Announcing the "Ieke van den Burg Prize for Research on Systemic Risk" awarded by the ESRB Advisory Scientific Committee.
The European Systemic Risk Board (ESRB) is an EU body with a mission to prevent and mitigate systemic risks to financial stability. The ESRB is chaired by the President of the European Central Bank, Mario Draghi, and its membership incorporates central banks and micro-prudential supervisors from across the EU.(The EU regulation establishing the ESRB is available here: https://www.esrb.europa.eu/shared/pdf/ESRB-en.pdf.) The ESRB also comprises an Advisory Scientific Committee (ASC), formed by 15 academics and practitioners appointed for their financial expertise. (The current members of the ASC are: Marco Pagano (Chair), Javier Suarez (Vice-Chair), Elena Carletti, Alberto Giovannini, Daniel Gros, Malcolm Kemp, Ross Levine, Jose-Luis Peydro, Richard Portes, Isabel Schnabel, Dirk Schoenmaker, David Thesmar, Ernst-Ludwig von Thadden, Josef Zechner. The list of ASC members is also available here: https://www.esrb.europa.eu/pub/pdf/other/2015-04-20_Members_ESRB_ASC_2015_new.pdf.)
PRIZE FOR RESEARCH ON SYSTEMIC RISK: The ESRB's ASC will award a prize to recognise outstanding research conducted by young scholars on a topic related to the ESRB's mission. The annual prize has been established in memory of Ieke van den Burg, who was a member of the inaugural ASC between 2011 and 2014 and a member of the European Parliament between 1999 and 2009.( 3 The prize is envisaged to run annually for a period of five years, and will be reviewed after that time.) Ms van den Burg was dedicated to the notion that finance should serve society, and this prize is administered in that spirit.
AGE AND CONTENT CRITERIA: Applicants must be under 35 years old on 31 December 2015. Both single-authored and co-authored papers may be submitted for consideration, but all authors of a submitted paper must comply with the under-35 age requirement.
Applicants must submit a completed paper on a topic related to the ESRB's mission of preventing and mitigating systemic risks to financial stability. In particular, applications are invited from authors of papers covering at least one of the following topics:
- the role of macro-prudential policy;
- regulatory issues in banking and finance;
- financial instability and performance of the real economy - genesis of financial crises and identification of systemic risk;
- consumer protection in financial markets.
PRIZE AWARD: The ASC will select the winning paper, based on its judgement of the paper that represents an outstanding contribution to a topic of interest and relevance to the ESRB. The author(s) of the winning paper will be expected to present their research at an ESRB conference on 6 September 2016.
The prize amounts to Euro 5,000, and is intended to support the research activities of the recipient(s). This total cash award is the same for single- and co-authored papers. In the latter case, the total cash is paid proportionally to each author.
PAPER SUBMISSION PROCEDURE: Applications should be submitted by email to ESRB-ASC_Prize@ecb.europa.eu. The application should consist of (i) a completed paper; and (ii) a scanned copy of the passport or identification card of all of the paper's authors. The two attachments should be in .pdf format. All personal data will be processed in accordance with EU Data Protection Law (Regulation EC No. 45/2001).
The deadline for applications is 31 March 2016, midnight CET.
Personal data will be used exclusively for selecting a paper to be awarded the prize. The ESRB shall be identified as controller for the processing of personal data related to this selection procedure, and the Head of the ESRB Secretariat as the function in charge of the unit entrusted with the processing. Candidates have a right to access their data and to update or correct their identification data and are entitled to have recourse at any time to the European Data Protection Supervisor (for further information please refer to the Decision ESRB/2012/1 of the European Systemic Risk Board of 13 July 2012 implement rules on data protection at the European Systemic Risk Board, Official Journal C286 of 22.9.2012, p. 16).