Only her name was missing: Crediting women economists

This article was written by Karen Toulon and first appeared on the Bloomberg Terminal.

“They both did the work,” said Bloomberg’s Editor-in-Chief Emeritus Matthew Winkler, as he recalled events that led him to take action. “Only her name was missing.”

Winkler was talking about economists Angus Deaton and Anne Catherine Case. Both pursued groundbreaking work on development, health and microeconomics — work that won Deaton the Nobel Prize in economics in 2015 for expanding the understanding of economics to include broader measures of well-being, such as consumption, poverty and welfare.

Case was not recognized, despite both she and Deaton conducting shared research, penning several papers together, including their 2015 paper — of which Case is the lead author. That paper revealed the surprising increase in midlife mortality among white, non-Hispanic Americans. Even in the press coverage that followed, Case’s name was seldom mentioned.

“There are other examples of women economists being either completely overlooked or their contributions to the field being undervalued,” Winkler said. “And these are just the high-profile instances that we may notice.”

Knowing that Bloomberg could uniquely address this discrepancy at a global level, Winkler partnered with Bloomberg Senior Executive Editor for Economics Stephanie Flanders and the Bloomberg Women’s Community to highlight leading women economists through a series of panel discussions, allowing them to share their timely expertise with key Bloomberg stakeholders. Winkler is one of the executive sponsors of the Bloomberg Women’s Community, and the group’s worldwide connections proved to be invaluable during the curation of dynamic audiences in each city.

“With our global network of bureaus and labyrinth of deeply sourced reporters and analysts, Bloomberg has the ability to identify known and rising experts in the field of economics, and we have the skill to convene and lead insightful conversations,” said Flanders.

The first event in the series, coinciding with International Women’s Day, was called “The Rising Tide of Women Economists” and featured Catherine L Mann, Global Chief Economist CitiBank and Helene Rey, Lord Bagri Professor of Economics, London Business School. Mann was formerly the chief economist at the Organization for Economic Cooperation and Development and has 20-plus years of experience in Washington D.C. Her research focuses on global imbalances and the role of globalization in technology and services. Rey’s research hones in on the determinants and consequences of external trade and financial imbalances, the theory of financial crises and the organization of the international monetary system.

Three months later, Bloomberg’s London office hosted “Losing the Center: World Turned Upside Down as Tariffs Roil Markets & Trade” with panelists Janet Henry, Global Chief Economist at HSBC and Claire Lombardelli, Chief Economic Advisor, H.M Treasury.

“There is an argument that going forward, in a low-rate world, there will be a larger role for fiscal policy to play in macroeconomic stabilization,” said Claire Lombardelli.

“Next time around, if it is a severe downturn, I think absolutely central banks and governments will be working more closely together. Particularly in the US, the UK and Japan,” said Janet Henry, “but there will still be a role for central bank independence.”

The 2019 series ended in Singapore in October, with Selena Ling, Head, Treasury Research and Strategy, Global Treasury, OCBC Bank; Tuuli McCully, Head of Asia-Pacific Economics, Scotiabank; and Trinh Nguyn, Senior Economist, Emerging Asia, Natixis.

Ling leads a research team that is responsible for Treasury market research, forecasts and trading recommendations for the bank, covering fixed income, interest rates, corporate credit, foreign exchange and macroeconomic commentary. McCully brought her global perspective to her macroeconomic forecasts and fundamental analysis of the region, drawing from her experience in Asia, Europe and North America. Meanwhile, Nguyn delivered her forward looking and game-changing insights on fixed income, equity, and FX markets. Nguyn is unique in her ability to analyze comparative regional economic development at three levels simultaneously — locally, regionally, and globally.

Flanders and Winkler will continue these important discussions in new cities this year, including locations in the Middle East, Canada, Japan and South Africa.

“As we consider the challenges of the US presidential election, the next-steps in Brexit, global trade, the continuing social and economic pressures of climate change and the refugee crisis, and tensions in the Middle East, there will be no shortage of issues to discuss with some of the sharpest women economists around the world,” said Flanders.

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