Each year, the IMF’s Country Representative selects the best paper in international or monetary economics to receive this special award, accompanied by a monetary prize, for the best related work presented at the Annual Meetings. The award has historically highlighted rigorous applied work on monetary policy, exchange rates, credit markets, and macroeconomic forecasting—often, though not exclusively, with a direct focus on Armenia.
2026 Winner
Mushegh Tovmasyan (University of Paris-Saclay), Trade and Firm-Level Effects of Geopolitical Change: Evidence from Armenia
Past Winners
2025 Armen Khederlarian (CUNY), From Diaspora Dollars to Default Risk: Remittances and Sovereign Spreads (with Minjie Deng)
2024 Fabien Petit (UCL), The Employment Impact of Emerging Digital Technologies
2023 Mushegh Tovmasyan (University Paris-Saclay), Structural Transformation and Trade Liberalization: Evidence from RTA Enactments
2022 Petros Poghosyan (American University of Armenia), Economic Growth and Income Distribution Effects of Globalization in Emerging and Developing Economies: Opportunities or Costs?
2021 Tatul Hayruni, Armen Nurbekyan, and Gevorg Minasyan (Central Bank of Armenia), Estimates of Tax Effort and Tax Capacity: New Evidence from a Heterogeneous Panel
2020 Ani Asoyan, Vahagn Davtyan, Haykaz Igityan, Hasmik Kartashyan, and Hovhannes Manukyan (Central Bank of Armenia), Modeling the Effects of Health Shock on Economy: Standard NK DSGE Framework
2019 First place: Karen Poghosyan (Central Bank of Armenia), On the Applicability of Dynamic Factor Models for Macroeconomic Forecasting in Armenia
Second place: Stella Mnoyan (Central Bank of Armenia), Exchange Rate Pass-through in Armenia
2018 Haykaz Igityan (Central Bank of Armenia), Asymmetric Effects of Monetary Policy in Different Phases of Armenia’s Business Cycle
2017 Hayk Sargsyan (Central Bank of Armenia), Efficiency of the Monetary Policy in Low Income Indebted Countries
Zareh Asatryan (ZEW Mannheim and University of Mannheim), Responses of Firms to Tax, Administrative and Accounting Rules: Evidence from Armenia (with Andreas Peichl)
2016 Narek Ohanyan (American University of Armenia), Monetary Policy in an Open Economy: The Role of Financial Dollarization
Hayk Sargsyan (Central Bank of Armenia), Developments of Credit Demand and Supply in Armenian Banking System
2014 Gayane Barseghyan (Central Bank of Armenia and American University of Armenia), Income Distribution and Macroeconomics: The Impact of Technological Progress
Vahagn Jerbashian (University of Barcelona and CERGE-EI), The Impact of Doing-Business Regulations on Investments in ICT