2006
Anna Sanz De Galdeano
has a PhD in Economics at the European University Institute. She has been CSEF
Fellow from May 2004 until January 2006 when she has been appointed at the
University of Girona. She has also held visiting positions at Universidad Carlos
III de Madrid and at the Research Department of the European Central Bank. Her
primary research interest is in labour economics and health economics with a
particular focus on program evaluation. She has evaluated the impact of the 1996
Health Insurance Portability and Accountability Act on job-lock, studied the
effect of parental divorce on adolescents’ cognitive development, and explored
the relationship between parental employment and the amount of time devoted to
child care. Her current research includes evaluations of the impact of obesity
on the demand for health care services, studies of the demand for health care
and health insurance in Portugal and analyses of the effects of firm-level
bargaining on the structure of Spanish wages. Two of her recent papers are
forthcoming in the Industrial and Labor Relations Review (“Job-Lock and
Public Policy: Evidence from Clinton’s Second Mandate“) and in Economics
Letters (“The Euro Area Wage Curve”, with Jarkko Turunen).
Thomas Steinberger
has
a Ph.D. from the European University Institute (Florence). He has been CSEF
Fellow from April 2003 until January 2006 when he has been appointed at the
University of Vienna. During his stay at CSEF he studied optimal financial and
economic decisions of households and firms in dynamic settings with uncertainty.
In a paper published in 2005 in the Journal of Economic Dynamics and Control,
he shows that observed occupational choice decisions by households and returns
to entrepreneurship can be captured well by a life-cycle portfolio choice model.
Two other recently published papers analyse the cross-sectional distribution of
wealth from a life-cycle perspective and business cycle dynamics in economies
with imperfect financial markets. Within the FINRET network he studied the
impact of public pension reform on entrepreneurial activity and the welfare
impact of funding regulations for private DB pension plans.
Raghu
Suryanarayanan
was a Marie Curie postdoctoral fellow at the University of
Salerno from February until August 2006. He holds a Ph.D. in Economics from the
University of Chicago and joined the Economics Team at Morgan Stanley (London).
His research interests include Asset Pricing and Intertemporal Choice under
Uncertainty. Last year he wrote “Implications of Anticipated Regret and
Endogenous Beliefs for Equilibrium Asset Prices: a Theoretical Framework.” (CSEF
Working Papers n. 161) “A Model of Anticipated Regret and Endogenous Beliefs”
(CSEF Working Paper n. 162).
2005
Renata Bottazzi
is a Research Economist at the
Institute for Fiscal Studies, London. Last year she received her Ph.D. in
Economics from University College London with a thesis of “Essays on
Household Labour Market Participation, Housing, and Wealth Accumulation
Decisions”. Previously, she received a Doctoral degree in Economics of the
Public Sector from the University of Salerno, with a thesis of “Essays on
Household Behaviour”. Her research interests include household consumption
and labour supply, saving, and housing decisions over the life cycle. In the
Fall of 2005 she visited CSEF to work with Tullio Jappelli and Mario Padula on
the impact of Italian pension reforms on retirement expectations and wealth
accumulation decisions. At IFS she is working on the interaction between labour
supply and housing decisions in a structural life cycle model (with Orazio
Attanasio, Hamish Low, Lars Nesheim and Matthew Wakefield).
Raquel Fonseca
joined CSEF in September 2002
as Post-doctoral fellow and, after spending three years at CSEF, in September
moved to Los Angeles to take a research position at Rand Corporation. Raquel has
a Ph.D in Economics from the Catholic University of Louvain. Her research
focuses on matching between job offers and workers, skill regional mismatch,
gender discrimination and entrepreneurship. Recent papers include “Welfare
Effects of Social Security Reforms Across Europe: the Case of France and Italy”
(with Thepthida Sopraseuth), CSEF Working Paper n. 138, and “Can the Matching
Model Account for Spanish Unemployment?” (with Rafael Muñoz) in
Investigaciones Economicas.
