McMaster economist wins Polanyi Prize


A McMaster economist has been named one of this year’s winners of the John Charles Polanyi Prizes.

César Sosa-Padilla was announced as the Polanyi Prize winner for Economic Sciences Tuesday at a ceremony at the University of Toronto’s Massey College.

Sosa-Padilla is an expert in international finance, macroeconomics, fiscal policy, sovereign debt and defaults.

His research tries to understand sovereign default crises, in particular their multi-dimensional costs, and also looks at market and policy innovations that could help avoid these crises or mitigate their costs. This year, he plans to look at the effect of creating safe European bonds and how that would affect a country’s policies on debt, defaults and bank bailouts.

The Polanyi Prizes are in honour of the achievement of John Charles Polanyi, recipient of the 1986 Nobel Prize in Chemistry.

The Government of Ontario established the fund to provide up to five prizes per year to outstanding researchers in the early stages of their career who are continuing to post-doctoral studies or have recently started a faculty appointment at an Ontario university.

McMaster has won 19 other Polanyi Prizes since their establishment in 1987.