Two of our Oxford Students Named Finalists for ECB Young Economist Prize

 

Update (2 July 2025): We are delighted to share that Alena Wabitsch has been announced as the winner of the 2025 ECB Young Economist Prize. Her paper, “The Messenger Matters”, was recognised for its innovation, rigour, and policy relevance at the ECB Forum on Central Banking in Sintra. Congratulations, Alena!

 

We’re delighted to share that two of our DPhil students, Alena Wabitsch and Lovisa Reiche, have been selected as finalists for the European Central Bank’s 2025 Young Economist Prize.

The prize recognises outstanding research by PhD students in economics and finance, with finalists invited to present their work at the ECB Forum on Central Banking in Sintra, Portugal later this month.

This year’s submissions centred on the Forum’s theme: “Adapting to change: macroeconomic shifts and policy responses”:

Researchers explored areas including labour-market transformations, the interplay of non-bank financial entities and liquidity, and heterogeneity in euro-area monetary transmission. The jury evaluated entries based on scientific ingenuity, policy relevance, and thematic alignment.

Alena’s paper, “The Messenger Matters”, investigates how messenger characteristics affect the reach and influence of policy communication on the public. Using big data, an experiment, and a model, she identifies the careful selection of messengers as a new and powerful policy tool for raising social welfare from public information.

Lovisa's paper "Beyond Groceries: Forecast Confidence and the Gender Gap in Inflation Expectations" shows empirically and within a learning model that exposure to volatile prices (e.g. groceries) affects inflation forecasts only when forecast confidence is low. This explains the gender gap and highlights a broader learning mechanism. Boosting confidence via financial literacy may lead to higher spending in response to inflation.

Looking ahead to Sintra

The ECB Forum brings together central bankers, academics, and policymakers to discuss the major economic and financial challenges facing Europe. As finalists, Alena and Lovisa will present their work to this audience, with the overall winner selected by a combination of forum participant votes and a jury decision. The prize includes a €10,000 award.

This achievement places Alena and Lovisa among Europe’s most promising economists, reflecting the academic strength of Oxford and highlighting the value of insights from early-career scholars in shaping central banking policy.