographic differences in labour markets.