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2021 CME Group - MSRI Prize May 16, 2022 (08:00 AM PDT - 01:00 PM PDT)
Parent Program: --
Location: Chicago, IL

2021 CME Group-MSRI Prize Announced

 Press release forthcoming

The 15th annual CME Group-MSRI Prize in Innovative Quantitative Applications will be awarded to Nancy L. Stokey. The award announcement and seminar will be held on May 16, 2022 at the CME Group in Chicago, IL.

The CME Group-MSRI Prize is awarded to an individual or a group to recognize originality and innovation in the use of mathematical, statistical or computational methods for the study of the behavior of markets, and more broadly of economics.

About Nancy L. Stokey

Nancy L. Stokey is the Frederick Henry Prince Distinguished Service Professor of Economics, University of Chicago.  Stokey is a member of the National Academy of Sciences and of the American Academy of Arts and Sciences, a Fellow of the Econometric Society, a Distinguished Fellow of the American Economic Association, and the 2021 President of the Society for the Advancement of Economic Theory.  She has served as co-editor of Econometrica and of The Journal of Political Economy, and as vice-President of the American Economic Association.

Stokey is co-author of the influential monograph Recursive Methods in Economic Dynamics (1989), which has provided the mathematical basis for much of modern macroeconomics. She is also co-developer of a model of dynamic taxation and debt policy that has served as the foundation for much subsequent work in that area, and she is author of The Economics of Inaction (2009), which treats models that involve fixed costs of adjustment.

Stokey has also contributed to various areas of microeconomics, with the first rigorous proof of the famous Coase conjecture, and as co-developer of the No-Trade theorem, a result that presents a fundamental puzzle about information, stock market prices, and the volume of trading.

Stokey’s recent work has focused on economic growth and development, especially on the role of trade and technology transfers in accelerating growth in middle-income countries.

About the event

The event will feature a panel discussion on  Macro Risks and Deglobalization with the following panelists:

  • Mikhail Golosov, Homer J. Livingston Professor of Economics & the College, University of Chicagp Department of Economics (moderator)
  • Randall S. Kroszner, Deputy Dean for Executive Programs and Norman R. Bobins Professor of Economics, University of Chicago Booth School of Business (panelist)          
  • Anna Paulson, Executive Vice President & Director of Research, Federal Reserve Bank of Chicago (panelist)
  • Raghuram Rajan, Katherine Dusak Miller Distinguished Service Professor of Finance, University of Chicago Booth School of Business (paneilst)     

A special guest speaker will present on the prizewinner's work:

  • Esteban Rossi-Hansberg, Glen A. Lloyd Distinguished Service Professor, University of Chicago Department of Economics

CME Group-MSRI Prize 2021  Selection Committee:

  • Susan Athey, The Economics of Technology Professor; Professor of Economics (by courtesy), School of Humanities and Sciences; and Senior Fellow, Stanford Institute for Economic Policy Research, Stanford Business School; 2019 CME Group-MSRI Prizewinner
  • Douglas Diamond, Merton H. Miller Distinguished Service Professor of Finance, University of Chicago Booth School of Business; 2015 CME Group-MSRI Prizewinner
  • David Eisenbud,  prize committee chair; Director, MSRI; and, Professor of Mathematics, University of California, Berkeley
  • Jack Gould, Steven G. Rothmeier Professor and Distinguished Service Professor of Economics, University of Chicago Booth School of Business
  • Lars Peter Hansen, David Rockefeller Distinguished Service Professor in Economics, Statistics, University of Chicago Booth School of Business & The College; 2013 Nobel Prizewinner; 2008 CME Group-MSRI Prizewinner
  • R. Preston McAfee, Distinguished Scientist, Google
  • Leo Melamed, Chairman Emeritus, CME Group; and, Chairman and CEO of Melamed & Associates, Inc.
  • Paul Milgrom, Shirley R. and Leonard W. Ely Jr. Professor of Humanities and Sciences, School of Humanities and Sciences; Professor of Management Science and Engineering (by courtesy), School of Engineering; and, Senior Fellow, Stanford Institute for Economic Policy Research; 2020 Nobel Prizewinner; 2017 CME Group-MSRI Prizewinner
  • Roger Myerson, David L. Pearson Distinguished Service Professor of Global Conflict Studies, University of Chicago Harris School of Public Policy & Griffin Department of Economics; 2007 Nobel Prizewinner
  • Bluford Putnam, Managing Director and Chief Economist of CME Group
  • Myron Scholes, Frank E. Buck Professor of Finance, Emeritus, Stanford Graduate School of Business. 1997 Nobel Prizewinner
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