Luigi Pistaferri
is Assistant Professor of
Economics at Stanford University, a Research Fellow of CEPR, and a Faculty
Fellow of SIEPR. His current research focuses on household consumption
behaviour, income dynamics, and insurance of labour market risks. His articles
have been published in Econometrica, Journal of Political Economy, Review of
Economic Studies, and other top journals in Economics. He is involved in
research projects with various CSEF Fellows, including Tullio Jappelli and Mario
Padula, and has spent several months at CSEF as a visitor over the last few
years.
Matthew Wakefield
spent two months at CSEF as
Marie Curie Fellow. He is a Senior Research Economist at the Institute for
Fiscal Studies in London, and a PhD student at University College, London. His
research interests include examining how people respond to incentives to save
and to provide for their retirement, and structural life-cycle modelling of
individuals’ choices over consumption and saving. While at CSEF Matt worked on
an empirical investigation of how individuals responded to the UK’s ‘stakeholder
pension’ reform, and on a life-cycle model that incorporates a house purchase
decision alongside saving choices. His recent publications include
“Effectiveness of Tax Incentives to Boost (Retirement) Saving: Theoretical
Motivation and Empirical Evidence” (with Orazio Attanasio and James Banks),
OECD Economic Studies 2005, and “Ill-health and Retirement in Britain: A
Panel Data Based Analysis’ (with Richard Disney and Carl Emmerson), forthcoming
in Journal of Health Economics.
2004
Yannis Bilias is Associate Professor of
Economics at University of Cyprus, specializing in microeconometrics. During
his visit in CSEF, May and June of 2004, he worked on issues related to the RTN
program on the Economics of Ageing. In particular, he has worked (with Michael
Haliassos) on "The distribution of gains from access to stocks" and he is
currently working (with Dimitris Georgarakos and Michael Haliassos) on the issue
of "Equity Culture and the Distribution of Wealth". During March 2004, he
visited the Finance and Consumption Chair at EUI, Florence. Yannis has also
worked on issues related to the estimation methodology of quantile regression
and its applications. In 2002, he coauthored (with Anil Bera) the article "The
MM, ME, ML, EL, EF and GMM Approaches to Estimation: A Synthesis", in Journal
of Econometrics.
Tiziana Brancaccio received her PhD in
2003 from Boston College and is currently Assistant Professor at University
College Dublin. Her main fields of interest are development and labor economics.
During her thesis she has worked on the relationship between choice of land
contracts in developing countries and farming risk, empirically testing the
canonical moral hazard theory and proposing a theoretical model based on
compensating differentials. Her current research focuses on estimating the
offset effect of pension wealth on private wealth when agents are misinformed
about their retirement benefits and knowledge evolves over time.
Issam Hallak joined CSEF in February 2004 on the
RTN programme “Understanding Financial Architecture”, funded by the
European Commission. Issam obtained his PhD at the European University
Institute, Florence, on the contract designs of sovereign debt contracts.
Generally speaking, his research interests include banking & financial
intermediation, corporate finance, law and finance, sovereign debts. He was
previously appointed as a researcher at the University of Oxford and at the
Center for Financial Studies (University of Frankfurt). His papers have been
presented at major conferences, e.g. the European Finance Association meeting,
Glasgow 2003. Also, a paper of his won the prize for “Best Paper in Financial
Institutions” at the Southwestern Finance Association meeting, Orlando,
2004. In September, Issam is due to take up a position of Assistant Professor at
Università Bocconi.
Rebeca Jiménez-Rodriguez
has spent a year at CSEF
as Marie Curie Fellow. She received a Ph.D in Economics at the
University of Alicante (Spain) with a dissertation on
Macroeconometrics. Her main research interests are Econometrics and
Applied Macroeconomics.
