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German Bundesbank awards Carl Menger Prize

September 24, 2014 in Economics

By Jeff Deist

DB prize

Regardless of the merits or demerits of Mme Rey, Can you imagine the US Fed awarding a prize named for an Austrian economist?

French economist Hélène Rey has received the Carl Menger Prize for Economics, which this year was awarded for the first time. Andreas Dombret, member of the Executive Board of the Deutsche Bundesbank, presented her with the award, which carries prize money of €20,000, at the annual meeting of the Verein für Socialpolitik in Hamburg. “Hélène Rey’s research has substantially advanced the academic discussion; it has also found its way into the concrete work of central banks,” Mr Dombret said during the award ceremony. The job of economics, he continued, is to explain economic interrelationships and to use these explanations as a basis for making economic policy designed to increase public welfare.

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