Lasse H. Pedersen, winner of 2011 Bernácer Prize

The Committee Members of the 2011 Bernácer Prize have the pleasure of announcing that:

'The 2011 Bernácer Prize has been awarded to Prof. Lasse H. Pedersen (Stern School of Business, NYU) 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'

The Committee is made up of Vítor Constancio (Chair); Prof. Juan J. Dolado (Secretary), Prof. Francesco Giavazzi, Prof. Jordi Galí, Prof. Edward C. Prescott, Prof. Eduardo Schwartz, Dr. José Viñals and Prof. Charles Wyplosz.

The prize will be delivered to Lasse H. Pedersen by the Governor of Banco de España, Luis María Linde, in presence of Vítor Constancio, Vice President of the ECB, in Madrid on June 28th

Background and Research Interests

Lasse H. Pedersen (Denmark) is the John A. Paulson Professor of Finance and Alternative Investments at NYU Stern. He received his B.Sc. and M.Sc. in Mathematic-Economics from University of Copenhagen and his h.D (2001) from Stanford Graduate Business School. He has been awarded the 2005 Fama/DFA First Prize for the best paper in the Journal of Financial Economics. He also serves on the New York Fed’s Monetary Policy Panel, on the Board of Directors of the American Finance Association, the Economic Advisory Boards of NASDAQ and FTSE, as a principal at AQR Capital Management, and as associate editor at The Journal of Finance, Journal of Economic Theory, and The Review of Asset Pricing Studies. .His research has often been featured in The Economist, WSJ, FT, etc.

He has published widely cited papers in leading journals like American Economic Review, Econometrica, Journal of Finance and the Journal of Financial Economics, among others.