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Prof. Viral Acharya Awarded the Banque de France-Toulouse School of Economics Junior Prize
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On March 16, Viral Acharya, C.V. Starr Professor of Economics, received the inaugural 2011 Banque de France-Toulouse School of Economics Junior Prize in Monetary Economics and Finance in Paris, France. Acharya received the Junior Prize, awarded by a jury of nine members from academia and central banking, to two leading economists, one affiliated with a European-based institution and one with an institution based outside of Europe, in the fields of monetary economics and finance under the age of 40.
“I am delighted and honored to be considered suitable for such a prestigious award from such a distinguished Jury, from a pool I am sure of many equally deserving candidates, and along with Klaus Adam of the University of Mannheim (other Junior Prize recipient) and Bengt Holmstrom of MIT (the Senior Prize recipient), one of the most influential economists of our times," said Acharya.
Presenting the Junior Prize to Acharya, Jean Tirole from the Toulouse School of Economics mentioned the NYU Stern books on the financial crisis co-authored by Acharya, Restoring Financial Stability and Regulating Wall Street, as well as his co-authored book on Fannie Mae and Freddie Mac, Guaranteed to Fail.
Receiving the Prize, Acharya explained his ongoing research, which is to understand why and how financial sector regulation gets captured by myopic government agendas and what could be done to mitigate this problem. Acharya conjectured that helping understand government balance-sheets and making public finance more transparent could be one of the most important contributions academics could make to finance and markets in the future.
“I am delighted and honored to be considered suitable for such a prestigious award from such a distinguished Jury, from a pool I am sure of many equally deserving candidates, and along with Klaus Adam of the University of Mannheim (other Junior Prize recipient) and Bengt Holmstrom of MIT (the Senior Prize recipient), one of the most influential economists of our times," said Acharya.
Presenting the Junior Prize to Acharya, Jean Tirole from the Toulouse School of Economics mentioned the NYU Stern books on the financial crisis co-authored by Acharya, Restoring Financial Stability and Regulating Wall Street, as well as his co-authored book on Fannie Mae and Freddie Mac, Guaranteed to Fail.
Receiving the Prize, Acharya explained his ongoing research, which is to understand why and how financial sector regulation gets captured by myopic government agendas and what could be done to mitigate this problem. Acharya conjectured that helping understand government balance-sheets and making public finance more transparent could be one of the most important contributions academics could make to finance and markets in the future.