Award of the "Ieke van den Burg Prize for Research on Systemic Risk": final results

The ESRB runs an annual prize for research on systemic risk by young scholars. The prize is awarded in memory of Ieke van den Burg, who was a member of the inaugural Advisory Scientific Committee (ASC) between 2011 and 2014 and a member of the European Parliament between 1999 and 2009.

After a highly competitive selection process, which involved three rounds and multiple blind peer reviews, a selection panel of the ASC (comprising Martin Hellwig, Marco Pagano, André Sapir, Viral Acharya and Markus Brunnermeier) decided to award the inaugural prize to the following paper: "The Motives For Financial Complexity: An Empirical Investigation" co-authored by Ms Claire Célérier and Mr Boris Vallée.

The selection panel considered the paper by Célérier and Vallée to be highly original and to have great policy relevance. The prize was awarded on 29 May at a symposium of the ASC, at which Claire Célérier also presented her paper.

The ASC also decided to recognise the quality of two additional papers, which are both runners-up for the prize:

1. "Credit Default Swap Spreads and Systemic Financial Risk" authored by Stefano Giglio
2. "Bank Recapitalizations and Lending: A Little Is Not Enough" authored by Timotej Homar

For media enquiries, please contact William Lelieveldt at William.Lelieveldt@ecb.europa.eu.