CEPR Network on Household Finance PhD Prize Winner October 2017

Tuesday, October 17, 2017

Watch the prize-winner video below:


The CEPR Network on Household Finance launched in April 2017 a prize for the best student paper in household finance presented at a network conference or workshop. The purpose of the prize is to recognise academic excellence and potential of young researchers engaged in household finance, as well as their contribution to the field at an early career stage. In order for a paper to be eligible for the prize, it has to be single-authored and part of the submitter’s PhD dissertation.

The Steering Committee of the CEPR Household Finance Network reviews all papers presented at its workshop or conference that were written exclusively by current PhD students. It ranks the papers, after they have been presented, according to originality, quality of research execution, and contribution to knowledge in the field. With this recognition, the CEPR HF Network aims at identifying particularly promising emerging scholars in household finance.

The prize is sponsored by the Think Forward Initiative (TFI) which is a collaboration between ING, Dell EMC, Dimension Data, Deloitte and CEPR devoted to finding ways of helping people to make better financial decisions. It is an open-source multi-disciplinary movement bringing together experts representing academia, governments, consumers, and the business world.

The prize was awarded for the second time at the CEPR Network’s European Conference in Household Finance in Sardinia, Italy on October 6, 2017.

PhD Prize Winner October 2017

Julio Galvez from the Center for Monetary and Financial Studies (CEMFI) in Madrid was awarded the prize. His paper was titled “Household portfolio choices and nonlinear income risk”. The Steering Committee was particularly impressed by the development of new insights into the effect of income risk on portfolio choice and stock market participation, as well as by the use of state-of-the-art methods in panel data econometrics. The winning paper was selected by the CEPR HF Network Steering Committee from an outstanding set of papers.


ING Group Chief Economist Mark Cliffe commented: “The Think Forward Initiative is delighted to support the CEPR’s European Workshop on Household Finance, which showcases cutting-edge research on household decision-making. This is a clear example of how the TFI is supporting thought leadership which will help to make a real difference to people’s lives”.

He added “I’m pleased to say that the  TFI partnership is continuing to grow. In addition to ING, the TFI now includes Centre for Economic Policy Research (CEPR), Dell EMC, Deloitte and Dimension Data, as well as an international network of over 500 academics, policymakers and industry experts. We look forward to developing and applying deeper insights into household decision making.”

A series of research projects have already been initiated by TFI with a view to developing original insights about financial decision-making, and applying them to create solutions to help households in relevant and timely ways. A call for Responses to a Research Challenge has recently been issued, with a view to applying insights from academic research to tools that promote awareness and better financial behaviour among customers. TFI is also raising public awareness with high profile international events.