Natalia
Utrero Gonzalez has spent a year at CSEF after the
completion of a
Ph.D. at the
Universidad Carlos III de Madrid (Spain). Her fields of interest are
corporate finance, law and finance and banking. She has analysed the
effects of banking regulation and investor protection on industry
leverage, growth and investment decisions. She has presented her
papers at EFA 2001, EFA 2002 and EEA 2003.
Her current research focuses on banking structure and
bank-firm relationships. She is currently working
on the relationship between labour market imperfections and
financial decisions corporate governance of financial institutions
with with Raquel Fonseca and on financial institutions corporate
governance with Francisco Callado.
2003
Fany Declerck
obtained
her PhD in 2000 from the University of Lille (France). She is
Associate Professor of Economics at the University of Toulouse since
2000. Her research interest is market microstructure, M&As, and
corporate governance. Her paper “Why Markets should not Necessarily
Reduce the Tick Size” (with D. Bourghelle) is forthcoming in the Journal
of Banking and Finance. She is working on four research projects:
an analysis investigates the principal order characteristics, the
piggyback and front-running hypothesis and the profitability of dual
traders activity using 3 months of high-frequency data from Euronext
Paris; an empirical analysis (with Bruno Biais) of the effects of
Euronext financial market integration; as ITL lowers the cost of
capital in countries where they are enforced, she (with E. de Bodt and
N. Aktas) proposes a theoretical and an empirical test of deterrence
effect of (anti) insider trading laws (ITL) on the investors’
behaviour, the trading activities of insiders and stock markets around
merger and acquisition announcement; and an analysis of how the
shareholders monitoring and the ownership structure affect the adverse
selection on the financial market.
Alex Frino
is
currently the Professor and Chair of
Finance
at the University of Sydney, Australia and Director, Securities
Industry Research Centre of Asia Pacific.
He has a PhD in
Finance
from the University of Sydney and an MPhil in
Finance
from Cambridge University. Dr
Frino has published one book and over 40 research papers in journals
such as Journal of
Finance
,
Journal of Banking and
Finance
,
Journal of Futures Markets and Journal
of Portfolio Management. He
has also held visiting appointments at the Sydney Futures Exchange and
Credit Suisse First Boston, and maintains strong links with industry.
His research interests include securities market microstructure
and portfolio management.
Alexei
Goriaev obtained a PhD in finance in 2002 at Tilburg University (the
Netherlands). Since then, he is Assistant Professor of Economics at
the New Economic School, Moscow. He visited CSEF in winter 2002-2003.
His general research interest is in financial econometrics. His recent
research has focused on mutual funds (predictability of mutual fund
performance, impact of fund relative performance on mutual fund flows,
lag structure of the flow-performance relationship, and strategic risk
taking by fund managers) and asset pricing as well as portfolio
management in emerging financial markets.
Luigi
Pistaferri is Assistant Professor of Economics at Stanford University, National
Fellow of the Hoover Institution, and a Research Affiliate of the
Centre for Economic Policy
Research. His research focuses on intertemporal consumption choices
and on the measurement of microeconomic labor market risks. In 2003 he
has published the following articles: “Income volatility and
household consumption: The impact of Food Assistance programs” (joint
with Richard Blundell), on the Journal
of Human Resources; “Anticipated and unanticipated wage changes,
wage risk and intertemporal labor supply”, on the Journal
of Labor Economics; “Tax incentives and the demand for life
insurance: Evidence from Italy” (joint with Tullio Jappelli), on the
Journal of Public Economics; and “Tax incentives for household
saving and borrowing” (joint with Tullio Jappelli), in the book Taxation
of Financial Intermediation, edited by Patrick Honohan and
published by Oxford University. The article “Income variance
dynamics and heterogeneity” (joint with Costas Meghir) is
forthcoming in Econometrica.
2002
Giovanni
Cespa
is
Assistant Professor of Finance at Pompeu Fabra University, Barcelona.
He received a PhD in Economic Analysis from the Universitat Autonoma
de Barcelona in 1999. His research deals with market microstructure,
with a special emphasis on dynamic trading strategies and multi asset
trading mechanisms, industrial organization and corporate governance.
