Every year, the American Economic Association selects articles from each American Economic Journal (AEJ) for a Best Paper Award. UMD Assistant Professor Thomas Drechsel's paper "Earnings-Based Borrowing Constraints and Macroeconomic Fluctuations" was awarded this year's AEJ Macroeconomics Award. Congratulations!

The full paper is available here: https://www.aeaweb.org/articles?id=10.1257/mac.20210099

More information about the award can be found here: https://www.aeaweb.org/about-aea/honors-awards/aej-best-papers