NFI Research Programme
The objective of the NFI Research Programme is to facilitate for financial economic research of the highest academic standard in areas of particular relevance for the long-term management of the Government Pension Fund Global (GPFG).
The Research Programme reflects the Executive Board of Norges Bank`s long-term commitment to strengthen the scientific foundation of the management of the fund.
Under the programme, the NFI may provide support for research initiatives within specific topics for a period of up to three years. The research funding may be used for conferences, roundtables, workshops, papers, a special issue of an academic journal, or other initiatives facilitating academic discourse, including administrative and travel costs. The research initiatives should attract a mixture of renowned academics in the field, as well as junior researchers of the highest potential in the area, and should lead to original research contributions and new scientific insight.
The NFI is currently not looking for any research proposal submissions.
For more information please contact [email protected]
research projects Funded under the programme
National Bureau of Economic Research (NBER) has received a three-year grant to carry out a series of research conferences on topics within long-term asset management. The project will be led by NBER Research Associates Monika Piazzesi, who is the Joan Kenney Professor of Economics at Stanford University, and Luis M. Viceira, the George E. Bates Professor at Harvard Business School. The project commenced on 1 January 2016.
London Business School (LBS) has received a three-year grant to investigate engaged ownership. LBS will conduct the project in cooperation with researchers from Bocconi and ULB. Professors Marco Becht (Université libre de Bruxelles), Julian Franks (LBS), and Hannes Wagner (Bocconi) will examine the effectiveness of engaged ownership by analysing the extent, impact and value of engaged ownership by Standard Life Investments (SLI). The project commenced on 1 January 2016.
New York University Stern School of Business (NYU Stern) has received a two-year grant to carry out finance research on environmental risks. Robert Engle, NYU Stern Michael Armellino Professor of Finance and winner of the 2003 Nobel Prize in Economics, and Johannes Stroebel, NYU Stern Assistant Professor of Finance, will apply the tools of modern finance and risk management to measure and model environmental risks, particularly those originating from climate change. The objective of the research project is to identify optimal hedging portfolios against environmental risks. The project will also include new research to improve estimates of the discount rate. As part of the project, the NYU Stern Volatility Institute will organise a conference, where academics and practitioners are brought together to discuss financial approaches to environmental risks and climate change.
Harrison Hong, the John R. Eckel Jr. Professor of Financial Economics at Columbia University, has received a three-year grant to carry out research and convene two research conferences on climate change and capital market efficiency. The conferences will be organised by Columbia’s Program in Economic Research (PER). Professor Hong will convene the two conferences in collaboration with José Scheinkman, the Charles and Lynn Zhang Professor of Economics at Columbia University, and Professor Andrew Karolyi of Cornell University, the Executive Editor of the Review of Financial Studies.
Charles Jones, Professor of Finance at Columbia University, has received a three-year research grant to study the effect of technological and regulatory changes on market structure and transparency across equity and fixed-income markets in the US and Europe. He will lead a team of senior researchers from the University of California Berkeley, VU Amsterdam and UNSW Business School in Sydney.The research team aims to produce a number of academic research papers and to organise a series of conferences bringing together regulators, practitioners, market innovators and academics during the grant period.