Klaus Liebscher Award

Award offered to young economists from EU Member States and EU candidate countries for outstanding scientific papers dedicated to Economic and Monetary Union and European integration issues.

Call for papers

for the 2017 Award

The Klaus Liebscher Award was established in 2005 on the occasion of the 65th birthday of former OeNB Governor Klaus Liebscher, in recognition of his commitment to Austria’s participation in Economic and Monetary Union (EMU) and to European integration in general.

This award is offered for two outstanding (policy-oriented) scientific papers on Economic and Monetary Union and European integration issues written by young economists (born after February 12th, 1982) from EU Member States or EU candidate countries. The winners of the award receive EUR 10,000 each. They are expected to present their main findings at an Award Ceremony in May, 2017.

To qualify, papers must be written in English or German and must be submitted to the Oesterreichische Nationalbank by February 12th, 2017, at the latest. The chair of the panel of reviewers is Ewald Nowotny, Governor of the OeNB. If you wish to make a submission, please e-mail your paper to the Head of Economic Studies of the Oesterreichische Nationalbank, Martin Summer, cc: Beate Hofbauer, citing the reference “Klaus Liebscher Award 2017” in the subject line. For more details, please check the Conditions for Participation in our download area.

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


    • Filippo De Marco for his paper “Bank Lending and the European Sovereign Debt Crisis”
    • Jean-Marie A. Meier for his paper “Regulatory Integration of International Capital Markets”


    • Maria Coelho for her paper „Fiscal Stimulus in a Monetary Union: Evidence from Eurozone Regions“
    • Francois de Soyres for his paper „Trade and Interdependence in International Networks“


    • Anil Ari for his paper “Sovereign Risk and Bank Risk Taking”
    • Matteo Crosigniani for his paper “Why Are Banks Not Recapitalized During Crises”


    • Saleem Abubakr Bahaj for his paper “Systemic Sovereign Risk: Macroeconomic Implications in the Euro Area”
    • Claudia Steinwender for her paper “Information Frictions and the Law of One Price: ‘When the States and the Kingdom became United’”


    • Luca Fornaro for his paper “International Debt Deleveraging”
    • Jenny Simons and Justin Valasek for their paper “Efficient Fiscal Spending by Supranational Unions”


    • Harald Oberhofer for his paper “Firm Growth, European Industry Dynamics and Domestic Business Cycles”


    • Steffen Osterloh for his paper “Can Regional Transfers Buy Public Support? Evidence from EU Structural Policy”
    • Friederike Niepmann and Tim Schmidt-Eisenlohr for their paper “Bank Bailouts, International Linkages and Cooperation”


    • Zeno Enders, Philip Jung and Gernot J. Müller for their paper “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”