Sheikh Mohammed awards professor for contributions in financial econometrics

The prestigious Great Arab Minds Award in Economics has been awarded on Monday to Algerian professor Yacine Ait-Sahalia for his groundbreaking contributions to financial econometrics.

Ait-Sahalia is a professor of finance and economics at Princeton University. A statement to announce his win said that he has transformed the understanding and analysis of high-frequency financial data and continuous-time processes.

"His innovative econometric methods have provided essential tools for estimating market volatility, forecasting trends, and evaluating economic risks. By addressing challenges like microstructure noise and capturing dynamic market behaviour, his research has greatly enhanced asset pricing and financial decision-making," it added.

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Professor Ait-Sahalia, who published over 80 academic studies and two books, has left a lasting impact on financial analysis and economic planning, cementing his position as a leading figure in the field.

"He has made exceptional contributions by developing an advanced financial-economic metric to measure levels of volatility and understand patterns of future rises and declines," said Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

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