Economic research institute at Princeton University
Julis-Rabinowitz Center for Public Policy and Finance
![](//upload.wikimedia.org/wikipedia/commons/thumb/0/09/Julis_Romo_Rabinowitz_Building.jpg/300px-Julis_Romo_Rabinowitz_Building.jpg) Julis Romo Rabinowitz Building, home to the Julis-Rabinowitz Center
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Type
| Private
|
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Established
| 2011
|
---|
Parent institution
| Princeton University
|
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Director
| Atif Mian
|
---|
Academic staff
| approx. 21 professors and researchers
|
---|
Students
| approx. 50 graduate and undergraduate students (2018?2019)
|
---|
Location
| ,
,
United States
|
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Website
| jrc
.princeton
.edu
|
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The
Julis-Rabinowitz Center for Public Policy and Finance
(
JRC
) is a leading
research center
at the
Princeton School of Public and International Affairs (SPIA)
of
Princeton University
. Founded in 2011, the JRC primarily promotes research on
public policy
as it relates to
financial markets
and
macroeconomics
. The center has also expanded its research and teaching to multiple disciplines, including
economics
,
operations research
,
political science
,
history
, and
ethics
.
[1]
History
[
edit
]
Founding
[
edit
]
In April 2011,
Mitch Julis
, a Princeton alum and current partner of
Canyon Capital Advisors
, a
Los Angeles
?based
hedge fund
, made a gift of $10 million to the Princeton School of Public and International Affairs. His funds were used to create a center that sought to analyze and improve the nation's financial and public policies.
[2]
[3]
Named for Julis’ parents, the Julis-Rabinowitz Center began its operations in the 2011?2012 academic year, and has since maintained close relations with the School of Public and International Affairs, the
Bendheim Center for Finance
, and the
Princeton University Department of Economics
.
Christina Paxson
, former dean of the
Princeton School of Public and International Affairs
and current president of
Brown University
helped to establish the organization which aimed to increase opportunities for research and teaching.
[4]
The center was originally located at Princeton's
Frick Chemistry Laboratory
. In 2017, the JRC moved to its permanent location at the Julis Romo Rabinowitz Building.
[5]
[6]
Organizational structure
[
edit
]
The current director of the JRC is the
John H. Laporte, Jr. Class of 1967 Professor of Economics, Public Policy and Finance
Atif R. Mian
. Professor Mian holds a
bachelor's degree
in Mathematics and a
Ph.D.
in Economics from the
Massachusetts Institute of Technology
. Much of his research focuses on finance and macroeconomy, analyzing housing trends, mortgage data, and the
2008 financial crisis
. His research has been cited in
The New York Times
,
Financial Times
,
The Wall Street Journal
, and the
Economist
.
[7]
The JRC is also supported by an External Advisory Council, which includes
Robert A. Johnson
at the
Institute for New Economic Thinking (INET)
, Philip Bennett at the
European Bank for Reconstruction and Development (EBRD)
, and Joyce Chang at
JP Morgan Chase & Co.
Research
[
edit
]
The goal of the JRC is to provide opportunities for research at the intersection of public policy and finance through its events, workshops, and initiatives.
[8]
[9]
The research conducted at the JRC has been published in numerous news outlets, including
Barron's
,
MarketWatch
,
The Washington Post
, and
Institutional Investor
.
[10]
[11]
[12]
[13]
Scholars
[
edit
]
Its scholars include a wide array of economists, political scientists, historians, and industry experts. Professors associated with the JRC have won a number of prestigious and international awards, including the
Clark Medal
(
Yuliy Sannikov
, 2016), the Moynihan Prize (
Alan Krueger
, 2016), and the Bipartisan Health Policy Leadership Award from the
National Alliance of Health Policy
(
Uwe Reinhardt
, 2017).
[14]
[15]
[16]
The center also is home to
Alan Krueger
, the former
Assistant Secretary of the Treasury for Economic Policy
;
Alan Blinder
, a former member of the
Council of Economic Advisers
and Vice Chairman of the
Federal Reserve System
;
Markus Brunnermeier
, Research Fellow at the
Bank for International Settlements
;
Harold James
, the current Historian at the
International Monetary Fund
; and
Cecilia Rouse
, a former member of the
Council of Economic Advisers
and current Dean of the
Princeton School of Public and International Affairs
.
[17]
[18]
The JRC is also home to a number of External Advisory Council members who work in government, industry, and academia.
[19]
Projects
[
edit
]
Washington Center Grant
[
edit
]
Atif Mian, Director of the JRC and
Professor of Economics
and of
Public Affairs
, runs the Washington Center Grant research project. Using household data at the county-level, he seeks to describe the role of
household debt
in the
2008 financial crisis
.
[20]
In 2014, he published his findings in
House of Debt
with
Amir Sufi
, at the
University of Chicago's
Booth School of Business
. Because of his research, Mian has been named one of the
International Monetary Fund's
"top 25 bright, young economists."
[21]
Macro, Money and Finance
[
edit
]
The Princeton Initiative: Macro, Money and Finance organizes an annual meeting for students to discuss trends in modern finance and macroeconomic models in the context of financial crises. The program is organized by
Markus Brunnermeier
,
Professor of Economics at Princeton University
, and
Yuliy Sannikov
,
Professor of Economics
at
Stanford University
.
[22]
Economics of Insurance Workshop
[
edit
]
In June 2018, the JRC organized the inaugural financial economics of
insurance
workshop. Organized by
Motohiro Yogo
(Princeton) and Ralph S. Koijen (
New York University
), the workshop focuses on the importance of the insurance sector in understanding market incentives, pricing, and asset allocation.
