Date: Apr 30, 2009

Dr. Robert F. Engle to Receive Hofstra University's Presidential Medal

2003 Nobel laureate will discuss why the financial markets are so volatile

Hofstra University, Hempstead, NY –Robert F. Engle, Ph.D., the winner of the 2003 Nobel Prize in Economics, will be awarded the Hofstra University Presidential Medal on Wednesday, May 6, 2009 from 11:15 a.m. to 12:45 p.m. in the Leo A. Guthart Cultural Center Theater, Joan and Donald E. Axinn Library, South Campus.

After receiving the medal, Dr. Engle will speak on "What is Happening to Financial Market Volatility, and Why". This event is free and open to the public. For additional information please visit www.hofstra.edu/events.

The Hofstra University Presidential Medal is one of the most prestigious awards given by the University to distinguished persons in recognition of outstanding career achievement, scholarly excellence, professional leadership, noteworthy public service or humanitarian endeavors.

The ceremony is co-hosted by The Frank G. Zarb School of Business, Hofstra Quants and Traders, the Global Association of Risk Professionals at Hofstra University and the FMA @ Hofstra-Financial Management Association's Hofstra Chapter.

Dr. Engle, the Michael Armellino Professor of Finance at New York University Stern School of Business, was awarded the 2003 “Sveriges Riksbank Prize in Economic Sciences In Memory of Alfred Nobel” for his work in methods of analyzing economic time series with time-varying volatility (ARCH), an honor he shared with Clive W. J. Granger of the University of California at San Diego. Dr. Engle's research has introduced some of the most influential concepts in modern econometrics including GARCH models, Cointegration, Weak Exogeneity, Band Spectrum Regression, Common Features, Autoregressive Conditional Duration (ACD), and, most recently, the CAViaR model.

Before joining NYU Stern in 2000, Dr. Engle was the chancellor's associate professor of economics at the University of California, San Diego and associate professor of economics at the Massachusetts Institute of Technology. He is a fellow of the American Academy of Arts and Sciences, the Econometric Society, the American Statistical Association and the American Finance Association. He is also a member of the U.S. National Academy of Sciences.

Dr. Engle received his Doctor of Philosophy in economics and Master of Science in physics from Cornell University and his Bachelor of Science in physics from Williams College.
 
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