The European Economic Association

Hicks-Tinbergen Award

In 1991 the EEA created a medal to be awarded once every two years (even years) to the author(s) of an outstanding article published in the Association’s Journal during the two preceding years. Until the end of 2002 this journal was the European Economic Review (EER). From January 2003 the article is chosen from the Journal of the European Economics Association (JEEA). It has been named the Hicks-Tinbergen medal to make it clear that the EEA stands for both theoretical and empirical work in economics in Europe. It was awarded for the first time in 1992 at the Dublin Congress. EEA members are invited to nominate papers for this Award.

The 2020 Award Winner

The Award Committee has awarded the Hicks-Tinbergen medal 2020 to Jose Asturias, Manuel García-Santana and Roberto Ramos for their paper Competition and the Welfare Gains from Transportation Infrastructure: Evidence from the Golden Quadrilateral of India (published in JEEA Volume 17 Issue 6).

This paper provides major new insights on how to measure the welfare gains from infrastructure projects, decomposing these gains arising through a standard Ricardian channel, from those arising from improvements in allocative efficiency and markups terms of trade. The model is taken to the data to assess the welfare impacts of the Golden Quadrilateral project in India. Starting in 2001, within five years this provided nearly 6000km of modern highway connecting four major metropolitan areas (Delhi, Mumbai, Chennai, and Calcutta). The quantitative trade model shows that the infrastructure project led to real income gains of 2.7%, with allocative efficiency accounting for 7.4% of the gains, with the remaining welfare gains being accounted for by changes in labor income, productive efficiency, and average markups impacting states' terms of trade. The paper elegantly combines theory with data to a highly policy relevant question, giving new emphasis to the role of firms and market power in determining gains and distributional consequences of large scale infrastructure investments.

The EEA warmly congratulates the winners.

The Hicks-Tinbergen award will be presented during the annual EEA Congress to be held in Rotterdam, Netherlands (to be held from Monday, August 24 to Thursday, August 27, 2020)

Hicks-Tinbergen Award Committee 2020 – Imran Rasul (Chair), Oriana Bandiera and Kjetil Storesletten

Please click here for past recipients.

Last update April 07, 2020
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