IZA Prize 2007, Press Release
This year's IZA Prize in Labor Economics will be awarded to the renowned U.S. economist Richard B. Freeman (Harvard University and London School of Economics), who has made a number of fundamental contributions that have monumentally shaped modern labor economics. The IZA Prize honors Freeman's groundbreaking work on the sustainability of the welfare state and the role of trade unions in the labor market. The award ceremony will be held on November 5, 2007, in Berlin with German Federal President Horst Köhler as the invited speaker. Full press release

About the IZA Prize
The stochastic nature of modern labor markets has rendered an understanding of labor economics indispensable. Thus, the Institute for the Study of Labor - with generous support from the Deutsche Post Foundation - have created the "IZA Prize in Labor Economics". This annual prize is awarded for outstanding academic achievement in the field of labor economics. It is meant to stimulate research that tries to find answers to the important labor market policy questions of our time. During a festive award ceremony in Berlin, IZA President Klaus Zumwinkel awards the IZA Prize. The IZA Prize was first awarded in 2002.

More than 600 renowned labor economists are affiliated with IZA through its worldwide network of Research Fellows. These influential economists are entitled to nominate candidates for the prize. The decision will be made by the IZA Prize Committee, which includes distinguished international labor economists as well as IZA representatives. The IZA Prize in Labor Economics underscores the central importance of labor market research in shaping the "Future of Labor." For further information, please contact: prize@iza.org

IZA Prize Award Statement
Richard Freeman has made several path-breaking contributions in a variety of areas in labor economics that have had a massive influence on the profession. His highly original studies combine theory and empirical research to address important policy-relevant issues. Freeman has advanced our knowledge in fields that had traditionally been studied by labor economists, such as unionism and collective activity in the workplace, labor demand and labor supply, or inequality. He has also shaped modern labor economics by drawing attention to important social problems and new trends, including the analysis of crime, discrimination, the viability of the welfare state, and political participation. Full statement [PDF]