Karen Clay is the Teresa and H. John Heinz III Professor of Economics and Public Policy at Carnegie Mellon's Heinz College. She holds courtesy appointments at the Tepper School of Business and in the Department of Engineering and Public Policy, is a Senior Fellow at the Scott Institute for Energy Innovation at Carnegie Mellon, is an affiliated faculty member at the University of Pittsburgh, School of Law, and is a research associate at the National Bureau for Economic Research. She serves as co-editor in chief (with Ralf Meisenzahl, Federal Reserve Bank of Chicago) of Explorations in Economic History and is an associate editor at the Journal of Economic Perspectives. Professor Clay's research has been supported by the National Science Foundation, the Sloan Foundation, and the Heinz Endowments. Her work has been published in the Journal of Political Economy, Journal of Economic Literature, Review of Economics and Statistics, and American Economic Review, Papers and Proceedings. Before coming to Carnegie Mellon, Karen Clay was an assistant professor at the University of Toronto. She received her Ph.D. from Stanford University and her B.A. in Economics and Math from the University of Virginia.