Young Economist Prize
ECB Forum on Central Banking
26-28 June 2023
Every year the European Central Bank (ECB) invites PhD students to participate in its Young Economist Prize. Finalists are invited to the ECB Forum on Central Banking, where they are given the unique opportunity to present their research and engage with policymakers and top academics from around the world.
The theme of the 2023 ECB Forum on Central Banking is “Macroeconomic stabilisation in a volatile inflation environment”. Accordingly, PhD students are invited to submit papers on this theme, including the following topics:
- monetary policy in the face of multiple supply shocks;
- assessing the costs of inflation;
- finding the right mix of fiscal and monetary policy in the context of high inflation;
- the scope for unconventional monetary policy and forward guidance during policy tightening;
- structural changes in the functioning of European and global energy markets, and their implications for the euro area macroeconomy;
- lessons from recent experiences in macroeconomic forecasting.
Papers on other topics relevant to euro area central banking (including monetary policy, new means of payment and payments infrastructures, the deepening of Economic and Monetary Union, the functioning of the euro area economy and financial system, financial stability, and banking regulation and supervision) will also be considered.
The selected finalists will have the opportunity to display the main findings of their research on the ECB’s website and during the Forum, where they will be able to hear from policymakers, top academics and market economists from around the world.
During the Forum, the finalists’ papers and research posters will be assessed by a jury of top academics and senior ECB staff members, taking into account votes cast by Forum participants. The winner will be announced by the President of the ECB during the Forum and will be awarded a prize of €10,000.
Who can participate?
Students who are currently enrolled in a PhD programme in economics or finance are invited to participate. The ECB is an inclusive institution that strives to reflect the diversity of the population it serves. Students are encouraged to apply irrespective of their age, disability, ethnicity, gender, gender identity, race, religious beliefs, sexual orientation or other characteristics.
Students currently employed by, or collaborating with, the ECB or a national central bank of the European System of Central Banks (ESCB) are not eligible to take part. Co-authors of eligible papers should either be students or have completed their PhD no more than three years ago. Former Young Economist Prize finalists (i.e., authors and co-authors whose papers were selected for previous editions of the competition and who on that basis were invited to attend the Forum) are not permitted to enter the competition again.
Participants and their work must comply with the professional, legal and ethical standards set forth in the European Code of Conduct for Research Integrity.
How to apply?
To enter the Young Economist Prize competition, please complete and submit your application – including your research paper and an up-to-date curriculum vitae (CV) – via this online submission form and ask your supervisor to send a recommendation letter to [email protected] no later than 23:59 CET on 13 February 2023. Please answer all the questions and provide all of the specified documents to ensure the validity of your application.
By submitting your application for the Young Economist Prize, you agree to comply with its rules. If you have any questions or require any further details, please send an email to [email protected].
How will the finalists be selected?
The ECB’s Directorate General Research and Directorate General Communications are responsible for organising the Young Economist Prize, under the auspices of the Forum’s Steering Committee. Competent ECB researchers will choose up to ten finalists to attend the Forum. They will assess the papers against three selection criteria: (i) innovative thinking and scientific merit, (ii) relevance for ECB/euro area policies, and (iii) pertinence to the aforementioned topics, also taking into account the information provided in the CV and recommendation letter. In addition to these primary criteria, the ECB will strive for a balanced selection in terms of gender, universities represented, citizenship, theoretical versus empirical work and potentially other secondary criteria.
The selected finalists will be notified of their successful application and receive further information on the Forum by April 2023.
Please use the following naming conventions:
“EFCB 2023_Firstname Lastname_CV”
“EFCB 2023_Firstname Lastname_Paper”