ZEW Awards Economic Research Paper - Uwe Böwer Receives the Heinz König Young Scholar Award

The Centre for European Economic Studies has awarded the Heinz König Young Scholar Award for the second time. This year, Uwe Böwer from the University of Munich received the research award for his paper "An Empirical Analysis of Stochastic Trends and Cycles in Central and Eastern Europe and the Euro Area".

The annual ZEW award comes with a prize money of 5,000 Euros and additionally includes the offer to do research at the ZEW for several months. This year, the prize is sponsored by the Fuchs Petrolub AG, Mannheim. The Heinz König Young Scholar Award is named after the ZEW founding director, Prof. Dr. Dr. h.c. Heinz König who died in 2002. The prize awards excellent empirical papers by young economists. The ZEW does not intend to add another prize to the wide range of awards for established researchers but prefers to sponsor young economists.

This year, Uwe Böwer from the University of Munich received the Heinz König Young Scholar Award. The economist was awarded for his survey regarding the connection between the growth in Eastern and Western European countries. In his empirical analysis Böwer applies modern methods of Time Series Econometrics. He shows to what extend the growth rates of the new EU member states and the candidate countries have approached those of the 15 member states of the former EU within the last ten years. Böwer's results point to a rather loose connection. In his lauditory speech, Hubertus Stärk, spokesman of the sponsor Fuchs Petrolub AG, praised the methodological sophistication and the relevance for economic policy of Böwer's work. The results are helpful regarding the impeding decisions on the introduction of the Euro in Eastern Europe. The work is an outstanding example for a profound analysis of one of the essential issues of European integration.

The Heinz König Young Scholar Award is awarded at the annual ZEW Summer Workshop taking place in Mannheim. The Summer Workshop's aim is to qualify young economists. A wide range of papers are submitted and the best are chosen in a hard-fought selection process. About 12 to 16 young economists from Germany and abroad are invited to Mannheim. There they can discuss their papers with other young economists as well as specially invited established researchers. The best submitted paper is awarded the Heinz König Young Scholar Award.