[23]
The project is funded by the
National Science Foundation
and the
Bendheim Center for Finance
.
[24]
[25]
Partnerships
[
edit
]
The JRC currently leads a partnership with the
African School of Economics (ASE)
. Since 2016, the JRC and the ASE have engaged in collaborative research and numerous training initiatives, as well as a new visiting scholar program.
[26]
Annual Conference
[
edit
]
The JRC's annual conference is co-hosted with
Microsoft Research
in
New York City
. It aims to bring together researchers, policy experts, and market practitioners to discuss some of the most pressing economic issues in the current world. Past topics including "Escalating Risks: China's Economy, Society and Financial System" and "The Future of Globalization: Trade, Finance and Politics." Some past keynote speakers include
Lawrence H. Summers
of
Harvard University
;
Robert Hall
of
Stanford University
;
Paul Krugman
of
Princeton University
; and
Benoit Cœure
of the
European Central Bank
.
[27]
Academics
[
edit
]
The JRC trains a cohort of undergraduate and graduate associates can conduct research with faculty and network with professionals in the financial-services industry. Past associates have been named
Rhodes Scholars
and
Schwarzman Scholars
.
[28]
[29]
Undergraduate students at Princeton are able to apply for an Undergraduate Certificate in Finance (UCF) with a Public Policy and Finance Track. This program is co-directed by the JRC and the
Bendheim Center for Finance
. It requires students to take relevant courses in a number of fields, such as public finance and the history of financial crises.
[30]
Graduate students are able to take intensive courses sponsored by the JRC.
[31]
They may also take part in the
Princeton Initiative: Macro, Money and Finance
, a program for students looking to further develop their modeling skills and financial knowledge.
[32]
References
[
edit
]
- ^
"Aspire Final Report"
.
Aspire Report
.
- ^
"Canyon Capital Thrives in a Transforming Financial Landscape"
.
Institutional Investor
.
- ^
"Gift establishes Julis-Rabinowitz Center for Public Policy and Finance at Princeton"
.
Princeton University News
.
- ^
"Christina Paxson"
.
Brown University
.
- ^
"JRCPPF has moved to the new Julis Romo Rabinowitz Building"
.
The Julis-Rabinowitz Center
.
- ^
"U. completes new building to house departments, programs"
.
The Daily Princetonian
.
- ^
"Atif Mian"
.
Princeton University
.
- ^
"Financial Sanctions"
.
Bass, Berry & Sims
.
- ^
"About Us"
.
The Julis-Rabinowitz Center for Public Policy & Finance
.
- ^
Mian, Atif; Sufi, Amir.
"An Alternative View of Boom and Bust Cycles"
.
Barron's
.
- ^
Mian, Atif; Sufi, Amir.
"Opinion: Credit expansion is the real cause of booms and busts"
.
MarketWatch
.
- ^
Mian, Atif; Sufi, Amir.
"Why Tim Geithner is wrong on homeowner debt relief"
.
The Washington Post
.
- ^
Rose-Smith, Imogen.
"Canyon Capital Thrives in a Transforming Financial Landscape"
.
Institutional Investor
.
- ^
"Yuliy Sannikov Wins Clark Medal"
.
The Julis-Rabinowitz Center
.
- ^
"Alan Krueger to receive Moynihan Prize for social science research"
.
The Julis-Rabinowitz Center
.
- ^
"Uwe Reinhardt Receives Health Policy Award"
.
The Julis-Rabinowitz Center
.
- ^
"New dean of Princeton University's Woodrow Wilson school is former presidential economic adviser"
.
NewJersey.com
. 30 July 2012.
- ^
"Harold James Appointed Historian at International Monetary Fund"
.
The Julis-Rabinowitz Center
.
- ^
"External Advisory Council"
.
The Julis-Rabinowitz Center
.
- ^
"Washington Center Grant"
.
Julis-Rabinowitz Center for Public Policy and Finance
.
- ^
Niazi, Abdullah.
"Dr Atif R Mian, one of IMF's 'top 25 bright, young, economists' named in Imran's EAC"
.
Pakistan Today
.
- ^
"Princeton Initiative"
.
Julis-Rabinowitz Center for Public Policy and Finance
.
- ^
"People"
.
Financial Economics of Insurance
.
- ^
"Inaugural Financial Economics of Insurance Workshop"
.
Julis-Rabinowitz Center for Public Policy & Finance
.
- ^
"First Princeton Financial Economics of Insurance conference held"
.
Princeton Electronic Newsletter Communications
.
- ^
"New Partnership Between JRCPPF and the African School of Economics"
.
The Julis-Rabinowitz Center
.
- ^
"Annual Conference"
.
The Julis-Rabinowitz Center
.
- ^
"Evan Soltas, JRCPPF Undergraduate Associate, Named Rhodes Scholar"
.
The Julis-Rabinowitz Center
.
- ^
"Tyler Rudolph, JRCPPF Undergraduate Associate, Earns Inaugural Schwarzman Scholarship"
.
The Julis-Rabinowitz Center
.
- ^
"Public Policy and Finance Track"
.
The Julis-Rabinowitz Center
.
- ^
"Short Course: Financial Markets for Public Policy Professionals"
.
The Julis-Rabinowitz Center
.
- ^
"Princeton Initiative"
.
The Julis-Rabinowitz Center
.
External links
[
edit
]
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40°20′57″N
74°39′13″W
/
40.34914°N 74.65362°W
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40.34914; -74.65362