The Jury 2005


Nominations were assessed by an independent international prize jury.  According to the Statutes of the Deutsche Bank Prize, the Jury comprises of two members of the CFS research advisory council (i.e. the chairman of the council and another member); the Directors of the Department of Finance and the Department of Money and Macroeconomics at the University of Frankfurt am Main; a representative of Deutsche Bank; two internationally acclaimed researchers in economics;  a representative of an international media partner and the Directors of the CFS.



Michael Binder received a Ph. D. in economics from the University of Pennsylvania in 1995. Upon completion of his Ph.D. he joined the faculty of the University of Maryland, where he was an assistant professor. Since 2003 he is a professor at Goethe University Frankfurt (holding the Chair for International Macroeconomics and Macroeconometrics), and founding director of Goethe University’s Ph.D. Program in Economics.

Binder has been a Fulbright scholar, a Marie Curie research fellow, a scholar of the German National Scholarship Foundation, and has been the recipient of numerous teaching and advising awards. He has published on a variety of topics in macroeconomics and applied econometrics, and currently is an associate editor of the Journal of Applied Econometrics, of the Journal of Economic Dynamics and Control and of Empirical Economics as well as a fellow of the Center for Economic Studies Munich (CESifo).

Binder has held visiting appointments inter alia at the University of Cambridge, the International Monetary Fund, the World Bank, the European Central Bank and the Bank of Spain.

His current research focuses on the investigation of econometric and computational methods for rational expectations and dynamic panel data models. Recent papers and ongoing work specifically address issues in consumption and saving, in economic growth, in asset pricing and in exchange rate behavior.



Matthew Bishop is the Business Editor of The Economist, an international weekly journal of ideas, opinions and analysis. Matthew Bishop joined The Economist in 1991 as Economics Correspondent, then later became the Britain Correspondent, American Finance Editor and in 2000, the New York Bureau Chief. He is also the author of Essential Economics, the official (The Economist) guide to economics published in 2004. He was a member of the Sykes Commission/ Tomorrows Company Inquiry into the Investment System in the 21st Century. He is currently a member of the Advisors Group for the UN International Year of Microcredit 2005. Bishop is a graduate of Jesus College, Oxford.



Vitor Gaspar, Jury member in 2005, is Special Adviser at Banco de Portugal. From January 2007 to February 2010 he was Head of the Bureau of European Advisers of the European Commission in Brussels. Before that, he was Director-General Research at the European Central Bank from September 1998 until December 2004. He was also Director of the Research and Statistics Department of Banco de Portugal and Director of Economic Studies at the Portuguese Ministry of Finance. He has been associated with European integration. He was alternate member of the Monetary Committee from 1989 to 1998 and personal representative of the Finance Minister in the IGC leading to the Maastricht Treaty. He was also Chairman of the Alternates of the Monetary Committee from 1994 to 1998. He was member of GEPA from 2005 to 2006. His research interests are macroeconomic policy, public economics, political economy and financial integration. He has published numerous articles (including in EER, JEEA, Macroeconomic Dynamics, International Finance, Journal of Development Economics) and books. Among the latter ‚Imperfect knowledge and Monetary Policy‘ was written jointly with Otmar Issing and published by Cambridge University Press.



Jan P. Krahnen is Professor of Finance at Frankfurt University and Director of the Center for Financial Studies since 1995. He is representing the Deutsche Bank Prize in Financial Economics 2005 as Chairman of the Jury.

From 1991 to 1995 he held a Full Professorship of Finance at the University of Giessen. Prior to this appointment he held teaching positions at the universities of Frankfurt, Cologne and Berlin since 1985. He obtained his doctorate from the University Frankfurt and wrote his Habilitation at the Freie Universität Berlin.

Jan P. Krahnen is a CEPR Research Fellow and has been a visiting scholar at the Wharton School at the University of Pennsylvana and the Stern School of Business at New York University. He serves as associate editor of the Journal of Banking and Finance and on the Editorial Board of the Journal of Financial Services Research and has served as an Executive Board Member of the European Finance Association.

Jan P. Krahnens research and teaching interests are in the area of banking and financial intermediation. His research has been published in the Journal of Financial Intermediation, the Journal of Banking and Finance, European Finance Review, the European Journal of Finance and Perspektiven der Wirtschaftspolitik and other scientific journals. He has recently edited a comprehensive monograph on the 'German Financial System' published by Oxford University Press. His research has been supported by the German Science Foundation (DFG) and the European Commission.



Christian Laux, Jury member in 2005, was a Professor of Corporate Finance and Risk Management at Goethe University until February 2010 and now joined the Department of Finance, Accounting, and Statistics at the Vienna University of Economics and Business. He obtained his Ph.D. in 1995 at the Goethe University and his Habilitation in 2002 at the University of Mannheim. Christian Laux was a visiting scholar at the Chicago Booth School of Business, the Wharton School, University of Pennsylvania, Harvard University and taught at the London School of Economics. In January 2005 he became Program Director for Risk Transfer at the Center for Financial Studies (CFS). From 2000 to 2004 he was Secretary of the Verein für Socialpolitik (German Economic Association). Christian Laux‘s research interests include the role of fair-value accounting in the financial crisis and the structure of risk transfer. His work has been published in, e.g., the Accounting Review, the Journal of Economic Perspectives, the Journal of Financial Intermediation, the Journal of Risk and Insurance, the Review of Finance, and the RAND Journal of Economics.



