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IMAGE: Ben Bernanke, Mark Gertler, Nobuhiro Kiyotaki, and John Moore, winners of the BBVA Foundation Frontiers of Knowledge Award in Economics. view more
Credit: BBVA FOUNDATION
The BBVA Foundation Frontiers of Knowledge Award in the Economics, Finance and Management category has gone in this thirteenth edition to Ben Bernanke (The Brookings Institution, Washington DC), Mark Gertler (University of New York), Nobuhiro Kiyotaki (Princeton University) and John Moore (University of Edinburgh) for fundamental contributions to our understanding of how financial market imperfections can amplify macroeconomic fluctuations and generate deep macroeconomic recessions, in the words of the award citation. In the last 15 years, says the committee, advanced economies have been hit by large macroeconomic shocks arising from the financial side. By 2008, fuelled by the liquidity glut stemming from emerging countries and by lax prudential supervision, many financial instit
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IMAGE: Neil Adger, winner of the BBVA Foundation Frontiers of Knowledge Award in Climate Change. view more
Credit: BBVA FOUNDATION
The BBVA Foundation Frontiers of Knowledge Award in Climate Change has gone in this thirteenth edition to Neil Adger, Ian Burton and Karen O Brien for changing the paradigm of climate change action, previously confined to mitigation of greenhouse gas emissions, by folding in the concept of adaptation to unavoidable impacts.
While earlier editions of the Frontiers of Knowledge Awards have distinguished contributions to climate change science from the realms of modelling, physics or economics, this year s prize recognizes the contribution of the social sciences. Specifically, the committee has selected three researchers who have pioneered the study of how social conditions and culture shape our vulnerability to climate change and our ability to adapt, in the words of the award citation.
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