Waikato University economics graduate Leo Krippner has been awarded this year’s Central Banking’s award for economics.
Central Banking Publications gives the award annually to a person who makes “the most significant contribution to economics within the field of central banking”.
Dr Krippner is a senior adviser in the economics department at the Reserve Bank of New Zealand and has led the debate on how central bank economists should think about unconventional monetary policy, through his work on term structure modelling. "It was an idea I had when I was doing my PhD thesis at Waikato on term structure modelling," he says, “and I developed it after interest rates in many global economies became constrained near zero.”
He says his subject is a fascinating and highly relevant area of economics to be involved in, given the global environment and its influence on the New Zealand economy. “This recognition is a welcome bonus, and humbling at the same time, given the list of past winners.”
Sandra Eickmeier, an economist at the Deutsche Bundesbank who has co-authored research with Dr Krippner, says his ideas are becoming widely adopted. "Krippner's measures are now in the toolbox of most central banks since the global financial crisis and serve to directly inform policymakers.”