Deutsche Bank Prize in Financial Economics
The German Bank Prize in Financial Economics honors internationally renowned economists whose work has significantly influenced research in financial and macroeconomic issues, and has led to significant advances in theory and practice.
The endowed with 50,000 euros Science Prize is awarded by the Center for Financial Studies in partnership with the Goethe University in Frankfurt every two years and is funded by the German Bank Foundation Fund in the Donors ' Association for German Science. As part of an international scientific symposium of the award will be presented by the Co - Chairman of the Management Board of Deutsche Bank at the Goethe University of Frankfurt to the winner
Award winners
2005
Eugene F. Fama, Professor of Finance at the Graduate School of Business at the University of Chicago, was the first winner.
He received the Peis
The award ceremony took place as part of an academic symposium on " Market Efficiency Today" on 6 October 2005 at the Goethe University Frankfurt.
Fama 2013 was awarded jointly with Robert J. Shiller and Lars Peter Hansen with the price of the Swedish Riksbank Economic Sciences in Memory of Alfred Nobel.
2007
Michael Woodford, Professor of Political Economy at Columbia University in New York, was awarded in 2007 for his fundamental contributions to the theory and practical analysis of monetary policy. His research Woodford has developed a theory of monetary macroeconomics, their attractiveness for researchers lies in its rigorous microeconomic foundation. Your high practical value Woodford proved by analyzing the central role of expectations and communication in the implementation of monetary policy.
The award was presented at the Goethe University in Frankfurt as part of an international academic symposium on " The Theory and Practice of Monetary Policy Today" on October 4, 2007.
2009
Robert J. Shiller, Professor of Economics at Yale University, and Professor of Finance and Fellow at the Yale School of Management, was awarded the 2009 Prize DB. With its innovative work in researching the dynamics of asset prices, Robert Shiller has done pioneering work in the field of financial economics. His findings on the volatility of stock prices, the emergence of price bubbles and resultant crises, as well as the distribution of macroeconomic risks are not only of high scientific importance but also the way for the practice.
An international scientific symposium was held in conjunction with the awards ceremony on September 30, 2009 at the Goethe University Frankfurt. Leading financial economists, including Nobel laureate Robert C. Merton, MIT Sloan School of Management, and Otmar Issing, president of the Center for Financial Studies, discuss this occasion at the symposium " Financial Innovation and Economic Crisis " on the issues of the work of Robert Shiller.
2013 Robert Shiller was awarded jointly with Eugene Fama and Lars Peter Hansen, with the price of the Swedish Riksbank Economic Sciences in Memory of Alfred Nobel.
2011
Kenneth S. Rogoff, Professor of Economics and Thomas D. Cabot Professor of Public Policy at Harvard University, was honored for his pioneering work in the field of international finance and macroeconomics with the DB Prize 2011. The work of Kenneth Rogoff deal with the insolvency of states and the restructuring of state debt, exchange rate developments, global imbalances and the development of financial crises and are thus relevant to understanding and coping with the current global challenges in the highest degree. Rogoff has not only pioneering work of the highest scientific interest paid, but available to a wider public his findings.
The Award Ceremony 2011 at the Goethe University in Frankfurt was part of the international CFS Symposium " Global Perspective on Financial Crisis" on 22 September, instead. Leading financial economists, including the Governor of the Central Bank Israel Stanley Fischer and CFS President Otmar Issing, discuss Rogoff's work and its current political and economic relevance to the global financial and debt crisis.
2013
Raghuram G. Rajan, Governor of the Reserve Bank of India ( Central Bank), was awarded the DB Prize in 2013 for his highly influential performances in extremely diverse areas of financial economics. Rajan's works span the world an impressive range of financial and economic issues most relevant for developing economies. These include effects of financial development on growth, banking and financial crises as well as corporate finance and control. His works constitute entirely new empirical and theoretical approaches with far-reaching political implications.
The award ceremony took place at the international, academic CFS Symposium " Banking, Liquidity, and Monetary Policy" on 26 September 2013 at the Goethe University Frankfurt. Leading financial economists, including Viral Acharya, Markus Brunner and Luigi Zingales Meier, Rajan discussed influential achievements in various areas of financial economics and their relevance for policy. ECB Vice President Vitor Constancio, CFS President Otmar Issing and Fed Governor Jeremy Stein appeared as a speaker on the Policy panel "Liquidity and Monetary Policy."
Nomination process
More than 4,000 professors and scientists of each top 30 universities in the U.S., Europe and Latin America and in the Asia-Pacific region every two years are invited to submit papers and to recommend an award winner. In addition, a total of more than 300 members of the national banks, the European Central Bank, the Organization for Economic Cooperation and Development ( OECD), the Bank for International Settlements (BIS ), the International Monetary Fund (IMF ) and the World Bank the possibility of a scientist or a scientists to nominate as candidates.
Jury
The nominations will be evaluated by an independent, international jury. According to the statutes of the German Bank Prize jury includes:
- Five renowned financial and economic experts from science and practice;
- The directors of the Departments of Finance, as well as money and currency of Goethe University Frankfurt or determined by these experts.
- A representative of the German bank;
- The directors of CFS.
Jury Members 2005 - 2013
- Michael Binder, Goethe University Frankfurt, Germany
- Matthew Bishop, "The Economist", USA
- Ricardo C. Caballero, Massachusetts Institute of Technology, USA
- David Folkerts -Landau, German Bank AG, Germany
- Günter Franke, University of Konstanz, Germany
- Nicola Fuchs- Schündeln, Goethe University Frankfurt, Germany
- Vitor Gaspar, State Minister of Finance, Portugal
- Luigi Guiso, European University Institute, Italy
- Michael Haliassos, CFS and Goethe University Frankfurt, Germany
- Charles Yuji Horioka, Osaka University, Japan
- Otmar Issing, president of CFS, Germany
- Takatoshi Ito, University of Tokyo, Japan
- Jan Pieter Krahnen, CFS and Goethe University Frankfurt, Germany
- Patrick Lane, "The Economist", UK
- Christian Laux, Vienna University of Economics, Austria
- Raimond Maurer, Goethe University Frankfurt, Germany
- Thomas Mayer, German Bank AG, Germany
- Robert C. Merton, MIT Sloan School of Management, USA
- Lucrezia Reichlin, London Business School, UK
- Carmen M. Reinhart, Peterson Institute for International Economics, USA
- Hermann Remsperger, Goethe University Frankfurt, Germany
- Kenneth S. Rogoff, Harvard University, USA
- Reinhard H. Schmidt, Goethe University Frankfurt, Germany
- Klaus Schmidt- Hebbel, Pontifical Catholic University of Chile, Chile
- Robert J. Shiller, Yale University, USA
- Marti G. Subrahmanyam, New York University, USA
- Lars E.O. Svensson, Sveriges Riksbank, Sweden
- Mark P. Taylor, University of Warwick, UK
- Raman Uppal, Edhec Business School, UK
- Maria Vassalou, SAC Capital Advisors, LP, USA
- Norbert Walter, German Bank AG, Germany
- Uwe Walz, CFS and Goethe University Frankfurt, Germany
- Volker Wieland, Goethe University Frankfurt, Germany
- Josef Zechner, Vienna University of Economics, Austria