University of Chicago Professor Greg Kaplan and Princeton University Professors Benjamin Moll and Gianluca Violante have been awarded the 2019 Central Banking Award for Economics in Central Banking.
This prestigious award is given to the authors of the speech, paper, report, presentation or other media that the judges of the Central Banking Awards feel makes the most significant contribution to economics within the field of central banking.
Kaplan, Moll, and Violante were granted this prestigious award for their paper, “Monetary policy according to Hank,” which the Central Banking Awards describe as boosting “the realism of core economic models, delivering important insights into inequality and the transmission of monetary policy.”
Professor Kaplan is the co-director of the Becker Friedman Institute’s Macroeconomic Research Initiative, which aims to support research in the area of macroeconomics within the Chicago economics community.
“It is terrific that Greg’s vital work is being recognized outside of academia,” said Michael Greenstone, Director of the Becker Friedman Institute and the Milton Friedman Distinguished Service Professor in Economics, the College, and the Harris School. “Greg is a prime example of BFI’s focus on developing new ideas and ensuring that those ideas create an impact in the broader world.”
“Greg’s research has resulted in key insights into monetary policy,” said Erik Hurst, Deputy Director of BFI and the V. Duane Rath Professor of Economics at the Booth School of Business. “We are excited that his important work has been embraced by the Central Banking community.”
On August 4-8, 2019, Kaplan and Moll will lead BFI’s first master class, “Monetary and Fiscal Policy with Heterogeneity.” They have designed the class for researchers in central banks and other government and non-government agencies who wish to improve their understanding of state-of-the-art tools for incorporating income and wealth distributions into macroeconomic models. The class will be held on the University of Chicago’s campus.