Last week PhD in International Economics student Julia Schmidt was presented with the Eni Enrico Mattei Foundation prize which aims to recognise young economists for outstanding research that incorporates new ideas and addresses key issues at the global scale.

The paper for which Ms Schmidt received the award is entitled “Technological Standardization, Endogenous Productivity and Transitory Dynamics”. It has three main findings. First, technology adoption is cyclical, with adoption rates higher during booms than during recessions, underlining the importance of demand effects and financial constraints. Second, standardisation is an important driver of output and investment in equipment and software and is associated with higher productivity growth. Third, although technological diffusion is a long-term process, forward-looking variables (such as stock market indices) quickly respond to the introduction of technology shocks.

The Fondazione Eni Enrico Mattei Award is given annually to the authors of the three best papers presented by young economists at the annual congress of the European Economic Association.

Fondazione Eni Enrico Mattei (FEEM) is a nonprofit, nonpartisan research institution devoted to the study of sustainable development and global governance. The Institute's Centre for International Environmental Studies (CIES) and FEEM are founding partners of the BIOECON Network, in addition to collaborating on green economy and innovation issues.