Chilean economist Ricardo Caballero, a professor at MIT, receives the King of Spain Economics Prize on its 40th anniversary. The award is endowed with 72,000 euros.
The jury of the King of Spain Economics Prize has awarded the prize to Chilean economist Ricardo Caballero for his "brilliant academic and research career," as reported by the Bank of Spain. The decision coincides with the 40th anniversary of an award created by the José Celma Prieto Foundation and first awarded in 1986.
Caballero has been the Ford International Professor of Economics at the Massachusetts Institute of Technology (MIT) since 2000. He previously taught at Columbia University and has worked as a consultant for the International Monetary Fund, the World Bank, the Inter-American Development Bank, and the Federal Reserve Bank of Chicago. This information has been disseminated by diariosigloxxi.com.
A specialist in macroeconomics, finance, and international economics, his research has focused on financial crises, international capital flows, safe assets, global imbalances, monetary policy, and the interactions between financial markets and the real economy. The jury has valued his influence on other macroeconomists, with over 40,000 academic citations.
Among his contributions are the theory of global scarcity of safe assets, the analysis of global imbalances and persistently low interest rates, and the development of 'risk-centric macroeconomics', a framework for understanding financial crises, recessions, and episodes of macroeconomic instability.
Caballero is a fellow of the Econometric Society and the American Academy of Arts and Sciences. He has received the Frisch Medal from the Econometric Society (2002), the Smith Breeden Prize from the American Finance Association (2008), the Brattle Group Prize from the Journal of Finance (2014), and the Banque de France-Toulouse School of Economics Senior Prize in Monetary Economics and Finance (2022).
The prize, which is awarded biennially, has a monetary endowment of 72,000 euros. The winner also receives a replica of the work 'Mercury', by sculptor Francisco López Hernández (Madrid 1932-2017).
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