CNB economists awarded the František Vencovský prize

Czech National Bank economists Adam Geršl and Jakub Seidler have been awarded first place in the competition for the František Vencovský prize. Their winning work deals with the new Basel III banking regulatory concept.

Adam Geršl and Jakub Seidler from the Czech National Bank have been awarded first place in the competition for the František Vencovský prize. The results were announced on 25 November 2011 at the international scientific conference “Czech and World Economies after the Global Financial Crisis”, held under the auspices of Czech National Bank Governor Miroslav Singer.

The winning work of the two economists “Excessive Credit Growth and Countercyclical Capital Buffers in Basel III: An Empirical Evidence from Central and Eastern European Countries” discusses the issue of the new Basel III regulatory framework and shows that the method of calibration of countercyclical capital buffers proposed by the Basel Committee on Banking Supervision may not be entirely suitable for Central and Eastern European countries.

The University of Finance and Administration, which awards the prize, announced the third round of the competition aiming to support young talented economists at the beginning of 2011. In view of the high quality of the works this year, two first prizes were awarded, with CERGE economist Filip Matějka winning the first prize alongside the two CNB economists.

Adam Geršl, Ph.D. and Jakub Seidler work in the CNB Financial Stability Department. Adam Geršl was also one of the winners of the František Vencovský prize in 2007.