Centre for Asset Pricing Research (CAPR)
The Centre for Asset Pricing Research (CAPR) serves as a bridge between academia and the financial industry.
8 May 2020
The Eurpoean Research Council (ERC) has granted Andreas Fagereng, associate professor at the Department of Finance at BI Norwegian Business School, a “Starting Grant”, for a period of five years.
Starting grants target outstanding researchers who present research projects with expected ground-breaking results, and who have demonstrated scientific maturity a few years after completing their doctorate degree.
Together with researchers in Europe, US and local team members from the University of Oslo, Statistics Norway and Norges Bank, Fagereng and BI colleague Gisle Natvik will study the impact of inequality and distributions for the macro economy. The official start date of the project was 1 May 2020.
“The project will contribute toward a better understanding of inequality along the three dimensions, consumptions, income and wealth, and its macroeconomic implications. The evidence will complement recent theoretical advances within macroeconomics by quantifying in the data the type of micro heterogeneity that matters,” says Andreas Fagereng.
The funding of up to 1,5 million euros allows Fagereng to establish research teams and pursue his research project with the title “Inequality in 3D - measurement and implications for macroeconomic theory”.
The ERC’s mission is to encourage the highest quality research in Europe through competitive funding and to support investigator-driven frontier research across all fields, on the basis of scientific excellence. The ERC Starting grant is personal, that is, the grant is awarded regardless of which research institution the researcher belongs to.
In August 2019, Fagereng joined BI from Statistics Norway, the national statistical institute of Norway, were he has been senior researcher and head of research in the Research Department, group for macroeconomics. Fagereng holds a doctorate degree in economics from the European University Institute from 2012, and has previously lead research projects funded by The Research Council of Norway.
“Andreas Fagereng is an outstanding researcher, and his research experience within macroeconomic and finance has already had a significant contribution to the academic field. Fagereng will be an important asset in further developing BI’s position as one of the top finance research departments in Europe. There is great prestige associated with this grant and I look forward to follow Fagereng’s research in the coming years,” says Hilde C. Bjørnland, Provost for research and academic resources and professor of economics at BI.
- The ERC is a flagship component of Horizon 2020, the European Union’s Research Framework Programme for 2014 to 2020.
- ERC support the best of the best in Europe across all fields of science, scholarship and engineering and promote wholly investigator-driven, or «bottom-up&apos» frontier research.
- ERC encourage the work of the established and next generation of independent top research leaders in Europe and reward innovative proposals by placing emphasis on the quality of the idea rather than the research areas.