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Monika Piazzesi Wins 2006 Elaine Bennett Prize


Monika Piazzesi, a professor of finance at the University of Chicago Graduate School of Business, has been selected as the 2006 recipient of the Elaine Bennett Research Prize by the American Economic Association's Committee on the Status of Women in the Economics Profession.

The award is given once every two years in recognition of outstanding research in any field of economics by a woman at the beginning of her career.

Of the five women who have received the award since it was established in 1998, three were members of the Chicago GSB faculty when they won: Judith Chevalier in 1998, Marianne Bertrand in 2004 and Piazzesi in 2006.

Bertrand is the Fred G. Steingraber/A.T. Kearney Professor of Economics at Chicago GSB. Chevalier was a professor of economics at Chicago GSB and is now at the Yale School of Management. The other two previous winners of the Bennett Prize were Esther Duflo from MIT in 2002 and Susan Athey from Stanford in 2000.

Piazzesi, who also is the John Huizinga Faculty Fellow at Chicago GSB, is a macroeconomist who specializes in financial economics and applied time series analysis. She has developed influential models of the yield curve for bonds, incorporating crucial macroeconomic factors such as the actions of central banks and measures of business cycle fluctuations. The Federal Reserve has changed its forecasting models directly in response to her research.

During the winter quarter Piazzesi will teach a course in financial instruments where students learn how to determine the price of derivative securities such as options, futures, forward contracts and swaps. The course will be taught in the evening MBA program and the full-time MBA program.

Earlier this year Piazzesi won the Bernacer Prize as the best European economist under the age of 40 focusing on finance or macroeconomics. She is an Alfred P. Sloan Research Fellow and previously was a Houblon-Norman Fund Fellow at the Bank of England. She received a Ph.D. in economics from Stanford University.

Piazzesi will receive the award January 5 during a ceremony in Chicago at the annual meeting of the American Economics Association's Committee on the Status of Women in the Economics Profession.

The University of Chicago Graduate School of Business is one of the oldest and largest business schools in the world. It offers full-time and part-time MBA programs, a Ph.D. program, open enrollment executive education and custom corporate education. The school has campuses in London and Singapore in addition to two campuses in Chicago.