Prizewinners

VERONICA GUERRIERI

The Bernácer Prize was awarded this year to Prof. Veronica Guerrieri (The University of Chicago Booth School of Business)

"for her influential research contributions regarding the application of search theory to explain the emergence of illiquidity and fire sales in different asset markets."

THOMAS PHILIPPON

The Bernácer Prize was awarded this year to Prof. Thomas Philippon (NYU Stern School of Business)

"for his influential research on efficiency trends in the finance industry, the costs of financial distress and intervention policies in markets subject to adverse selection"

NICHOLAS BLOOM

The 2012 Bernácer Prize was awarded to Prof. Nicholas Bloom (Stanford University)

"for his influential research contributions on the sources, dynamics and effects of policy and economic uncertainty on business cycles as well as on the determinants of good management practices”

Lasse H. Pedersen

The Bernácer Prize was awarded to Prof. Lasse H. Pedersen (Copenhagen Business School and NYU Stern School of Business)

"for his original research contributions on how the interaction between market liquidity risk and funding liquidity risk can create liquidity spiral and systemic financial crisis"

XAVIER GABAIX

The 2010 Bernácer Prize was awarded to Xavier Gabaix (NYU Stern School of Business)

"for his original research contributions in financial and behavioural economics, including the consequences of seemingly irrational behaviour on asset markets, and his analysis of the level of compensation of corporate executives"

Emmanuel Farhi

The 2009 Bernácer Prize was awarded to Prof. Emmanuel Farhi (Harvard University)

"for his relevant contributions to the design of optimal taxation in business cycle models with incomplete markets, and for improving our understanding of the macroeconomic mechanisms that underlie the relationships among global imbalances, financial crashes, speculative growth episodes and real activity"

Markus Brunnermeier

The Bernácer Prize was awarded to Prof. Markus Brunnermeier (Princeton University)

"for his important research on explaining the emergence and persistence of asset price bubbles, the causes of liquidity crises in financial markets, and the implications of these phenomena for risk management and for financial regulators"

Pierre-Olivier Gourinchas

The Bernácer Prize was awarded to Prof. Pierre-Olivier Gourinchas (University of California, Berkeley)

"for his important research on explaining recent (puzzling) facts in global macroeconomics and finance, evaluating the gains of financial integration and analyzing the importance of precautionary saving in optimal life--cycle models of consumption expenditure in the presence of uncertain labour income"

HÉLÈNE REY

The Bernácer Prize was awarded to Hélène Rey (London Business School)

"for her important research on the determinants and consequences of external trade and financial imbalances, the theory of financial crisis and the internationalization of currencies. Her contributions help to improve our understanding of the connections among globalization, exchanges rates and external markets"

Monika Piazzesi

The Germán Bernácer Prize was awarded to Prof. Monika Piazzesi (Stanford University)

"for her important research in developing a unified approach that improves our understanding of the connection between asset prices- including bonds, equities and real estate- and the institutional features of monetary policy and the business cycles"

STEPHANIE SCHMITT-GROHE

The Germán Bernácer Prize was awarded to the German economist Stephanie Schmitt-Grohe (Columbia University)

"for her important research devoted to developing and applying the tools for evaluation of macroeconomic (fiscal and monetary) stabilization policies in the context of economies subject to nominal and real distortions."

LUIGI ZINGALES

The Germán Bernácer Prize was awarded to Luigi Zingales (Chicago Booth School of Business).

"for his important research on financial markets and fight of poverty"

José Manuel Campa

The Germán Bernácer Prize was awarded to José Manuel Campa (IESE Business School)

"for his outstanding research on Echange Rate Behaviour and Internacional Finance"

Philip Lane

The Germán Bernácer Prize was awarded to Philip Lane (Trinity College Dublin)

"for outstanding contributions to European monetary economics"