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Clarkson University School of Business Prof Awarded Best Paper

[A photograph for media use is available at]

Clarkson University Prof. Allan Zebedee and his coauthors were recently selected for Best Paper of 2008 by Financial Markets and Portfolio Management, a quarterly finance journal published by the Swiss Society for Financial Market Research.

Zebedee, along with Eric Bentzen (Copenhagen Business School), Peter Hansen (Stanford University) and Asger Lunde (Aarhus School of Business), published a paper titled "The Greenspan years: an analysis of the magnitude and speed of the equity market response to FOMC announcements." zebedee

The paper examines the impact of monetary policy on the equity markets. The results show the markets reacts quickly -- within 15 minutes -- to unexpected monetary policy announcements.

The paper was the lead publication in Financial Markets and Portfolio Management in March 2008. The award was presented at the Annual Conference of the Swiss Society for Financial Market Research on April 3 in Geneva, Switzerland, and carried a cash prize of 2,000 euros.

Zebedee received his Ph.D. degree in economics from the University of California at San Diego. Prior to joining Clarkson University’s School of Business, Zebedee was an assistant professor in finance at San Diego State University, a visiting lecturer at Case Western Reserve University and a lecturer at Georgetown University.

Clarkson University launches leaders into the global economy. One in six alumni already leads as a CEO, VP or equivalent senior executive of a company. Located just outside the Adirondack Park in Potsdam, N.Y., Clarkson is a nationally recognized research university for undergraduates with select graduate programs in signature areas of academic excellence directed toward the world’s pressing issues. Through 50 rigorous programs of study in engineering, business, arts, sciences and health sciences, the entire learning-living community spans boundaries across disciplines, nations and cultures to build powers of observation, challenge the status quo, and connect discovery and engineering innovation with enterprise.

[News directors and editors: For more information, contact Annie Harrison, Director of Media Relations, at 315-268-6764 or]

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