Professorial Fellowship in Monetary and Financial Economics

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The Reserve Bank of New Zealand | Victoria University of Wellington | School of Economics and Finance | Victoria University Foundation | New Zealand Economic Situation and Context

In 1994 the Professorial Fellowship in Monetary Economics programme at Victoria University of Wellington was set up as an initiative of the Reserve Bank of New Zealand. In 2004, the focus of the programme was widened to include financial stability issues, and the name of the programme was changed to the Professorial Fellowship in Monetary and Financial Economics.

Current and future fellows

Anat Admati is the George G.C. Parker Professor of Finance and Economics at the Graduate School of Business, Stanford University. She has written extensively on information dissemination in financial markets, trading mechanisms, portfolio management, financial contracting, and, most recently, on corporate governance and banking.

Since 2010, she has been active in the policy debate on financial regulation, particularly capital regulation, writing research and policy papers and commentary. She is a coauthor of the book, The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It. She was also named by Time Magazine as one of the 100 most influential people in the world and by Foreign Policy Magazine as one of the 100 global thinkers in 2014.

Professor Admati will be visiting Wellington 14 to 18 November 2016.

Contact: Emma Clark, Economics Department

Past fellows – public lectures and research

Fellows from 1995 to 2015.

Objectives

The objective of the programme is to enhance the development of monetary and financial-system policy in New Zealand to the advantage of New Zealand's long term welfare by furthering thinking and debate at the professional economics level, and, in particular, by:

1) promoting wider discussion of, and constructive challenge to, the Reserve Bank's thinking in the areas of monetary economics and financial-system policy; and

2) encouraging debate among university academics and policy advisers in the monetary and macroeconomic fields and in the financial stability field.

Funding and management

The programme is funded by the Reserve Bank of New Zealand through the Victoria University Foundation, which manages the programme. The Management Committee comprises representatives from the Reserve Bank, Victoria University's School of Economics and Finance, and the Victoria University Foundation, and independent members from the financial community.

Selection of Professorial Fellows

The fellowship position is staffed by specialists in monetary and financial economics of high international repute selected according to:-

  • their ability to contribute best to the above objectives
  • the extent of international recognition of their contribution in the field of monetary and/or financial economics, with a high weighting put on the relevance of their contribution to the practice of policy.
  • their demonstrated ability to communicate orally and in writing such that their contributions can readily be understood by those engaged in monetary and financial-system policy and practice in New Zealand
  • the extent to which their area of expertise and interest adds to the pool of knowledge in New Zealand

Duties of the Professorial Fellow

In general, the duties typically involve a mixture of:

  • original research of relevance to New Zealand
  • presentation of a public lecture
  • presentation of additional lectures and seminars to monetary policy and financial stability specialists, within and outside academe, in order to stimulate, educate and generally promote thinking on monetary policy and policy and financial stability issues
  • advice on, or supervision of, research by university staff and graduate or post-graduate students.

Some presentations take place at universities other than Victoria.

Remuneration

Professorial fellows are remunerated at a rate that is competitive in the market in which the fellow is normally employed. Travel and accommodation expenses are provided for, together with auxiliary expenses.

Living in New Zealand

General information about living in Wellington.

Duration

Fellowships are for durations ranging from two weeks to six months according to the availability of the fellow and requirements of the programme.