Professor of Finance Stefano Giglio has been awarded the Carlo Alberto Medal for the year 2021 by the Collegio Carlo Alberto. The award recognizes an Italian scholar younger than 40 who has made outstanding contributions to the field of economics.
The award announcement noted Giglio’s research at the intersection of finance and economics. Indeed, Giglio’s research interests span asset pricing, macroeconomics, and real estate, with a particular focus on hedging macroeconomic risks using different financial instruments. He has recently published papers in top journals on hedging climate risk, how investor beliefs are reflected in trading behavior, and estimating risk premia in asset prices, among other subjects.
According to the Collegio Carlo Alberto announcement, some of the scholars who nominated Giglio for the award cited his mastery of both theory and empiricism. “His research always blends theory with clever empirical designs to attack important questions in economics and finance,” said one. Another commented that Giglio is “among the very best scholars in finance and macroeconomics today.”
Yale SOM Dean Kerwin Charles said this recognition was well deserved. “The list of previous winners of this honor includes some of the very best economists in the world. Stefano deservedly stands in their esteemed ranks,” said Charles. “We at SOM know Stefano to be not only an astoundingly creative, brilliant, and productive scholar but also a cherished colleague and superb teacher. We are inestimably proud of him and overjoyed to see him receive this recognition. This award brings reflected glory to SOM and to Yale more generally.”
Giglio received his BA from Bocconi University and his Ph.D. in Economics from Harvard University. He started his academic career at the University of Chicago Booth School of Business and joined the Yale SOM faculty in 2017. He has received numerous other prizes, including the AQR Insight Award, the Fama-DFA Prize for the Best Paper in the Journal of Financial Economics, and the UBS Global Asset Management Award for Research in Investments.
An award ceremony will be held at the Collegio Carlo Alberto in late spring 2022.
In a recent interview with Yale Insights, Prof. Giglio described his research into how markets can do more to address the systemic risks and uncertainties created by the climate crisis.