This year awarded a prize of 5,000 euros for the most outstanding journal article in the field of health, education, and welfare published in the e-journal.
We are proud to announce the winning contribution of the 2012 Prize:
“Uncertain Retirement and the Effects of Social Insurance on Savings, Wealth, and Welfare” by Neil Bruce and Stephen J. Turnovsky
In this paper the authors develop a tractable overlapping generations model based on the Blanchard finite horizon model. It provides a convenient framework to analyze the impact of social insurance policies on saving and consumption rates, the level of wealth and its distribution, both by workers and retirees, as well as the corresponding economy-wide aggregates. The model is also used to analyze welfare effects and to characterize optimal social insurance policies.
Neil Bruce is currently the Paul F. Glaser Professor of Economics at the University of Washington in Seattle. After completing his B.A. and M.A. in Canada, he earned his Ph.D. in Economics (1975) at the University of Chicago, where he studied Public Finance with Arnold C. Harberger. Bruce specializes in Public Finance, teaching courses to graduate and undergraduates, supervising numerous dissertations on the subject. He has published widely on taxation, public goods, social security and welfare in professional journals and books. In recent years, Bruce has collaborated with Professor Stephen J. Turnovsky in constructing computational demographic models of economic growth.
Stephen J. Turnovsky received his Ph.D. from Harvard University in 1968 and currently holds the Van Voorhis Professorship of Economics at the University of Washington. His main area of research is in the general area of macroeconomic dynamics and growth. Within this area his interests are quite far-ranging, with particular interests in fiscal policy issues and optimal policy, and extending to both closed economies and open economies. He is the author of several books, as well as having edited several volumes and written many journal articles.
Criteria for the prize were as follows:
- Scientific quality of the paper
- Use of innovative approaches and methods
- Innovative solutions to relevant problems in the field of health, education, and welfare
Nominated journal articles were ranked by a jury of highly qualified researchers.
Members of the jury were:
- Kate Bundorf, Associate Professor, Health Research & Policy - Health Services Research, Stanford University,
- Colm Harmon, Professor of Economics at the University College Dublin (UCD) and Director of the UCD Geary Institute
- Stefan Klasen, Professor of Economics at the University of Göttingen
- Dennis Snower, President of the Kiel Institute for the World Economy