Award Ceremony - Raghuram Rajan receives Deutsche Bank Prize in Financial Economics 2013
(firmenpresse) - (DGAP-Media / 26.09.2013 / 07:50)
Financial economist Raghuram G. Rajan receives Deutsche Bank Prize in
Financial Economics 2013
- Center for Financial Studies honors laureate with high level academic
symposium entitled 'Banking, Liquidity, and Monetary Policy'
- Renowned policy panel with Vítor Constâncio (Vice-President European
Central Bank), Otmar Issing (CFS President) and Jeremy Stein (Governor
Federal Reserve System )
Frankfurt, 26 September 2013 - The Center for Financial Studies (CFS) today
honors Raghuram G. Rajan, laureate of the Deutsche Bank Prize in Financial
Economics 2013, with a symposium entitled 'Banking, Liquidity, and Monetary
Policy' in Frankfurt. Leading academic economists will discuss Rajan's
highly influential contributions in a broad range of research areas in
financial economics. Policy panel members will address topical policy
issues relating to Rajan's work. They include European Central Bank
Vice-President Vítor Constâncio, CFS President Otmar Issing and Governor of
the Federal Reserve System Jeremy Stein.
Raghuram G. Rajan was announced as the prize winner in February 2013.
Jürgen Fitschen, Co-CEO Deutsche Bank AG, presents the Deutsche Bank Prize
in Financial Economics 2013 to Rajan during an award ceremony prior to the
symposium. Douglas Diamond, Professor of Finance at the University of
Chicago Booth School of Business, will give the laudation.
Jury Chairman and CFS Director Michael Haliassos said: 'We are very proud
to have gathered some of the world's most distinguished researchers for our
symposium in honor of Raghuram G. Rajan. The readiness with which the
speakers accepted the invitation of CFS, as well as Rajan's recent
appointment as Governor of the Reserve Bank of India are testimony for his
academic excellence and the policy-shaping impact of his research.'
Jürgen Fitschen, Co-Chief Executive Officer Deutsche Bank AG, emphasized:
'It would have been hard to find a more deserving winner for this year's
award. Professor Rajan's career is not only marked by path-breaking,
empirically-based research, but even more important is the fact that he
never shied away from the real world of complex policy issues and special
interests.'
Raghuram G. Rajan's broad research interests include banking, corporate
finance, and the role of finance in economic development. Rajan is Governor
of the Reserve Bank of India since 4 September 2013. He was one of the few
economists who warned the world about the financial crisis that eventually
broke out in 2008.
'I am honored that a jury of such respected academic colleagues has awarded
me with this prize. I also thank my colleagues, both from academia and from
the central banking community, for participating in the seminar organized
by the Center for Financial Studies. This is a time of great uncertainty in
global financial markets, and it was good to discuss academic theory and
policy practice in such times,' said Rajan.
Rajan's work spans a remarkably broad range of areas in financial economics
most important to the development of economies worldwide, ranging from the
central role of banks in creating liquidity and the role of finance in
economic growth to the nature of corporations and their financing. His
penetrating analysis of the changing growth experience during the postwar
eraand of the differences in the nature of the crises faced by the United
States and by Southern Europe is essential reading for understanding the
current policy dilemmas between austerity and growth facing both sides of
the Atlantic.
Raghuram G. Rajan is Governor of the Reserve Bank of India (since September
2013). Previously, he was Chief Economic Adviser in the Finance Ministry,
Government of India and Eric J. Gleacher Distinguished Service Professor of
Finance at the University of Chicago's Booth School of Business. Before
that, he was Chief Economist and Director of Research at the International
Monetary Fund (2003 - 2006). Professor Rajan served as the President of the
American Finance Association in 2011. He is a member of the Group of Thirty
and of the American Academy of Arts and Sciences.
Rajan has been elected by a Jury of internationally renowned experts in
financial research and practice. Members of the international Jury,
alongside the Chairman Michael Haliassos, include (in alphabetical order)
Professors Ricardo Caballero (Massachusetts Institute of Technology), David
Folkerts-Landau (Deutsche Bank's Group Chief Economist, Global Head of
Market Research and member of the Group Executive Committee), Nicola
Fuchs-Schündeln (Goethe University), Otmar Issing (CFS President) and Jan
Pieter Krahnen (CFS Director). Furthermore, the Jury includes Robert C.
Merton (Nobel Prize Winner; Massachusetts Institute of Technology), the
winner of the Deutsche Bank Prize in Financial Economics 2011, Kenneth
Rogoff (Harvard University), Raman Uppal (EDHEC Business School) and Uwe
Walz (CFS Director).
___________________________________________________________
About the Deutsche Bank Prize in Financial Economics
The academic Deutsche Bank Prize in Financial Economics is sponsored by the
Deutsche Bank Donation Fund and carries an endowment of EUR50,000. The CFS
awards the prize biannually in partnership with Goethe University
Frankfurt. The Deutsche Bank Prize in Financial Economics honors
internationally renowned economic researchers whose work has a marked
influence on research concerning questions of financial economics and
macroeconomics, and has led to fundamental advances in economic theory and
practice.
The prize was awarded for the first time in 2005 to Eugene F. Fama,
Professor of Finance at the University of Chicago, for researching the
concept of individual rationality in financial market behavior. In 2007
Michael Woodford, Professor of Political Economy at Columbia University,
received the prize for his groundbreaking redefinition of monetary
analysis. In 2009 Robert J. Shiller, Professor of Economics at Yale
University and Professor of Finance at Yale School of Management, received
the prize for his constructive challenge of rationality and promotion of
behavioral considerations. Kenneth Rogoff, Professor of Economics and
Professor of Public Policy at Harvard University in Cambridge, USA,
received the prize in 2011 for his analysis of financial crises.
About the Center for Financial Studies
The Center for Financial Studies (CFS) is a financially independent
research institute, affiliated to Goethe University Frankfurt. CFS conducts
independent and internationally-oriented research on financial markets,
financial intermediaries and monetary economics and interacts as the German
partner with other international research centers specifically on the
subject of financial market architecture and the role played by banks and
stock exchanges. President of CFS is Prof. Dr. Dr. h.c. mult. Otmar Issing.
Chairman of the supporting association: Dr. Rolf-E. Breuer. Overall
management of the institute is conducted by the directors Prof. Michael
Haliassos, Ph.D., Prof. Dr. Jan Pieter Krahnen, Prof. Dr. Uwe Walz.
Contact:
Sabine Kimmel Center for Financial StudiesEnd of Media Release
Managing Director Special Events Goethe University Frankfurt
and Projects House of Finance
Tel.: +49 (0)69-798-30066 Grüneburgplatz 1, HPF H5
Email: kimmel(at)ifk-cfs.de 60323 Frankfurt am Main (Germany)
www.db-prize.org
---------------------------------------------------------------------
Issuer: Center for Financial Studies an der Goethe Universität
Frankfurt
Key word(s): Finance
26.09.2013 Dissemination of a Press Release, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
231938 26.09.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 26.09.2013 - 07:50 Uhr
Sprache: Deutsch
News-ID 300370
Anzahl Zeichen: 6162
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 249 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Award Ceremony - Raghuram Rajan receives Deutsche Bank Prize in Financial Economics 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
Center for Financial Studies an der Goethe Universität Frankfurt (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
