 | | S. J. Nickell | K. F. Zimmermann | R. Layard |
The IZA Prize Committee selected Richard Layard and Stephen J. Nickell to receive the 2008 IZA Prize in Labor Economics. The award honors their path-breaking work on the relationship between labor market institutions and unemployment. Their research provided a theoretical and empirical framework for the analysis of equilibrium unemployment and the impact of labor market institutions on economic performance. According to the award statement, the contributions of Layard and Nickell have illuminated the policy discourse in Europe and increased academics' understanding of the nature and causes of involuntary joblessness. Lord Richard Layard is Emeritus Professor of Economics at the London School of Economics (LSE) and a Labour life peer in the House of Lords. Stephen Nickell is Warden of Nuffield College, University of Oxford, and was previously a Professor of Economics at LSE and a member of the Bank of England Monetary Policy Committee. The IZA Prize Ceremony took place at the Petersberg Hill near Bonn on December 1, 2008, as part of IZA's 10th anniversary celebrations.
More information: IZA Press Statement | Award Statement
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