Stanley Fischer was named the inaugural recipient of the $200,000 Miriam Pozen Prize, which recognizes outstanding research and leadership in financial policy.
The biennial award was announced in a news release Thursday by the Golub Center for Finance and Policy at the Massachusetts Institute of Technology, Cambridge.
Established in January by Robert C. Pozen, a former vice chairman of Fidelity Investments, Boston, and currently a senior lecturer at the MIT Sloan School of Management, the prize honors his late mother.
Dr. Fischer will be honored at MIT Sloan in spring 2021, when he will deliver the inaugural Miram Pozen address, according to the news release.
Dr. Fischer undertook groundbreaking research in positions at MIT and the University of Chicago, and has also served in senior positions at the Bank of Israel, Federal Reserve, International Monetary Bank and the World Bank, where he "shaped financial policy that promoted stability and growth," the news release said.
"I am pleased that the judges have chosen Dr. Stanley Fischer as the first recipient of the Miriam Pozen Prize," Mr. Pozen said in the news release. "Having held senior positions in academia, government and business, Dr. Fischer embodies the kind of engagement in all aspects of financial policy that is needed if we are to continue integrating theory and practice in this field."
The award focuses on financial policy that is practical rather than theoretical, honoring candidates with expertise and accomplishments in fields such as regulation, product development, retirement policy and investment management.