On May 19, the winner of Dr. Werner Jackstädt Best Paper Award of Chinese Economy and Business Research of the year 2012-2013 (Volume 12)Economics(Quarterly Journal) was announced. The paper Aging Population, Economic Growth and Fiscal Policy co-published by Professor Liu Qiongzhi of School of Economics and Management of Wuhan University and his student He Qi on Economics (quarterly journal) Volume 12, No.1 awarded the prize.

In this paper, the influence of aging population on the economic growth and the fiscal policy to achieve the balanced growth was explored through the establishent of an extended overlapping generations model. According to the Juries, Liu Qiongzhi and He Qi established a time’s overlap model that included the human capital and the government tax revenue which achieved the balance of both economic theories and empirical analysis.

To encourage a normal economics research,Economics(quarterly journal) established the annual Best Paper Award since its publication. One paper from the published articles ofEconomics(quarterly journal) will be selected every year as the best paper. Since 2010, the Best Paper Award was renamed as “Dr. Werner Jackstädt Best Paper Award of Chinese Economy and Business Research”. Since 2014, the award amount changed to RMB 40,000 Yuan.

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