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The 2003 SUERF Marjolin Prize Winner

Prize author(s): Alicia Garcia-Herrero and Pedro del Rio, Banco de EspaƱa

Date published: Jun 2003

The 2003 SUERF Marjolin Prize was awarded to Alicia Garcia-Herrero  and Pedro del Rio, Banco de España, for their paper: “Implications of the Design of Monetary Policy for Financial Stability" at the 24th SUERF Colloquium in Tallinn on "Stability and Efficiency of Financial Markets in Central and Eastern Europe" in colloboration with the Easti Bank.

The authors have carried out an impressive multi-country empirical analsys according to which countries whose central banks narrowly focus on price stabiity appear to have a lower probability of suffering from a bankink crisis.

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