IZA Prize in Labor Economics
German prize
From Wikipedia, the free encyclopedia
The IZA Prize in Labor Economics (2002–2020) was a prestigious award in the field of labor economics. The Institute for the Study of Labor awarded a prize each year (from 2016 on every two years in turn with the IZA Young Labor Economist Award) for outstanding academic achievement in the field of labor economics.[1]
The IZA Prize in Labor Economics was the only international science prize awarded exclusively to labor economists was considered the most important award in labor economics worldwide.[2] The prize was awarded through a nomination process and decided upon by the IZA Prize Committee, which consisted of internationally renowned labor economists.
As a part of the prize, IZA Prize Laureates contributed a volume as an overview of their most significant findings to the IZA Prize in Labor Economics Series published by Oxford University Press.[2]
Funding and prize components
The IZA Prize in Labor Economics consisted of a prize medal and a cash award of 50,000 euros.[3] This provides the monetary support for the recipients' past and future research and is meant to stimulate further labor market research.
Nomination and selection process
IZA has a worldwide network of over 1,300 labor economists who collaborate as research fellows with the institute.[4] Each year they nominate candidates for the IZA Prize in Labor Economics from the research and work of their peers and colleagues. The nominations are reviewed by the IZA Prize Committee, which consists of IZA representatives, Research Fellows and prominent international labor economists.
IZA Prize Committee
Five Nobel laureates in Economics have served as members of the Prize Committee, George Akerlof, Gary Becker, James Heckman, Joseph Stiglitz and David Card.[5] The committee was coordinated by Daniel S. Hamermesh. Final members, besides Hamermesh were: Francine D. Blau (Cornell University), Richard Blundell (University College London), George Borjas (Harvard University), David Card (University of California, Berkeley), and Shelly Lundberg (University of California, Santa Barbara).[6]
IZA Prize in Labor Economics Series
As a part of the IZA Prize in Labor Economics from 2007 to 2019 each Laureate produced a volume for the IZA Prize in Labor Economics Book Series consisting of their most significant findings. The Series covers a broad range of important issues in labor economics. The series is published by Oxford University Press.[2][7]
IZA Prize Laureates
The winners of the IZA Prize include a number of influential labor economists who are active in policy advice. For example, Edward Lazear was Chairman of the Council of Economic Advisers under President George W. Bush. Alan Krueger was nominated for the same post by President Barack Obama.