The TIAA Paul A. Samuelson Award For Outstanding Scholarly Writing On Lifelong Financial Security, named in honor of the Nobel Prize-winning economist and former CREF Trustee, recognizes economic research that helps advance Americans’ lifelong financial well-being. Since first being presented in 2000, the Samuelson Award has become the premier acknowledgement of excellence in research on financial security.
The TIAA Institute presented the 2015 Paul A. Samuelson Award to Raj Chetty, Stanford University and National Bureau of Economic Research (NBER), John N. Friedman, Brown University and NBER, Soren Leth-Petersen, University of Copenhagen and Center for Economic Policy Research Torben Heien Nielsen University of Copenhagen, and Tore Olsen University of Copenhagen and NBER for their paper “Active vs. Passive Decisions and Crowd-out in Retirement Savings Accounts: Evidence from Denmark.” The award was presented at the annual meeting of the Allied Social Science Associations, January 3, 2016.
This research team used 41 million data points from residents of Denmark to analyze the impact of automatic contribution policies designed to increase savings, comparing those that require active or passive choice by the saver.