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Bendheim Center for Finance

Bendheim Center for Finance (BCF) is an interdisciplinary center at Princeton University. It was established in 1997 at the initiative of Ben Bernanke and is dedicated to research and education in the area of money and finance, in lieu of there not being a full professional business school at Princeton.[1]

"Bendheim" redirects here. For the surname, see Bendheim (surname).

Founder(s)

1997

Research and education in money and finance

Mark A. Aguiar, Yacine Ait-Sahalia, Sanjeev Arora, Alan S. Blinder, Markus K. Brunnermeier, Rene Carmona, Jianqing Fan, Maryam Farboodi, Harold James, Jakub Kastl, Nobuhiro Kiyotaki, Alan B. Krueger, Adrien Matray, Atif Mian, Stephen Morris, John Mulvey, Ulrich Müller, Arvind Narayanan, David Schoenherr, Mykhaylo Shkolnikov, Christopher A. Sims, Ronnie Sircar, Robert Vanderbei, Mark W. Watson, Matt Weinberg, Wei Xiong, Motohiro Yogo

20 Washington Road, Princeton, NJ 08544, USA

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Princeton
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NJ
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USA

Faculty[edit]

While most of the Bendheim Center's faculty comes from Princeton's department of economics, the center also draws its faculty from other fields such as psychology, computer science, and operations research.[2]


The Bendheim Center for Finance's current and past faculty have been honored with prizes, fellowships, and awards.[3] The Nobel Prize in Economic Sciences has been awarded to Daniel Kahneman (2002), Paul Krugman (2008), and Christopher Sims (2011).[4] The John Bates Clark Medal has been given to Yuliy Sannikov in 2016.[5] Sannikov (2015) and Harrison Hong (2009) have been awarded the Fischer Black Prize.[6] Markus Brunnermeier obtained the Germán Bernácer Prize (2008).[7] Daniel Kahneman has been honored with the Presidential Medal of Freedom (2013).[8] Markus Brunnermeier (2004) and Wei Xiong (2012) won the Smith Breeden Prize. Atif Mian (2010) and Markus Brunnermeier (2013) won the Distinguished Paper Brattle Prize.[9]


Various faculty members have been named Fellow of the Econometric Society,[10] Fellow of the National Academy of Sciences, Fellow of the Society for Industrial and Applied Mathematics,[11] Fellow of the Institute of Mathematical Statistics,[12] Distinguished Fellow of the American Economic Association,[13] Guggenheim Fellow,[14] or Sloan Fellow.[15]

Research[edit]

The Bendheim Center for Finance obtained a stellar academic reputation within few years, benefiting from its faculty's focus on financial imperfections and behavioral elements which experienced an unprecedented boost in public interest and academic research after the burst of the dot-com bubble in 2000. Similarly, the faculty's empirical research on housing and theories incorporating financial frictions and the financial sector into macro and monetary models contributed to the Bendheim Center's outstanding reputation as these are at the heart of the rethinking of macroeconomics, monetary economics, financial regulation, and the international financial architecture triggered by the great recession.[16][17]

Seminars, lecture series, and conferences[edit]

In addition to the student research workshop, the BCF hosts a weekly finance seminar. The center organizes the "Princeton Finance Lectures" delivered by one outstanding finance scholar each year. In the past years, lectures were given by Raghuram Rajan, Jeremy Stein, Ben Bernanke, Andrei Shleifer, Robert Shiller, Robert Engle, Robert C. Merton, and Lars Peter Hansen.[32] The BCF regularly hosts conferences. Past conferences dealt with topics such as escalating risks in China and FinTech.[33] Each year, the BCF co-organizes the "Princeton Initiative: Macro, Money and Finance", which brings together about 75 Ph.D. students from various universities to explore the latest research at the intersection between macro, monetary, and financial economics.[34] In the center's career speaker series, guests from industry, government, and academia cover a broad range of topics, addressing both graduate and undergraduate students.[35]