For immediate release

Berkeley Electronic Press Announces Arrow Prize for Junior Economists Winner, New Award for Senior Economists

The Berkeley Electronic Press is pleased to announce the recipient of the inaugural Kenneth Arrow Prize for Junior Economists:

Ricardo Reis, for "Where Is the Natural Rate? Rational Policy Mistakes and Persistent Deviations of Inflation from Target." Advances in Macroeconomics: Vol. 3: No. 1, Article 1.

One paper published in the Berkeley Electronic Press economics journals (see for a complete list) by a junior faculty member, or an economist six or fewer years from the Ph.D., is selected annually as making an outstanding contribution to economics. The Reis article was selected after careful consideration by the review committee, headed by Kyle Bagwell of Columbia, and joined by Chris Shannon of UC Berkeley, and John Leahy of NYU.

The Kenneth Arrow Prize for Junior Economists is named in honor of Kenneth J. Arrow, who shared the Nobel Prize in 1972 for his pioneering contributions to general equilibrium theory and welfare theory.

The Berkeley Electronic Press is equally pleased to announce the creation of The Kenneth Arrow Prize for Senior Economists. This award is given annually to the senior author(s) of the most outstanding article published by senior economists in The Berkeley Electronic Press economics journals. A senior economist is defined for purposes of this prize as professors with tenure or economists who do not have tenure or tenure track jobs, but who received their Ph.D. at least 6 years ago. Like the junior prize, the winner will receive an honorarium as well as recognition through an announcement to the Berkeley Electronic Press network of 25,000 economists. All published articles are automatically entered.

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