The paper "Short‑term investment and equilibrium
multiplicity," where he analyses the effect of risk aversion and
heterogeneous horizons in a financial market with asymmetric
information, has recently been published in the October issue of the European
Economic Review. In ongoing research with Giacinta Cestone, he
studies the effect on shareholder value of the explicit protection of
non‑shareholder constituencies. The paper shows that the
introduction of stakeholder protection "rules" may deprive
managers of their grip on social activists, enhancing managerial
turnover and thus benefiting shareholders.
Hans Degryse
is
Associate Professor of Financial Economics at the Universities of
Leuven and Tilburg. During his stay at CSEF, he investigated banking
competition from different perspectives. In particular, he focussed on
two issues. First, he empirically examined the impact of distance
between borrowers and banks on loan pricing. Second, he explored the
issue of strategic information display about borrowers between banks.
More generally, his research interests include banking competition,
market microstructure and financial economics.
Michael Halling
is
Assistant Professor at the University of Vienna and a research
associate at the
Johannes
Kepler University of Linz.
He
received an MS and PhD in computer science from the Vienna University
of Technology and an MS in social and economic sciences from the
University of Vienna.
His
general research areas include equity and bond markets, the
reinsurance industry and auditor reputation.
In
2002 he
spent 2 months at CSEF. During his stay he investigated empirically
the dynamics of trading volume for a large sample of cross-listed
European companies.
Natalia
Utrero Gonzalez
has
spent the last term at CSEF after completing a Ph.D. at the
Universidad Carlos III de Madrid (Spain). Her fields of interest are
corporate finance, law and finance and banking. Last year she worked
on the papers: “Investor Protection, Banking Regulation,
Institutional Framework and Capital Structure: International Evidence
from Industry Data” and “Legal Environment, Capital Structure and
Firm Growth”, presented at the 28th European Financial
Association Annual Meeting in August 2002. Her current research
focuses on bank-firm relationships and the effects that banking
structure may have on the lending relationships.
2001
-
Klaus
Adam
has spent a year at CSEF after the completion
of a Ph.D. at the European University
Institute. His research interests include the
modelling of learning and adaptive expectations, the
economics of information
and uncertainty, and experimental economics, especially in the
context of macroeconomic models. His paper on “Learning while
Searching for the Best
Alternative” is forthcoming in
the Journal of Economic Theory. With Ramon Marimon
he has developed an innovative experimental software called
MacroLab, which is now available on the net at
http://www.csef.it/adam/macroLab/start.htm.
-
-
-
Stefan
Ambec has spent a year at CSEF after the completion
of a Ph.D. at
the University of Montreal. He has been
postdoctoral fellow at GREEN, University Laval, Canada. He is
currently researcher at French’s research institute INRA
localized at the University of Grenoble. His research applies
contract theory and game theory to different topics such as the
organization of R&D activities, informal financial agreement
in developing countries, water management, environmental
regulation and the allocation of control authority in
organizations. Among his papers, “Sharing a river” (joint with
Yves Sprumont) has been accepted for publication in the Journal
of Economic Theory, and “A theoretical Foundation of the
Porter Hypothesis” (joint with Philippe Barla) is forthcoming in
Economics Letters.
-
Nicolas
Boccard
has been a CSEF member from May
2000 to July 2001 and is currently assistant professor in economics at
the University of Girona, Spain. He had previously obtained a doctoral
degree at ENSAE-CREST in Paris in 1995 and held a position as Research
Fellow at CORE, Université de Louvain since then. In 2001 his
research has dealt with: 1) Corporate finance. His article on the
competition among financiers for the funding of start-ups has been
presented in December 2001 at the XXVI Simposio de Analisis Economico
in Alicante; 2) Fraud insurance and competition for customers, with P.
