OREANDA-NEWS. November 12, 2014. The 2014 Eesti Pank research award of 2300 euros for doctoral studies went to Kristjan Liivamagi, Tonn Talpsepp and Tarvo Vaarmets for their work on investment behaviour. The master’s studies category research award of 1300 euros went to Magnus Piirits for his work on the pension system reforms and their intergenerational effects.

The research work The Brilliant Mind of Investors, which won the prize in the doctoral category, analysed how different educational backgrounds can affect the behaviour of investors. Two of the authors, Kristjan Liivamagi and Tarvo Vaarmets, are studying for doctorates in economics at Tallinn University of Technology, and the third, Tonn Talpsepp, holds a doctorate from the same university.

The winning work in the master’s category, Analysis of intergenerational effects of the pension system reforms in Estonia based on simulation model, assessed the impacts on different generations of the reforms to the Estonian pension system and of possible future scenarios, and whether the reforms have put any generation at a disadvantage. Magnus Piirits was awarded a master’s degree in economics by the University of Tartu in 2014.

The Eesti Pank research awards were given to the winners on 4 November at a public lecture held at Eesti Pank on The euro in a comparative perspective to commemorate Professor Ragnar Nurkse and mark the 95th anniversary of Eesti Pank. The lecture was given by former Polish deputy prime minister, finance minister and central bank governor, Professor Leszek Balcerowicz of the Warsaw School of Economics.

The Eesti Pank research award in memory of Urmas Sepp is being granted for the twelfth time in 2014. The research competition is designed to promote research in economics, recognise outstanding research work and enhance studies for academic degrees. Since 2011 the award has been granted in two categories, one for research leading to a PhD thesis or done as part of doctoral studies, and the other for research leading to a master’s dissertation or done as part of a master’s course. For more information on the research work, please contact Eesti Pank as detailed below.

Urmas Sepp was the head of the Eesti Pank macroeconomics department, later the economic research department, from 1993.