Our Mission
The Volatility and Risk Institute is an interdisciplinary center for research and analysis of financial and nonfinancial risks. It serves as a designated hub to support risk-related research and collaboration among scholars, practitioners, and policymakers. It supports, promotes, and facilitates risk analysis, assessment, and measurement, and creates a bridge between faculty research and a specialized group of practitioners and market participants on the cutting-edge of real-world risk issues. To assess and analyze these risks, we are employing new data and analytical tools including those from data science and a wide range of machine learning technologies. Our Faculty Board is composed of members from the Tandon School of Engineering, the Courant Institute of Mathematical Sciences, the Wilf Family Department of Politics in the Faculty of Arts & Science, the Wagner Graduate School of Public Service, the School of Global Public Health, the Law School, and the Stern School of Business. Our focus is on newly emerging forms of risk including climate risk, geopolitical risk, cyber risk, more recently pandemic risk, as well as new topics in financial risk.
VOLATILITY AND RISK INSTITUTE UPDATES
Growth of the Private Credit and the Role of Fiscal Dominance on Treasury Markets by Richard Berner
Professor Richard Berner, Co-Director of NYU Stern’s Volatility and Risk Institute, joined the Macro Musings Podcast hosted by to discuss his career, global liquidity, the implications of fiscal dominance, the growth of private credit, the 2023 SVB banking turmoil, and more.
The Strange Calm in Markets with Richard Berner
The latest episode of the Global Rewire podcast, “The Strange Calm in Markets,” is now out, featuring Richard Berner, co-director of NYU Stern’s Volatility and Risk Institute, in conversation with Fabio Natalucci, CEO of the Andersen Institute. In this episode, they explore why market volatility remains unusually low despite global economic and geopolitical uncertainty, discussing structural and technical forces, the role of central banks, and the growing influence of retail trading.
"The Challenges for Financial Stability from NBFI" with John Schindler
John Schindler, Secretary General of the Financial Stability Board. delivered a talk on “The Challenges for Financial Stability from NBFI,” at the Volatliity and Risk institute on Wednesday, January 28, 2026, from 4:30–5:30 PM ET. His full speech from the event is posted on the FSB website.
Volatility and Risk Institute Expands Global Footprint with Launch at NYU Abu Dhabi
NYU Abu Dhabi (NYUAD) and New York University Stern School of Business announced the Volatility and Risk Institute at NYU Abu Dhabi (VaRIAD), a partnership with and expansion of the Stern Volatility and Risk Institute (VRI). This launch builds upon VRI’s global presence, which included expansion to NYU Shanghai in 2014, creating a powerful research network across the world’s key financial regions and in locations as part of NYU’s global network.
Seminar on Nationalism, Fragmentation, and Geopolitical Risk with Daleep Singh - Monday, September 30, 4:30pm - 5:30pm
We co-hosted a seminar with the Center for Global Economy and Business on "Nationalism, Fragmentation, and Geopolitical Risk" with Daleep Singh,Vice Chair, Chief Global Economist and Head of Global Macroeconomic Research, PGIM Fixed Income on Tuesday, September 30th at 4:30pm - 5:30pm.
Seminar on Fiscal Challenges and Market Implications with Phillip Swagel & Deirdre Dunn - Monday, September 15, 4:30pm - 5:30pm
We co-hosted a seminar with with the Center for Global Economy and Business on "Fiscal Challenges and Market Implications" with Phillip Swagel, Director, Congressional Budget Office and Deirdre Dunn, Co-Head of Global Rates, Citi.
Professor Engle's Speech at SoFiE 2025: "Mirror, mirror on the wall, who's the greenest of us all?"
Professor Engle presented "Mirror, mirror on the wall, who's the greenest of us all?" at the 17th Annual SoFiE Conference June 11, 2025 at ESSEC Business School. You can watch full video on the conference website.
Discussion from VRI Conference featured on Risk.net
A panel discussion from our Sixth Annual Conference was covered in the Risk.net article, "BoE plans to link system-wide and individual stress tests"
Professor Berner moderates panel on "Liquidity risk in the Financial System" at Bank of England Watchers' Conference
Professor Berner moderated panel on "Liquidity risk in the Financial System" at Bank of England Watchers' Conference on November 25, 2024 in London. You can watch the full panel on YouTube via the link below.
Robert Engle
Richard Berner
OUR RESEARCH AND PROGRAMS
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Our research focuses on emerging forms of risk including climate risk, geopolitical risk, cyber risk as well as new topics in financial risk.
Research
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