Legros of Ecares & CEPR; 3) Electricity. On top of his cooperation
with D. Benintendi of CORE on congestion management in the integrated
European market and the issue of market power of electricity, Nicolas
has been asked by the Fondazione Enrico Mattei (FEEM) to participate
in the shared-cost RTD actions of the EC titled “Policy and
Regulatory Roadmaps for the Integration of Distributed Generation and
the Development of Sustainable Electricity Networks”; 4)
Differentiation and imperfect competition. Several articles
co-authored with Xavier Wauthy from CORE and revised in 2001 will
appear in the Japanese Economic Review and the International
Journal of Industrial Organization next year.
Giovanni
Cespa is
Assistant Professor of Finance at Universitat Pompeu Fabra, Barcelona
and has spent 2 months at CSEF. During his stay he has investigated
dynamic and competitive aspects of the industry for the sale of
information in financial markets. More generally, his research
interests concern the areas of Market Microstructure theory and
Industrial Organization.
Giacinta
Cestone has spent 2 months at CSEF as a visiting researcher.
She is a research fellow at the Institut d’Anàlisi Econòmica (CSIC)
of Barcelona and a CEPR Research Affiliate. She holds a Ph.D. in
Economics from the Université de Toulouse. Her fields of interest are
corporate finance, contract theory, industrial organization and
banking theory. In previous work, she has analysed the interaction
between corporate financing decisions and product market competition,
addressing issues like the anti-competitive potential of financial
arrangements and the product market effects of internal capital market
allocations. She is currently studying contractual arrangements used
in venture capital financing. In a work in progress, she is analysing
the joint allocation of control and cash flow rights in venture
capital contracts. This work makes the novel point that risky
financial claims need not necessarily be associated to superior
control rights. (Venture Capital Meets Contract Theory: Risky
Claims or Formal Control?, 2001).
Elena
Del
Rey
joined CSEF in September 2000
after completing her Ph.D. at CORE, Université Catholique de Louvain (Belgium).
She had previously obtained an MA in Economics from Tufts University
(MA, USA) in 1996 and a Bachelor’s Degree in Economics from the Autónoma
University of Madrid in 1995. Two of the chapters of her dissertation
have been published this year in the Journal of Urban Economics and
Empirica. She attended the Conference of the International Institute
of Public Finance in Linz (Austria) and the CEPR/EPRU Meeting on Dynamic
Aspects of Public Expenditure in Copenhagen. At present, she holds an
Associate Professor position at the University of Girona (Spain).
Andrew
Ellul
completed his Ph.D. in Finance
at the London School of Economics and Political Science. He has served
as a Tutorial Fellow in Finance in the Department of Accounting and
Finance and as a Research Associate at the Financial Markets Group. At
the LSE, he taught courses in corporate finance and investment analysis
at the undergraduate and graduate levels. His research interests focus
on empirical market microstructure issues, mainly the provision of
liquidity in different trading systems, and corporate finance, with
particular attention to initial public offerings. He has won prizes for
best papers at Annual Meetings of the Eastern Finance Association (NASDAQ
Award for the paper “Inter-market Price and Volatility Impacts
Generated by Large Trades: The Case of European Cross-quoted Securities”)
and the Financial Management Association (Best Ph.D. Paper Award for the
paper “The Dealers Ride Again: Volatility and Order Flow Dynamics in a
Hybrid Market”). Andrew spent the Spring term at CSEF working with
Marco Pagano on a joint research project on Pension Funds, Trading and
Market Liquidity. He is currently Assistant Professor of Finance at
Indiana University’s Kelley School of Business.
Charles
Benedicte Grant is a graduate student from UCL, London
and has spent 4 months at CSEF. During his time here his research investigated whether the tax system helped agents
insure themselves against idiosyncratic labour market risks. He has also
studied has also has a paper in the working paper series investigating the
role of bankruptcy in helping agents smooth consumption. More
generally, his research interests concern consumer behaviour. He is currently a
research fellow at the EUI, Florence.
