The next 50th years of financial economics

Thursday, August 17, 2023

The EFA 2023 will host a panel of Nobel laureates to discuss the next 50 years of financial economics to celebrate the 50th Annual Meeting.

Panelists

Douglas W. Diamond (invited)

Douglas W. Diamond is the 2022 recipient of the Nobel Memorial Prize in Economic Sciences for his groundbreaking research on banks and financial crises.  He specializes in the study of financial intermediaries, financial crises, and liquidity. Diamond is the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business. He has been on the faculty since 1979. Diamond is a research associate of the National Bureau of Economic Research. He is a member of the National Academy of Sciences, is a fellow of the Econometric Society, the American Academy of Arts and Sciences, and the American Finance Association and was president of the American Finance Association and the Western Finance Association. Diamond received the Onassis Prize in Finance in 2018, the CME Group- Mathematical Sciences Research Institute Prize in Innovative Quantitative Applications in 2016 and the Morgan Stanley-American Finance Association Award for Excellence in Finance in 2012.

He has taught at Yale and was a visiting professor at the MIT Sloan School of Management, the Hong Kong University of Science and Technology as well as the University of Bonn. Diamond earned a bachelor’s degree in economics from Brown University in 1975. He earned master’s degrees in 1976 and 1977 and a PhD in 1980 in economics from Yale University.

Oliver Hart (confirmed)

Oliver Hart is currently the Lewis P. and Linda L. Geyser University Professor at Harvard University, where he has taught since 1993. He is the 2016 co-recipient of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.  Hart’s research centers on the roles that ownership structure and contractual arrangements play in the governance and boundaries of corporations. His recent work focuses on how parties can write better contracts, and on the social responsibility of business. He has published a book (Firms, Contracts, and Financial Structure, Oxford University Press, 1995) and numerous journal articles. He has used his theoretical work on firms and contracts in several legal cases. He is a Fellow of the Econometric Society, the American Academy of Arts and Sciences, the British Academy, and the American Finance Association, a member of the National Academy of Sciences, a Distinguished Fellow of the American Economic Association, and has several honorary degrees. He has been president of the American Law and Economics Association and a vice president of the American Economic Association.

Bengt Robert Holmström (confirmed)

Bengt Robert Holmström is the Paul A. Samuelson Professor of Economics, Emeritus, at Massachusetts Institute of Technology, where he was head of the Economics Department from 2003-2006. He held a joint appointment with MIT’s Sloan School of Management. Since 2021, he has been a part-time Professor at the School of Transnational Governance at the European Institute University in Florence.

He received his doctoral degree from Stanford University in 1978. Before joining MIT in 1994, he was the Edwin J. Beinecke Professor of Management at Yale University’s School of Management (1983-94) and associate professor at the Kellogg Graduate School of Management at Northwestern University (1979-82).

Holmström is a microeconomic theorist, best known for his research on the theory of contracting and incentives especially as applied to the theory of the firm, to corporate governance and to liquidity problems in financial crises. In 2011, he co-authored the book Inside and Outside Liquidity with Jean Tirole.

He was awarded the 2016 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for his contributions to contract theory (together with Oliver Hart).

He is a former board member of the Nokia Corporation (1999-2012) and Aalto University (2010-2017) and serves on several academic advisory boards, including Toulouse School of Economics and Luohan Academy.