CEPR/ESI 9th Annual Conference 2005 prize
Research undertaken by Juha Kilponen Ph.D. and Antti Ripatti Ph.D. (Pol.), economists at the Bank of Finland, has been selected to receive the CEPR/ESI Prize 2005 for the best Central Bank Research Paper on the occasion of the Centre for Economic Policy Research and European Summer Institute's Annual Conference, held in Frankfurt 9–10 September 2005. The research paper chosen by the selection committee is the paper entitled "Labour and Product Market Reforms in General Equilibrium – Simulation Results using a DSGE Model of the Finnish Economy". The joint paper examines the response of the economy to the increased competition in labour and product markets.
The theme of the CEPR/ESI Conference was structural reforms and economic growth in Europe. In all, three papers, selected by a screening committee of programme directors from the papers submitted by central bank economists and nominated for the CEPR/ESI Prize 2005, were presented at the conference. A more concise version of the paper was published in the Bank of Finland Bulletin 1/2005. The paper was released as under the Bank of Finland's Discussion Paper Series in 2006.
Juha Kilponen – Antti Ripatti:
Labour and product market competition in a small open economy – Simulation results using a DGE model of the Finnish economy
Bank of Finland Discussion Paper 5/2006
Iddo Sarnat Annual Memorial Award 2005
Esa Jokivuolle Ph.D. Research Supervisor at the Bank of Finland and Samu Peura Ph.D. (Pol.), of Sampo Bank, conferred the Iddo Sarnat award for their research "Simulation based stress tests of banks' regulatory capital adequacy" (JBF, Vol. 28, Issue 8/2004, s. 1801–1824). The award was given by the Journal of Banking and Finance, internationally renowned in banking research. The Journal, whose purpose is to improve communication between and within the academic, research communities and members of the banking and financial institutions markets, gave the prize for the most outstanding research published in the Journal in 2004. The Iddo Sarnat Annual Memorial Award 2005 was conferred for their research paper on the application of simulation tests for the determination of banks' new regulatory capital adequacy. The joint research has been published under the Bank of Finland's Discussion Paper Series.
Samu Peura – Esa Jokivuolle:
Simulation-based stress testing of banks' regulatory capital adequacy
Bank of Finland Discussion Paper 4/2003