Anja Sebbesen and Harald Oberhofer Receive WU Best Paper Award
The paper by the WIFO and WU research team empirically investigates the propagation of firm expectations within the EU. To this end, information from EU-wide official business surveys is combined with input-output data. Econometrically, we model interdependencies in economic activities via input-output linkages and apply space-time models with common factors. The resulting evidence provides indication for the existence of substantial spillover effects in expectation formation. They are transmitted both upstream and downstream the European value chain, but the latter channel matters more.
The WU Best Paper Award is one of the highest research honors at WU Vienna, awarded annually to only a few individuals or teams. An independent international jury, with external guidance, recognises the internationally outstanding research.
The award, funded by the Jubiläumsfonds of the City of Vienna for WU Vienna since 2000, is given in three categories. Since 2017, a fourth prize (New Research Avenues) has been awarded. This prize recognises, across the three categories, the paper that best explores new paths away from the mainstream or brings the discipline closer to previously separate research fields.
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