Nobel Laureate in Economics Robert Engle Addresses University at Albany

Nobel Laureate in Economics Robert Engle
Robert Engle

ALBANY, N.Y. (March 6, 2008) -- Nobel Laureate in Economics Robert Engle, an expert on international market volatility and its impact on the U.S. economy, will speak at the University at Albany on March 7, 3:30 -5 p.m. in Business Administration 219.

Robert Engle's groundbreaking research into market volatility has become an indispensable tool for economists and financial analysts," said Distinguished Professor Kajal Lahiri, director of UAlbany's Econometrics Research Institute. "It is both an honor and rare opportunity to welcome him to campus and hear him speak before the University at Albany community."

Engle, the Michael Armellino Professor of Finance at New York University's Stern School of Business, was awarded the 2003 Nobel Prize in Economics for his research used to model volatility of economic variables. His model has become an indispensable tool for analyzing financial asset prices and evaluating portfolio risk. His research has produced such innovative statistical methods as cointegration, common features, autoregressive conditional duration, conditional autoregressive value at risk (CAViaR) and now dynamic conditional correlation (DCC) models.

The event is sponsored by the University's Econometrics Research Institute. Established in 1981, ERI conducts quantitative research on economic forecasting, transportation economics, business cycles, international growth, and health economics, and since 2000, has conducted a bi-annual Survey of New York Business Establishments. In conjunction with the Economics Department, and with grants from the Ford Foundation/CGE, it offers a graduate certificate in economic forecasting.

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