European Central Bank Recognizes MFM Fellows’ Research

Student research supported by the Becker Friedman Institute’s Macro Financial Modeling Initiative was recently recognized at the European Central Bank’s 2016 forum in Sintra, Portugal.

The ECB honored MFM Fellow Matteo Crosignani’s research as the top paper by a young economist. Crosignani, a Ph.D. candidate at New York University Stern School of Business, wrote about the effect of the ECB’s quantitative easing program in “The Effect of Central Bank Liquidity Injections on Bank Credit Supply.” Crosignani previously won an MFM dissertation fellowship to advance this work.

A committee of senior ECB staff and leading academics chose his paper from among 10 finalists written by promising young economists. The 10 finalists presented their research at the meeting before an audience of academics and central bankers, including ECB head Mario Draghi. Another MFM Fellow, Simone Lenzu, a Ph.D. candidate at the University of Chicago, was also named to this group of finalists for his paper, “Sovereign Debt Exposure and the Bank Lending Channel: Impact on Credit Supply and the Real.”

Lenzu noted that he felt the support he received through his MFM fellowship played a valuable part in this opportunity. “I think this is a great testimony of the role the MFM group is playing in supporting young scholars and fostering valuable research in macrofinance.”

The theme of this year’s annual ECB forum was “The Future of International Money and Financial Architecture,” which drew 150 academics, central bankers, and executives to discuss advances in policymaking, finance, and economics. 

— Jennifer Roche