Award-winning economist Markus Brunnermeier appointed MAS Term Professor at NUS Business School
Singapore, 18 May 2018…The National University of Singapore (NUS) and the Monetary Authority of Singapore (MAS) have jointly appointed Edwards S. Sanford Professor of Economics at Princeton University, Markus Brunnermeier, the MAS Term Professor in Economics and Finance from 18 to 25 May 2018. The NUS Business School and the Economic Policy Group at the MAS will jointly host Prof Brunnermeier during the term of the appointment.
As MAS Term Professor, Prof Brunnermeier will be involved in various sharing sessions with NUS faculty and students while also engaging senior policymakers, economists and financial regulators at MAS. He will participate in the annual Asian Bureau of Finance and Economic Research (ABFER) Conference that promotes Asia-Pacific-oriented financial and economic research. At the conference, he will share his expert views as a panelist at the ABFER-GIC Industry Panel and Roundtable 2018 to discuss the disruption and implications of FinTech.
Professor Brunnermeier will also participate in the 5th Asian Monetary Policy Forum (AMPF) on 25 May 2018. Organised under the auspices of ABFER by the University of Chicago Booth School of Business, NUS Business School and MAS, this forum brings together high-level central bankers, academics and private sector analysts to share perspectives on pressing monetary policy issues in Asia. At the AMPF, Professor Brunnermeier will discuss the commissioned paper by Dr Hyun Song Shin on “Retrospective on the 1997 Asian Financial Crisis Through the Lens of the BIS International Banking and Financial Statistics”.
Prof Brunnermeier was the recipient of the Germán Bernácer Prize awarded to the best European economist under 40 in macroeconomics and finance, in recognition of his research on the emergence and persistence of asset price bubbles, the causes of liquidity crises in financial markets, and the implications of these phenomena for risk management and financial regulation.
Since then, he has gone on to helm the Julis-Rabinowitz Center at the Woodrow Wilson School, and is currently the Director of Princeton’s Bendheim Center for Finance. Prof Brunnermeier is also a research associate at the National Bureau of Economic Research, the Centre for Economic Policy Research, and the CESifo Group.
His latest book The Euro and the Battle of Ideas examines the philosophical differences between the founding countries of the Eurozone, and whether the common currency will survive in the face of economic difficulties within the bloc.
Professor Bernard Yeung, Dean and Stephen Riady Distinguished Professor at NUS Business School, said, “It is our privilege to welcome Prof Markus Brunnermeier to NUS Business School. Prof Brunnermeier has made outstanding contributions in the fields of macroeconomics and finance and has been serving on esteemed advisory groups including the International Monetary Fund, the Federal Reserve of New York and the European Systemic Risk Board. I am excited to have him visit us as his interaction with our faculty and students will enhance our research capabilities. I am certain he will also have meaningful discussions with our policymakers.”
Mr Edward Robinson, Assistant Managing Director (Economic Policy) and Chief Economist at MAS, said, “Professor Markus Brunnermeier has published extensively on financial stability issues, financial regulation and monetary policy. He is at the forefront of ground-breaking new research straddling the fields of macroeconomics and finance, directly addressing the questions thrown up in part by the Global Financial Crisis on the workings of financial markets and how they interact with the real economy in both normal times and during crises. Professor Brunnermeier’s contribution to the measurement of systemic financial risk is also notable. His work with Tobias Adrian on the CoVaR measure capturing the negative externalities to the broader economy of a fall in bank capital has provided financial regulators with a new and important tool to monitor the evolution of risks. It is a great privilege to welcome him as the MAS Term Professor and we look forward to engaging and learning from such a distinguished scholar.”
About the MAS Term Professorship in Economics and Finance
First established in 2009, the MAS Term Professorship in Economics and Finance is awarded to distinguished scholars, who are appointed as Visiting Professors at either the NUS Business School or the Department of Economics at the NUS Faculty of Arts and Social Sciences. It aims to strengthen Singapore’s financial and economics research infrastructure and contribute to a vibrant research community and culture at local universities.
The MAS Term Professorship in Economics and Finance has been awarded to 18 distinguished scholars over the last nine years.
About National University of Singapore (NUS)
A leading global university centred in Asia, the National University of Singapore (NUS) is Singapore’s flagship university, which offers a global approach to education and research, with a focus on Asian perspectives and expertise.
NUS has 17 Faculties and Schools across three campuses. Its transformative education includes a broad-based curriculum underscored by multidisciplinary courses and cross-faculty enrichment. Over 38,000 students from 100 countries enrich the community with their diverse social and cultural perspectives. NUS also strives to create a supportive and innovative environment to promote creative enterprise within its community.
NUS takes an integrated and multidisciplinary approach to research, working with partners from industry, government and academia, to address crucial and complex issues relevant to Asia and the world. Researchers in NUS’ Faculties and Schools, 30 university-level research institutes and centres, and Research Centres of Excellence cover a wide range of themes including: energy, environmental and urban sustainability; treatment and prevention of diseases common among Asians; active ageing; advanced materials; risk management and resilience of financial systems. The University’s latest research focus is to use data science, operations research and cybersecurity to support Singapore's Smart Nation initiative.
About Monetary Authority of Singapore
As Singapore’s central bank, the Monetary Authority of Singapore (MAS) promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities. It manages Singapore's exchange rate, foreign reserves and liquidity in the banking sector. MAS is also an integrated supervisor overseeing all financial institutions in Singapore — banks, insurers, capital market intermediaries, financial advisors, and the stock exchange. Being an integrated supervisor allows the MAS to adopt a consistent and progressive regulatory and supervisory approach and framework, thereby ensuring a level playing field across all market segments, sectors and activities. With its mandate to foster a sound and progressive financial services sector in Singapore, MAS also helps shape Singapore’s financial industry by promoting a strong corporate governance framework and close adherence to international accounting standards. In addition, it spearheads retail investor education. MAS ensures that Singapore’s financial industry remains vibrant, dynamic and competitive by working closely with other government agencies and financial institutions to develop and promote Singapore as a regional and international financial centre.