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Faculty News January 16, 2024

Watch: Markus Brunnermeier Delivers 2024 AFA Presidential Address

On January 5th, thousands of economists gathered in San Antonio, Texas for the annual meetings of the American Finance Association (AFA). The AFA meetings provide members of the field with the opportunity to present research and collaborate with colleagues from across the country. 

On the second day of the meetings, AFA President and Princeton Professor Markus Brunnermeier delivered the 2024 Presidential Address.

In her introductory remarks to Brunnermeier’s address, AFA President-Elect and Stanford Professor Monika Piazzesi said that Brunnermeier’s “body of work has had a big impact on our thinking about financial crises.”

Building on this impact, Brunnermeier spoke about resilience and macrofinance, and the difference between risk-management and resilience-management. Watch the entire address below.

About Markus Brunnermeier

Markus K. Brunnermeier is the Edwards S. Sanford Professor in the economics department at Princeton University and director of Princeton’s Bendheim Center for Finance. His research focuses on international financial markets, monetary theory, and macroeconomics with special emphasis on bubbles, liquidity, financial crises and digital money. He established the webinar series as a platform for leading thinkers. Brunnermeier was awarded his PhD by the London School of Economics (LSE) and a Doctor honoris causa from the University of Regensburg. His award winning books include “A Crash Course on Crises”, “The Resilient Society”, and “The Euro and the Battle of Ideas.”

In addition to serving as president of the American Finance Association, he is a nonresident senior fellow at the Peterson Institute, a research associate at the National Bureau of Economic Research, the Centre for Economic Policy Research, CESifo, ABFER, and a member of the Bellagio Group on the International Economy. He is a Sloan Research Fellow, fellow of the Econometric Society, Guggenheim Fellow, and the recipient of the Bernácer Prize granted for outstanding contributions in the fields of macroeconomics and finance. He is a member of several advisory groups, including to the US Congressional Budget Office, the Bank for International Settlements, Bank of Japan, and the Bundesbank as well as previously to the International Monetary Fund, the Federal Reserve of New York, the European Systemic Risk Board.

He has been awarded several best paper prizes and served on the editorial boards of a number of leading economics and finance journals. He has worked to establish the concepts of: liquidity spirals, Financial Dominance, CoVaR as a measure of systemic risk, the Volatility Paradox, Paradox of Prudence, Resilience, European Safe Bonds (ESBies), the redistributive monetary policy, the Reversal Rate, and Digital Currency Areas.

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