Kenneth Rogoff receives the Deutsche Bank Prize in Financial Economics

September 22, 2011 │ Frankfurt

Kenneth Rogoff was awarded the Deutsche Bank Prize in Financial Economics 2011 by Dr. Josef Ackermann at an academic symposium. Rogoff is Professor of Economics and Thomas D. Cabot Professor of Public Policy at Harvard University in Cambridge, Massachusetts.

“Kenneth Rogoff’s research tells us that the crisis currently gripping the entire credit structure at the core of the world economy is likely to lead to less liberal financial markets, both nationally and internationally, to explicit debt restructuring, both public and private, and to new monetary and fiscal arrangements. His research also tells us that a remedy to this epochal crisis will require a comprehensive approach that brings our economies onto a slow and tortuous path towards debt sustainability,” said Dr. Josef Ackermann, Chairman of the Management Board and the Group Executive Committee, during the award ceremony.

The Deutsche Bank Prize in Financial Economics is awarded every other year by the Center for Financial Studies (CFS) in partnership with the Goethe University Frankfurt. It is sponsored by the Deutsche Bank Donation Fund and endowed with €50,000.

Rogoff received the award for his pioneering work in the area of international finance and macroeconomics. “Kenneth Rogoff’s work on sovereign default and debt restructuring, global imbalances, exchange rates and the history of financial crises is highly relevant for understanding and addressing today’s global challenges,” said Jury Chairman and CFS Director Uwe Walz in a comment on the jury’s selection. “Kenneth Rogoff has not only contributed pioneering work of the greatest academic importance, he has also made his findings accessible to a broad public.”

Kenneth Rogoff is viewed as a leading expert on international microeconomics. The empirical, theoretical and historical work of the renowned economist covers research on exchange rates, credibility of monetary policy, the independence of central banks, sovereign debt and the history of financial crises.

Further Information

Press release
Opening Remarks by Dr. Josef Ackermann
Interview with the winner of the Deutsche Bank Prize in Financial Economics 2009 Prof. Robert J. Shiller
Center for Financial Studies (CFS)