The IZA Prize in Labor Economics 2006 goes to David Card and Alan B. Krueger
- The most renowned research prize in labor economics
- Research focus on education policy and return on investment in education
Two U.S. economics professors, David Card and Alan B. Krueger, share this year's IZA Prize in Labor Economics. Card researches and teaches at the University of California, Berkeley, and Krueger at Princeton University, New Jersey. The scholarly award has been given annually since 2002 from the Bonn-based Institute for the Study of Labor (IZA), which Deutsche Post significantly supports. The award is one of the most renowned prizes in the academic world and, with EUR50,000 in prize money, also one of the most well endowed. IZA Director Prof. Dr. Klaus F. Zimmerman and Deutsche Post CEO and IZA President Dr. Klaus Zumwinkel awarded the prize.
In other research, Card and Krueger have proven that the declining rate of unionization in the United States was followed by a greater wage spread, with the scale widening in both directions - upward and all the way down to minimum wage. In addition, David Card has been able to demonstrate in pertinent studies that immigration does not have any long-term negative effects on the labor market.
The IZA Prize in Labor Economics 2006 recognizes the groundbreaking research of two exceptional scientists while underlining the strong relevance of labor economics to a target-oriented labor-market policy.