The Research Group welcomes Eric Ghysels to its Program for Resident Scholars for 2008-09. Professor Ghysels is the Edward M. Bernstein Distinguished Professor of Economics at the University of North Carolina at Chapel Hill as well as a professor of finance at the university’s Kenan-Flagler Business School. A renowned researcher on time series econometrics and finance, he has published in the Journal of the American Statistical Association, the Journal of Econometrics, the Journal of Finance, the Journal of Financial Economics, the Review of Economics and Statistics, and the Review of Financial Studies. Professor Ghysels is a former coeditor of the Journal of Business and Economic Statistics and currently coeditor of the Journal of Financial Econometrics.

Professor Ghysels has served on the editorial boards of several other academic journals, has chaired the Business and Economic Statistics Section of the American Statistical Association, and is the founding co-president of the Society for Financial Econometrics. For the past fifteen years, he has been a visiting scholar at the Board of Governors of the Federal Reserve System and at the Federal Reserve Bank of New York.

The Research Group established its Program for Resident Scholars in 2004 to attract to the New York Fed, for a stay of at least six months, outstanding researchers with an international reputation. The scholars are selected from the top academic and policy institutions in areas related to the Bank’s broad policy interests. Resident scholars pursue their own research agendas while participating fully in the Research Group’s activities. They work closely with the director of research, contribute to policymaking discussions, and provide intellectual leadership by advising and collaborating with the Group’s economists.

Previous resident scholars are Mark Gertler, the Henry and Lucy Moses Professor of Economics at New York University; Nobuhiro Kiyotaki, professor of economics at Princeton University; Suresh M. Sundaresan, the Chase Manhattan Bank Foundation Professor of Financial Institutions at Columbia Business School; and Jiang Wang, the Mizuho Financial Group Professor at MIT’s Sloan School of Management.