Mongey awarded 2026 Frisch Medal

Monetary Advisor Simon Mongey was awarded the 2026 Frisch Medal along with co-authors Adrien Bilal (Stanford University), Niklas Engbom (New York University), and Giovanni Violante (Princeton University) for their paper "Firm and Worker Dynamics in a Frictional Labor Market."

The Frisch Medal is presented by The Econometric Society every other year. A panel of judges awards the authors of the best applied paper published in Econometrica in any of the previous four calendar years.

The paper's model combines firm dynamics and frictional labor markets to address questions about the efficiency costs of labor market frictions and the role of firm entry in sustaining the job ladder.

Mongey's broader body of research focuses on macroeconomics, labor economics, and market structure. In addition to being a monetary advisor at the Federal Reserve Bank of Minneapolis, he is also a faculty research fellow with the National Bureau of Economic Research.

He received a B.A. from the University of Melbourne and a Ph.D. from New York University.

The Federal Reserve Bank of Minneapolis is one of 12 regional Reserve Banks that, with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the nation's central bank. The Federal Reserve Bank of Minneapolis is responsible for the Ninth Federal Reserve District, which includes Montana, North and South Dakota, Minnesota, northwestern Wisconsin, and the Upper Peninsula of Michigan. The Federal Reserve Bank of Minneapolis participates in setting national monetary policy, supervises numerous banking organizations, and provides a variety of payments services to financial institutions and the U.S. government.