CHICAGO, May 16, 2022
/PRNewswire/ -- CME Group, the world's leading derivatives
marketplace, and the Mathematical Sciences Research Institute
(MSRI), today announced that Nancy
Stokey, Frederick Henry Prince Distinguished Service
Professor of Economics, University of
Chicago, is the recipient of the 2021 CME Group-MSRI
Innovative Quantitative Applications Prize for her work in
economics and mathematics.
The CME Group-MSRI Prize recognizes individuals who contribute
original concepts in mathematical, statistical or computational
methods for the study of markets' behavior and global economics.
Stokey's recent work has focused on economic growth and
development, as well as the role of trade and technology transfers
in accelerating growth in middle-income countries.
Previous winners of the CME Group-MSRI Prize include
distinguished luminaries in economics and mathematics. Seven out of
15 past recipients have gone on to receive the Nobel Prize in
Economic Sciences. A complete list of past recipients is available
at msri.org.
"It is a great honor to receive this prize: the past winners are
a group that any economist would be proud to join," said Stokey.
"The focus of the prize on mathematical and quantitative methods
makes it particularly meaningful. The rigor that mathematical
models demand has been a critical component of the development of
economics. Without models and frameworks that are common across
applications and questions, economics would not be a science."
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.
Stokey has served as co-editor of "Econometrica" and "The
Journal of Political Economy" and as vice president of the American
Economic Association. She is the author of "The Economics of
Inaction" (2009) and co-author of the influential monograph
"Recursive Methods in Economic Dynamics" (1989).
Stokey earned a bachelor's degree in economics from the
University of Pennsylvania and a doctor
of philosophy degree from Harvard
University. She also received an honorary doctor of law
degree from the University of Western
Ontario.
"We are delighted to recognize Professor Stokey for her
achievements in economics and mathematics," said Leo Melamed, Chairman Emeritus of CME Group.
"Over the course of her career, Professor Stokey has led
substantial research efforts that have helped shape the dialogue on
global economic growth, evolving market dynamics as well as fiscal
and monetary policy.
"This year's MSRI Award coincides with the 50th Anniversary of
the International Monetary Market and the birth of Financial
Futures," he added. "Nobel Laureate Merton Miller named the IMM and
its financial futures, 'the most significant innovation of the past
two decades, one which ushered in the modern era of finance.' The
IMM became the crucible of new ideas and innovations, paving the
way not only for other financial futures, but also helping advance
the understanding of the futures industry by instituting
educational programs globally. These efforts included a number of
CME Group Prizes, such as the annual Melamed-Arditti Innovation
Award and the MSRI Prize in Innovative Quantitative
Applications."
"It gives me tremendous pleasure to announce that Professor
Stokey will be the winner of the CME Group-MSRI Prize this year,"
said David Eisenbud, Director of
MSRI and Professor of Mathematics at the University of California, Berkeley. "Her
fundamental work on economic dynamics is part of the mathematical
backbone of modern macroeconomics, and her work on the role of
trade in the growth of economies could not be more timely."
The CME Center for Innovation's mission is to identify, foster
and showcase examples of significant innovation and creative
thinking pertaining to markets, commerce or trade in the public and
private sectors. For more information on the CME Center for
Innovation, visit
http://www.cmegroup.com/company/center-for-innovation/.
About MSRI
The Mathematical Sciences Research Institute (MSRI) in
Berkeley, California, is one of
the world's preeminent centers for collaborative research in the
mathematical sciences. MSRI advances mathematical research through
workshops and conferences since its founding in 1982, and over
1,700 mathematicians are hosted by MSRI each year. A rotating
committee of renowned mathematical scientists governs the
Institute's scientific program with a vision of the field that is
perpetually renewed. A Board of Trustees, composed of accomplished
business and academic leaders, oversees the Institute's strategy,
and assures its operational and financial welfare. The Institute
has been funded primarily by the National Science Foundation with
additional support from other government agencies, private
foundations, corporations, individual donors, and over 100 academic
institutions.
MSRI also serves a wider community through the development of
human scientific capital, providing postdoctoral training to
extraordinary young scientists and increasing the diversity of the
research workforce. The Institute advances the education of young
people with conferences on critical issues in mathematics education
and the creation of a nationwide Math Circles movement engaging
children in math as a hobby. MSRI strives to make mathematics
accessible and exciting to those outside the field through the
National Math Festival, sponsorship of Numberphile, YouTube's most
popular informal mathematics channel, film production for public
television, and the Mathical Book Prize for youth literature.
www.msri.org
About CME Group
As the world's leading derivatives marketplace, CME Group
(www.cmegroup.com) enables clients to trade futures, options, cash
and OTC markets, optimize portfolios, and analyze data – empowering
market participants worldwide to efficiently manage risk and
capture opportunities. CME Group exchanges offer the widest range
of global benchmark products across all major asset classes based
on interest rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's leading
central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe
LTD and EBS Group LTD, respectively. Dow Jones, Dow Jones
Industrial Average, S&P 500 and S&P are service and/or
trademarks of Dow Jones Trademark Holdings LLC, Standard &
Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as
the case may be, and have been licensed for use by Chicago
Mercantile Exchange Inc. All other trademarks are the property of
their respective owners.
CME-G
View original
content:https://www.prnewswire.com/news-releases/university-of-chicago-economics-professor-nancy-stokey-receives-cme-group-msri-prize-in-innovative-quantitative-applications-301548250.html
SOURCE CME Group