Deutsche Bank Prize in Financial Economics
| The Deutsche Bank Prize in Financial Economics | |
|---|---|
| Awarded for | Influential contributions to research in the fields of finance and money and macroeconomics, and whose work has led to practice and policy-relevant results. |
| Country | Germany, Frankfurt am Main |
| Presented by | Center for Financial Studies |
| First awarded | 2005 |
| Official website | www |
The Deutsche Bank Prize in Financial Economics honors renowned researchers who have made influential contributions to the fields of finance and money and macroeconomics, and whose work has led to practical and policy-relevant results. It is awarded biannually, since 2005, by the Center for Financial Studies (CFS), in partnership with Goethe University Frankfurt, and is sponsored by Deutsche Bank Donation Fund. The award carries an endowment of €50,000, which is donated by the Stiftungsfonds Deutsche Bank im Stifterverband für die Deutsche Wissenschaft.
Eugene F. Fama, Professor of Finance at the University of Chicago Booth School of Business, was the first winner of the prize. He was awarded for his fundamental contributions to financial economics, in particular, for developing and investigating the concept of market efficiency, which is now a cornerstone in the field of finance. The award was presented at Goethe University Frankfurt on 6 October 2005, preceded by an academic CFS symposium entitled “Market Efficiency Today”.
Fama is the joint recipient of the 2013 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel with Lars Peter Hansen of the University of Chicago and Robert J. Shiller of Yale University.
Michael Woodford, Professor of Political Economy at Columbia University in New York, was awarded with the DB Prize 2007 for his fundamental contributions to the theory and practical analysis of monetary policy. Woodford has developed a theory of monetary macroeconomics that holds widespread appeal to academic researchers owing to its rigorous microeconomic foundations. Woodford has proved the immense practical value of his theory by analyzing the central role played by expectations and communication in the implementation of monetary policy.
The award ceremony was preceded by an international academic CFS symposium on "The Theory and Practice of Monetary Policy Today".
Robert J. Shiller, Professor of Economics at Yale University, and Professor of Finance and Fellow at Yale School of Management, was awarded the 2009 prize for his contributions to the field of financial economics. Through his innovative work exploring the dynamics of asset prices, Robert Shiller has become a pioneer in the field of financial economics. His findings on the volatility of share prices, the occurrence of price bubbles and resultant crises, as well as on the distribution of macroeconomic risks are not only of great academic importance, they have also broken new ground in economic practice.
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