“Why do some people earn much higher wages than others?”

Awarded the 7th Frontiers of Knowledge Award in Economics, Finance and Management, Canadian economist David Card explains how he uses natural experiments —such as the Mariel boatlift in Miami or minimum wage increases in certain states— to study the impact of immigration and labor policies. His research shows that raising the minimum wage does not significantly reduce employment, that education independently increases wages, and that wage differences can partly be explained by the type of company one works for.

The BBVA Foundation Frontiers of Knowledge Award in the Economics, Finance and Management category goes in this seventh edition to Richard Blundell and David Card for their contributions to empirical microeconomics. They developed and estimated appropriate econometric models, making significant methodological contributions in the process