Hermann Remsperger, Jury member in 2005, was a member of the Directorate and the Executive Board of the Deutsche Bundesbank from 1998 until 2009. At the Bundesbank he was in charge of the Economics and Statistics Department as well as the Economic Research Center and the International Relations Department. Before joining the central bank he was chief economist at BHF-Bank from 1984 to 1998. In 1990 Hermann Remsperger became an Honorary Professor of Goethe University, from where he obtained his doctoral degree. He was a member of the Executive Board of the German Economic Association (Verein für Socialpolitik) from 1998 until 2009 and the Research Advisory Board of the Center for Financial Studies. Hermann Remsperger is a member of the Center for European Economic Research in Mannheim (ZEW) and chairs the Supervisory Board of the Monetary Stability Foundation and the Board of Trustees of the Institute for Monetary and Financial Stability at Goethe University. Remsperger has numerous publications in monetary, currency and fiscal policy issues.



Mark Taylor is Professor of Macroeconomics at Warwick University. Previously a Fellow of University College, Oxford, he has also held chairs at Cass Business School, at Liverpool University and at Dundee University, and has been a Visiting Professor at New York University and the University of Aix-Marseille. He was also a Senior Economist at the International Monetary Fund, Washington DC, for five years and an Economist at the Bank of England, and began his career as a foreign exchange dealer in the City of London. Although his research interests are broad, Mark Taylor has a particular interest in empirical work on exchange rates. His work has been published in leading journals including the Journal of Political Economy, the Review of Economics and Statistics, the Journal of International Economics, the European Economic Review, the Journal of Economic Literature, the Journal of Development Economics, the Journal of Business and many others. Over the period 1999-2004, Mark Taylor directed a £5 million macroeconomics research program for the UK Economic and Social Research Council; he is also President of the European Economics and Finance Society.



Norbert Walter is Chief Economist of Deutsche Bank Group and CEO of Deutsche Bank Research. Previously he was professor and director at the renowned Kiel Institute for World Economics and was a John J. McCloy Distinguished Research Fellow at the American Institute for Contemporary Studies at the Johns Hopkins University in Washington, DC (1986-1987). He holds a Ph.D. in Economics from Frankfurt University. As Chief Economist of Deutsche Bank Group Norbert Walter is responsible for a globally integrated approach in economic research. He manages Deutsche Bank Research, Deutsche Bank's think tank, which covers a wide spectrum of issues ranging from economic forecasting to country rating and sector analysis. Services are rendered to the Bank's board, staff, customers and the general public. In addition to holding these responsibilities at Deutsche Bank, Professor Walter is an adviser to politicians, including some members of the European Parliament. Since October 2002 he has been a member of the inter-institutional monitoring group (appointed by the European Parliament, the Council and the European Commission) for securities markets. 



Volker Wieland, Chairman of the Jury in 2007 and Jury member in 2005, and 2009, is Professor of Monetary Theory and Policy in the House of Finance at Goethe University of Frankfurt. He pursued his undergraduate and graduate studies at the University of Wuerzburg, the State University of New York at Albany, the Institute for the World Economy in Kiel and Stanford University. In 1995 he received a Ph.D. in Economics from Stanford. He was awarded the Wim Duisenberg Research Fellowship by the European Central Bank for the academic year of 2008/09. He is also a Research Fellow of the Center for Economic Policy Research in London, a member of the CEPR‘s Euro Area Business Cycle Dating Committee and Program Director for Central Banking and Monetary Economics at the Center for Financial Studies in Frankfurt. From April 2003 until April 2009 he served as Director of the Center for Financial Studies. Before joining the Frankfurt faculty in November 2000 Volker Wieland was a senior economist at the Board of Governors of the Federal Reserve System in Washington, DC. He has also been a Visiting Professor at the Stanford Center for International Development, a visiting researcher at the Institute for International Economic Studies at Stockholm University and the Center for European Integration at the University of Bonn, a consultant at the European Central Bank and an Adjunct Professor at the University of Maryland Business School. He has served as Managing Editor of the Journal of Economic Dynamics and Control from 2002 to 2006 and is currently a member of the JEDC Advisory Board. He has also served on the Advisory Council of the Society for Computational Economics from 1998 to 2006 as an Associate Editor of the European Economic Review (2001 to 2004) and as a Member of the Referee Panel of Economic Policy (2004 - 2006). Wieland‘s research interests include monetary and fiscal policy, business cycles and macroeconomic models, inflation and deflation, learning and economic dynamics as well as numerical methods in macroeconomics. His research has been published in leading economic journals such as the American Economic Review, the Journal of Monetary Economics, the Journal of the European Economic Association, the European Economic Review and the Journal of Economic Dynamics and Control. He also participates actively in the public debate on topics in the area of central banking, fiscal policy, inflation and business cycles. His research and his assessments have been quoted by the Wall Street Journal, Neue Zürcher Zeitung, Frankfurter Allgemeine, Zeit, Handelsblatt, Financial Times Deutschland, Süddeutsche Zeitung and other English and German media.



Josef Zechner, Jury member in 2005, is Professor of Finance at the Vienna University of Economics and Business. He is Director of the PhD Program Vienna Graduate School of Finance (VGSF). He is also Managing Editor of the Review of Finance (joint with Marco Pagano) and past president of the European Finance Association and the German Finance Association. Josef Zechner is a full member of the Austrian Academy of Sciences, a CEPR Research Fellow, and a member of the Financial Economists Round Table. Before joining the University of Vienna, he was a faculty member of the University of Vienna and at the University of British Columbia. Josef Zechner has published in leading finance and economics journals such as the Journal of Finance, the Journal of Financial Economics, the Journal of Political Economy and the Journal of Business.