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Sergio Rebelo Named Walder Award Winner

Economist studies business cycles, impact of policy on growth, exchange rate

EVANSTON, Ill. --- Sergio Rebelo, the Tokai Bank Distinguished Professor of International Finance at Northwestern University Kellogg School of Management, has been named the 11th recipient of the Martin E. and Gertrude G. Walder Award for Research Excellence.

The $15,000 award, established by Joseph A. Walder, M.D., in 2002 and given annually by the provost, recognizes excellence in research in any of Northwestern’s schools or disciplines.

“Sergio Rebelo has done path-breaking work in core areas of macroeconomics, including the determinants of growth, business cycles, international capital flows and currency crises,” said Martin Eichenbaum, professor of economics in the Weinberg College of Arts and Sciences.

To improve our understanding of booms and busts in financial markets, he is currently using techniques developed in epidemiology to model the spread of contagious diseases to study how investors change their expectations about future returns.

Rebelo’s research has been funded by the National Science Foundation, World Bank, Sloan Foundation and Olin Foundation. He has served as a consultant to the World Bank, International Monetary Fund, Board of Governors of the Federal Reserve, European Central Bank, McKinsey Global Institute and other organizations.

A fellow of the Econometric Society, the National Bureau of Economic Research and the Center for Economic Policy Research, Rebelo has served on the editorial boards of the American Economic Review, European Economic Review, Journal of Monetary Economics and Journal of Economic Growth.

A popular teacher, he is a 22-time winner of the Kellogg Executive Master’s Program Outstanding Professor Award as well as a winner of Kellogg’s Professor of the Year Award. With Eichenbaum, professor of economics in the Weinberg College of Arts and Sciences, Rebelo co-directs Northwestern’s Center for International Macroeconomics.

Since 2004, the center has organized the annual Advanced Workshop for Central Bankers to expose central bank economists to state-of-the-art monetary economics models and techniques. Some 350 participants from institutions including the International Monetary Fund, the European Central Bank and several U.S. Federal Banks have attended the workshops.

Joseph Walder, who established the Walder Prize, earned a doctorate and medical degrees from Northwestern. Northwestern historian T.H. Breen received the first Walder Award in 2002.