Awards

On the occasion of the 65^th birthday of former OeNB-Governor Klaus Liebscher, and in recognition of his commitment to Austria’s participation in Economic and Monetary Union (EMU) and to the cause of European integration, the Oesterreichische Nationalbank (OeNB) established the Klaus Liebscher Award in 2005. This award is offered every year for two outstanding (policy-oriented) scientific papers on Economic and Monetary Union and European integration issues written by young economists (up to 35 years) from EU Member States or EU candidate countries. All authors of coauthored papers must fulfill all conditions for participation. The award grants EUR 10,000 per paper, and is announced at the OeNB’s annual Economic Conference. The winners are expected to present their main findings at this conference.

To qualify for competition, papers must be written in English or German and must be submitted to the Oesterreichische Nationalbank by January 17, 2011, at the latest. The chair of the panel of reviewers is Ewald Nowotny, Governor of the OeNB. Papers shall be e-mailed to the Head of Economic Studies of the Oesterreichische Nationalbank, Martin Summer, cc: Beate Hofbauer, and shall be identified as applications with the reference “Klaus Liebscher Award 2011” in the subject line.

For further information, please contact the Head of Economic Studies of the Oesterreichische National Bank, Martin Summer.

The following young economists have received a Klaus Liebscher Award since the Award’s inception:

• Zeno Enders, Philip Jung and Gernot J. Müller for their study „Has the Euro changed the Business Cycle?”

• Tarek Alexander Hassan for his paper “Country Size, Currency Unions, and International Asset Returns”

• Anton Korinek for his paper “Systemic Risk: Amplification Effects, Externalities, and Policy Responses”

• Kerstin Gerling for her paper “The Real Consequences of Financial Market Integration when Countries Are Heterogeneous”

• Silvia Rocha Akis and Aleksandra Riedl for their paper “Testing the Tax Competition Theory: How Elastic are National Tax Bases in Western Europe?”

• Harald Badinger for his paper “Has the EU’s Single Market Programme Fostered Competition? Testing for a Decrease in Markup Ratios in EU Industries”

• Gert Peersman for his paper “The Relative Importance of Symmetric and Asymmetric Shocks: The Case of United Kingdom and Euro Area”

• Petra Geraats for her paper “The Mystique of Central Bank Speak”

• Marek Jarocinski for his paper “Responses to Monetary Policy Shocks in the East and the West of Europe: A Comparison”

• Ester Faia for her paper “Financial Differences and Business Cycle, Co-Movements in a Currency Area”

• Federico Ravenna for his paper “The European Monetary Union as a Commitment Device for New EU Member States”