Professor Tim Bollerslev has been awarded the 2018 The Carlsberg Foundation Research Prize. Bollerslev, a professor in the Duke Financial Economics Center, was given the award based on his innovative work in the field of financial econometrics. Bollerslev, along with Poul Nissen of Aarhus University, was presented with the award on Sunday, September 2nd, at a ceremony at the Ny Carlsberg Glyptotek art museum in Copenhagen, Denmark. The recipients were awarded the prize, which includes DKK 1 million, by the Crown Princess of Denmark, Minister of Higher Education and Science, Tommy Ahlers, and chairman of the Carlsberg Foundation, Flemming Besenbacher.
Bollerslev’s research focuses on time-series econometrics, financial econometrics, and empirical asset pricing finance. Many of his ideas for measuring, modeling, and forecasting financial market volatility are now routinely used by economists and finance practitioners all over the world. Bollerslev’s GARCH model was written under the supervision of a 2003 Nobel Prize in Economics winner and was cited in the press release “for methods of analyzing economic time series with time-varying volatility” as the “model most often applied today.”
Bollerslev, who hails from Denmark, was “very honored” to receive the phone call that he had won the award. “The list of other Danes living in the US who have previously been awarded the Prize for their research in other areas is quite impressive.” DKK 750 of the prize is earmarked for the winner’s future research. Bollerslev wants to use that to help more Danish researchers and Ph.D. students visiting Duke. “I know first hand how beneficial those types of visits can be, not just for the younger researcher, but also for a more experienced researcher like now myself, in terms of getting new ideas and inspiration.”
More information about the award and The Carlsberg Foundation can be found here.