ZEW Researchers Receive Sakip Sabanci International Research Award 2012

The ZEW Study "The Effectiveness of Countercyclical Fiscal Policy in Turkey During the Recent Economic Crisis - Evidence from a Natural Experiment" received the Sakip Sabanci International Research Award 2012. The authors of the paper, ZEW Researchers Florian Misch, PhD, and Dr. Atilim Seymen, received the award, which includes an endowment of 20,000 USD, during a ceremony in Istanbul in June 2012. The topic of the 2012 competition was "Performance of the Turkish Economy during Global Crises". Using an innovative statistical approach, the awarded paper analyses the effects of a temporary consumption tax cut, implemented by the Turkish government during the 2009 global economic crisis, on firm sales. The research findings show positive effects of consumption tax cuts on firm sales. This is consistent with predictions of the theory, thereby providing new evidence on the effects of a specific countercyclical fiscal measure.