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Clark Medal Winner Itskhoki Says War Is Greater Economic Risk Than Covid

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Born in Russia, the 39-year-old UCLA economics professor says it’s “easy to imagine we might be at a structural break point.”

Oleg Itskhoki, a Russian-born economics professor at the University of California at Los Angeles, joined an elite club when he won this year’s John Bates Clark Medal . The award is given each year to an economist under the age of 40 working in the US and making “the most significant contribution to economic thought and knowledge.” Past winners include former US Treasury Secretary Lawrence Summers and Nobel laureates Paul Krugman and Milton Friedman. In granting the prize to Itskhoki, the American Economic Association cited his “fundamental contributions” to the study of international finance and trade. Itskhoki, 39, spoke with Bloomberg Markets in late June about the potential economic damage from Russia’s invasion of Ukraine, his research on what really drives exchange rates, and his role in Princeton’s tennis program. The interview has been edited for length and clarity. Itskhoki in July RICH MILLER : Congratulations on your John Bates Clark award. What made you go into economics?

OLEG ITSKHOKI : I was born at the end of the Soviet Union. My parents and grandparents were physicists, which was […]

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