2000
-
Peghe Braila,
PhD by the Center of
Operations Research and Econometrics (CORE) at
the Université Catholique de Louvain (UCL), Belgium, has been a visiting researcher at CSEF
from October 1999 until August 2000. She is
mainly interested in the economics of financial markets, financial macroeconomics and monetary
economics. Her work focuses on general
equilibrium with incomplete markets and on the
effects of asymmetric information for monetary economies. While at CSEF she completed
"Asset Market Structure and Growth" (with Alessandro
Turrini, CSEF Working Paper n.
45) and "Money and Credit in a Production
Economy" (with Francesco Magris, CSEF
Working Paper n. 46). Last year she presented a
paper at the ASSET Meeting Conference in Tel Aviv
and attended the meetings of the Financial Group
organised by the CEPR at University Autonoma,
Barcelona and at the LSE, London. In the Spring
term she taught Economic Analysis at the Faculty
of Political Science of the University of
Salerno. She is currently an assistant research
professor at the Institute of Economics of the
University of Copenhagen, Denmark.
Aleix Calveras,
PhD by Universitat
Autònoma de Barcelona, has been at CSEF from
March through September 2000. His main area of
research is in banking, particularly banking
regulation and the interbank market. On this theme, he has studied for the European Commission
the Spanish deposit insurance scheme within a
larger project on European deposit insurance
mechanisms present throughout Europe. A second
line of research is industrial economics, in
particular issues of quality provision in the
tourism industry.
-
Charlotte
Ostergaard,
Ph.D. from Brown University and currently at the
Norwegian School of Management, has been at CSEF
as a Visiting Fellow in May and June 2000. Her
primary research areas are applied banking and
consumption analysis. While at CSEF she has
worked on the impact of liquidity constraints on
banks loan supply and is currently working
on the integration of regional bank loan markets.
Her research also includes work on the permanent
income hypothesis and the complete market hypothesis.
Giuliana Palumbo
has been a post-doctoral
research fellow at CSEF from July 1999 until July
2000. During this period she has worked on two
different projects. The first analyses the
industrial organization and contractual design
aspects of consumer credit supply across the EU.
In particular, the paper "Voluntary
Lender-Responsibility Agreements in the Consumer
Credit Market" (with Elisabetta Iossa,
Brunel University) analyzes the optimal link
between the sale and the credit contract when the
possibility of incomplete performance of the sale
contract is taken into account. The paper has
been presented in different seminars as well as
at the Annual Meeting of the European Economic
Association held in Bolzano in September 2000.
The second project is on the economics of
comparative legal and judicial systems. Some
preliminary results are contained in the paper
"Rule-Making and Optimal Delegation of
Information Acquisition".
Sébastien Pouget has been a TMR fellow at CSEF from
October 1999 to January 2001. He is currently working
toward the PhD in Financial Economics at Toulouse
University. His dissertation deals with bounded
rationality in financial markets. He uses experimental
methods to study the limits on traders cognition
and the influence of market institutions on individual rationality. The paper "Microstructure, Incentives
and the Discovery of Equilibrium in Experimental
Markets" (with Bruno Biais from Toulouse University)
was presented at the NBER Market Microstructure
Conference last May. The paper "Psychological Traits
and Trading Strategies" (with Bruno Biais, Denis
Hilton and Karine Mazurier) was presented at a TMR
workshop at the London School of Economics in March.
Otto Randl,
currently working on his
PhD at the University of Vienna, Austria, has
been a resident researcher at CSEF in February
2000 and participates in ongoing projects between
the University of Vienna and CSEF. He does
research in banking and corporate finance,
particularly on international cross-listings of
equity. He has presented a paper at the doctoral
tutorial of the European Finance Association's
annual meeting in London. The paper "What
Makes Stock Exchanges Succeed? Evidence from
Cross-Listing Decisions" (with M. Pagano, A.
Röell, and J. Zechner) is forthcoming in the European
Economic Review.
