Bank of Canada honours two economics professors
Two Queen’s University professors have won prestigious awards from the Bank of Canada for their economic research.
Dr. Gregor Smith is receiving the Bank of Canada Fellowship Award, which provides financial support over five years to academics doing research of interest to the bank. Dr. Thor Koeppl has earned the Governor’s Award, granted for a two-year term, which recognizes younger academics who show potential for completing exemplary research.
“I'm very grateful to the Bank of Canada for their support of my research and our programs,” says Dr. Smith. “The award of this fellowship is largely due to the co-authors, colleagues, and students with whom I have been privileged to work.”
Dr. Smith’s research topics include drawing lessons from the Great Depression about whether fiscal stimulus is effective. Dr. Koeppl’s research focuses on financial markets without formal trading arrangements – often dubbed over-the-counter markets. These markets have become indispensible for the financial system, but proved highly unstable during the current financial crisis.
"I am very honored to receive the Governor's Award,” says Dr. Koeppl. “It is a truly special recognition of my on-going research and policy work on global financial sector reform.”
Bank of Canada Governor Mark Carney says the Queen’s professors’ research is of great interest to the bank.
“Professor Smith’s unique application of theory to important policy issues consistently produces results that are prominent and influential,” says Mr. Carney, noting Dr. Smith previously won the award in 2006.
"Professor Koeppl has already contributed important and influential research to both the academic and policy-making communities. The Bank is delighted to recognize his work.”
James MacKinnon, head of Queen’s economics department, says the awards are special.
“I am absolutely thrilled that my colleague Gregor Smith has been awarded a Bank of Canada Research Fellowship (for the second time) and my colleague Thorsten Koeppl has been awarded a Bank of Canada Governor's Award. These are both very prestigious awards for which the level of competition is extremely high.”