One of the most highly renowned prizes in economics will be awarded today when Michael Woodford, Professor of Political Economy at Columbia University in New York, receives the Deutsche Bank Prize in Financial Economics 2007. The prize, presented by the Center for Financial Studies (CFS) in cooperation with the University of Frankfurt, is sponsored by the Deutsche Bank Donation Fund and endowed with €50,000. To mark the prize award ceremony, an international symposium is to be held in Frankfurt on the theory and practice of current monetary policy, and the hypotheses of Woodford's work will be reviewed and critically discussed.

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