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Schloss Prize for Excellence in Economics

2018-2019 Recipient: Wei Long

Mr. Lawrence M. v. D. Schloss, 1976 graduate from Tulane University and member of the Board of Tulane, has endowed the Lawrence M. v. D.Schloss Prize for Excellence in Economics. “The Schloss Prize is to be offered to outstanding full professors, associate professors, or assistant professors, or graduate or undergraduate students, who do outstanding work in the Department of Economics.”

Mr. Schloss has had a distinguished career in the financial services industry. Following his 1976 graduation from Tulane, he earned an MBA from The Wharton School of The University of Pennsylvania in 1978. He then joined Donaldson, Lufkin & Jenrette (DLJ) in 1978 as an investment banker, and during his 22 years at DLJ rose to become Chairman of DLJ’s Merchant Banking Division. Upon the acquisition of DLJ by Credit Suisse in 2000, he became the Global Head of CSFB Private Equity. In 2010 he was appointed New York City's Deputy Comptroller for Pensions and the Chief Investment Officer and Trustee of the New York City pension funds, whose assets grew from $100 billion to $145 billion under his leadership. He was named 2012 CIO of The Year – Large Public Pension Funds by Institutional Investor.

The 2018-2019 recipient of the Lawrence M. v. D. Schloss Prize for Excellence in Economics is Wei Long for Excellence in Research. He will receive a cash award of $5000.

Wei Long is an assistant professor of economics in the Department of Economics at Tulane University, and he is the holder of the Kurzius Family Early Career Professorship in the Department. He received a B.A. in accounting from Renmin University in Beijing, China, an M.A. in statistics from Columbia University in New York, and his Ph.D. in economics from Texas A&M University. He has been at Tulane University since receiving his Ph.D. in 2015. His research focuses on developing statistical methods (a field called “Econometrics”) and then applying these methods to important policy issues like crime. His research has been published in leading journals in economics, including Econometric Theory, the Journal of Public Economics, Applied Economics, Empirical Economics, Economics Letters, and the Journal of Econometrics. Some of his current work examines the effects of “use-of-force” policing methods in Ferguson, Missouri.

Wei’s recent research accomplishments are truly outstanding. In just the last year, he has had published or accepted the following articles:

  • “Detecting Financial Data Dependent Structure in Averaging Mixture Copula” (with Guannan Liu, Xinyu Zhang, and Qi Li), forthcoming in Econometric Theory
  • “Improving Public Services: Evidence from the French Quarter Task Force” (with Cheng Cheng), in Journal of Public Economics
  • “Does Longer Incarceration Deter or Incapacitate Crimes? Evidence from Truth-in-sentencing Reform”, in Applied Economics
  • “Do Parole Abolition and Truth-in-sentencing Deter Violent Crimes in Virginia? (with Qi Li), in Empirical Economics.

Wei has also been very successful in generating support for his research, including the Carol Lavin Bernick Faculty Grant and several COR Faculty International Travel Grants.

More details on Wei’s activities can be found on his Department of Economics website, at https://liberalarts.tulane.edu/departments/economics/people/wei-long.

The Department of Economics selection committee (Patrick Button, Nora Lustig, Jon Pritchett, and James Alm) was unanimous in recommending that Wei be the 2018-2019 recipient of the Lawrence M. v. D. Schloss Prize for Excellence in Economics.

The Department of Economics is very grateful to Mr. Schloss for his generous and ongoing support, which has made possible the recognition of Nora’s accomplishments. Previous Schloss Prize winners are Marco Castaneda (2009), Jay Shimshack (2010), Stefano Barbieri (2011), Keith Finlay and Douglas Nelson (2012), Alan Barreca and Jon Pritchett (2013), Doug Harris (2014), Sean Higgins (2014), James Alm (2015), Nora Lustig (2016), Jon Pritchett (2017), and Patrick Button and Ali Enami (2018-2019).