Alex Stomper,
PhD from the University
of Vienna, has been a researcher at CSEF from
February to April 2000. During this period he has
been worked on ongoing projects in the area of
the industrial organization of banking, and
particularly on the determinants of banks'
decisions to specialize in lending to borrowers
in certain industries. The question is of great
relevance for the credit risk these banks face
and, ultimately, for bank regulation. In
addition, he has started a new project on the
theory of the fee structure of stock exchanges.
Stéphane Straub has been visiting CSEF for
short periods in 1998, 99 and 2000. He is
currently working toward a Ph.D. at Toulouse
under the supervision of Jean-Jacques Laffont.
His research applies tools from development
economics and information and incentive economics
to study corruption, the quality of institutions
and international transfers of technology.
Previously he has been working for ten years in
Latin America; among others, he has been an entrepreneur, an advisor to the government of
Paraguay and an independent consultant for
international NGOs and multilateral institutions
like the Inter-American Development Bank.
Berthold U. Wigger, PhD from University of
Göttingen, Habilitation from University of
Mannheim, has been a researcher at CSEF from
November 1999 through March 2000. His work is on
public sector economics, especially on public
pension policies and reform. A major focus of the
research has been the normative and positive
impact of intergenerational transfers from a
macroeconomic point of view. While at CSEF, he
has revised the following papers
"Pareto-Improving Intergenerational
Transfers" (CSEF Working Paper n. 37,
forthcoming in Oxford Economic Papers),
"Growth and Social Security: The Role of
Human Capital" (with A. Kemnitz, CSEF
Working Paper no. 33, forthcoming in the European
Journal of Political Economy and "Gifts,
Bequests, and Growth" (CSEF Working Paper n.
31, forthcoming in the Journal of
Macroeconomics), and written "Trade
Union Objectives and Economic Growth (with A.
Irmen, CSEF Working Paper n. 34).
1999
Pierpaolo BENIGNO
(Princeton University)
International
macroeconomics and monetary economics
Javier GINER
(Universidad de la Laguna)
Option pricing models
Heidrun HOPPE
(Universtaet Hamburg)
Banking and market microstructures
Gyongyi LORANTH
(Université Libre de Bruxelles)
Corporate finance
Sandra MORINI
(Universidad de la Laguna)
Interest rates models
Giuliana PALUMBO
(Université Libre de Bruxelles)
Industrial organization
Luigi PISTAFERRI
(Stanford University)
Income dynamics, consumption and saving
Otto RANDL
(University of Wien)
Corporate finance and banking
Stephane STRAUB
(GREMAQ, Université des Sciences Sociales de Toulouse)
Financial intermediation and development
Thierry TRESSEL
(DELTA, Paris)
Financial intermediaries and growth
Lucy WHITE
(Nuffield College, Oxford)
Applied game theory and corporate finance
Josef ZECHNER
(University of Wien)
Corporate finance and banking

1998
Orazio ATTANASIO
(University College London)
Microeconometrics of consumption
Marie Edith BISSEY
(University of York)
Experimental economics
Aleix CALVERAS
(Universitat Autònoma de Barcelona)
Industrial organization and banking
Giacinta Cestone
(Université de Toulouse)
Industrial organization and finance
Michael HALIASSOS
(University of Cyprus and IMOP, Athens)
Saving and portfolio choice
Christis HASSAPIS
(University of Cyprus)
Saving and portfolio choice
Davide LOMBARDO
(Stanford University)
Finance and macroeconomics
Michael MANOVE
(Boston University)
Industrial organization and banking
Jorge PADILLA
(CEMFI, Madrid)
Industrial organization and banking
Luigi PISTAFERRI
(University College London)
Income dynamics and consumption
Stephane STRAUB
(Planning Ministry of Paraguay and UNDP)
Financial intermediation and development
Thierry TRESSEL
(DELTA, Paris)
Financial intermediaries and growth
Josef ZECHNER
(Universität Wien)
Corporate finance and banking