The European Economic Association

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Birgit Grodal Award

The EEA Council, in its meeting in Glasgow 2010, agreed unanimously to institute a prize to a European-based female economist who has made a significant contribution to the Economics profession. In October 2011, after having spent over 12 months working on the particulars of the award, the EEA President, Christopher Pissarides officially announced the award. 

The award is to be named after Birgit Grodal, who was the first female elected President of the EEA, but sadly passed away before she was due to take up her presidency. The Birgit Grodal Award is bestowed every even year and the first three editions are sponsored by the Danmarks Nationalbank. The winner of the Birgit Grodal Award receives €10 000.

The selection committee, composed of five members, asks all EEA members for nominations. The Committee then discusses the nominations put forward by EEA members and makes a shortlist. In Spring of each year in which the award is given, the Committee proposes one candidates for the award to the EEA Executive Committee. The selection committee also informs the EEA Executive Committee of how the decision was reached, the motivation for the nominated candidates, as well as a list of any other candidates that were considered during the last stages of the process as potential winners of the award. The EEA Executive Committee then endorses the proposal of award winner. If for some reason the proposed winner is not endorsed, the EEA Executive Committee asks the selection committee to reconsider its proposal. The winner is announced immediately after the endorsement. The announcement is posted on EEA website.

The 2016 Birgit Grodal Award Committee is composed of Guido Tabellini (Chair), Timothy Besley, Penelopi Goldberg, Monika Piazzesi and Christian Schultz. 

The 2016 Birgit Grodal Award Winner

The EEA is delighted to announce that Lucrezia Reichlin of London Business School has won the 2016 Birgit Grodal Award.

Lucrezia Reichlin is a leading scholar in econometric methods and empirical macroeconomics. She has developed influential methods for applied time series analysis that extract information from many economic time series. The “large n” dynamic factor model has become a key tool for business cycle forecasting and the characterization of business cycles. Prior empirical research had studied business cycles by investigating the behavior of a handful of economic time series, such as inflation, interest rates, employment and output. The methods developed by Lucrezia Reichlin allow researchers to characterize the time series variation of a much larger number of series - including, for example, series by industrial sector or by geographic region - by extracting a few factors and estimating their joint dynamics. These methods have become important tools for academic research on macroeconomic modeling, as well as for policy makers and market practitioners. Her work reflects an impressive mix of scientific rigor with real world and policy relevance. Lucrezia Reichlin also influenced economics in Europe outside of academia, particularly through her role as Director of Research at the European Central Bank.

The EEA is pleased to be rewarding such a talented individual and the Association warmly congratulates the winner.

Lucrezia will be presented with her award during the annual EEA-ESEM Congress held between Monday August 22 and Friday August 26 in Geneva, Switzerland.

For more information on Lucrezia's work, please visit here.


Past receipients of this award are:

2012: Hélène Rey

2014: Rachel Griffith

Last update March 15, 2016
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