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Arthur Warga Award

Two Arthur Warga Awards are presented each year: (1) The Arthur Warga Award for Best Paper in Fixed Income at SFS Cavalcade Asia-Pacific and (2) The Arthur Warga Award for Best Paper in Fixed Income at SFS Cavalcade North America. The prizes are equal to 2% of the endowment at the time they are awarded.

This prize is made possible by the support of:

Brent Ambrose
Kelly N. Cai
Sudheer Chava
Mark Grinblatt & Rena Repetti
Jeffrey Hales
Jean Helwege
Gwangheon Hong
Edie Hotchkiss
Madhu Kalimipalli
Praveen Kumar
Paolo Pasquariello
Matt & Cathy Spiegel

We welcome additional donations to the endowment. Please contact the SFS if you wish to contribute.

Award History

2024 North America, $1000
“Dealer Capacity and US Treasury Market Functionality”
Darrell Duffie, Michael Fleming, Frank Keane, Claire Nelson, Or Shachar, Peter Van Tassel

2023 North America, $1000
“The Demand for Long-Term Mortgage Contracts and the Role of Collateral”
Lu Liu

2022 Asia-Pacific, $1050
“Intergenerational Conflict and Education Financing”
Hanyi (Livia) Yi

2022 North America, $1050
“The Demand for Money, Near-Money, and Treasury Bonds”
Arvind Krishnamurthy and Wenhao Li

2021 North America, $750
“Credit Fire Sales: Captive Lending as Liquidity in Distress”
Matteo Benetton, Sergio Mayordomo, Daniel Paravisini

2020 North America, $750
“The Passthrough of Treasury Supply to Bank Deposit Funding”
Wenhao Li, Yiming Ma, and Yang Zhao

2019 Asia-Pacific, $750
“How Safe Are Safe Havens”
Sven Klingler and Suresh Sundaresan

2019 North America, $750
“Pledgeability and Asset Prices: Evidence from the Chinese Corporate Bond Markets”
Hui Chen, Zhuo Chen, Zhiguo He, Jinyu Liu, and Rengming Xie

2018 Asia-Pacific, $700
“Can Equity Market Efficiency Help Improve the Quality of Credit Ratings? Evidence from a Controlled Experiment”
Jennie Bai, Sterling Huang, Massimo Massa, and Hong Zhang

2018 North America, $700
“Sovereign credit risk and exchange rates: Evidence from CDS quanto spreads”
Patrick Augustin, Mikhail Chernov, and Dongho Song

2017 Asia-Pacific, $700
“Expected Term Structures”
Andrea Buraschi, Ilaria Piatti, and Paul Whelan

2017 North America, $1300
“ETF Arbitrage under Liquidity Mismatch”
Kevin Pan and Yao Zeng

2016 North America, $1200
“A Macrofinance View of Sovereign CDS”
Mikhail Chernov, Lukas Schmid, Andres Schneider

2015 North America, $1300
“Call Me Maybe? The Effects of Exercising Contingent Capital”
Boris Vallee

2014 North America, $1200
“Monetary Policy Drivers of Bond and Equity Risks”
John Y.  Campbell, Carolin Pflueger, and Luis M. Viceira