ERC Advanced Grants allow exceptional established research leaders to pursue ground-breaking, high-risk projects that open new directions in their respective research fields or other domains.


In 2011, of 2284 projects submitted to the ERC Advanced Grant call: 294 researchers were financed, including 31 in France.
These 2 new grants add to the total of 8 ERC grants held by TSE researchers. 

As done over the last three years, TSE went on the international job market to attract in Toulouse the best newly minted PhDs in economics of their generation from all around the world. Around 400 candidates applied, and we interviewed 40 of them at the American Economic Association meetings in Denver (Colorado) in early January 2011. Seventeen of them were invited to Toulouse where they presented their work in a recruitment seminar and met the TSE economists and staff. We made 8 offers of which 5 have been accepted. One of our offers is still open, waiting for the final decision of the candidate. We are therefore extremely glad to announce that Irene Botosaru, Lucas Maestri, Priscila Souza and Takuro Yamashita have accepted to join TSE on a tenure track position. By the high quality of their research, they will contribute to intensity of the scientific interactions within TSE and to the excellence of our institution.    

- Irene Botosaru (American and Romanian) is finishing her PhD at Yale University. She is a specialist of theoretical and applied econometrics.
- Lucas Maestri (Brazilian and Italian) is finishing his PhD at Yale University. His research interests are game theory, contract theory and microeconomic theory.
- Priscila Souza (Brazilian) is finishing her PhD at Yale University. Her research interests are development economics and labor economics.
- Takuro Yamashita (Japanese) is finishing his PhD at Stanford University. He is a specialist of microeconomics and industrial organization.
- Marti Mestieri (Spanish) is finishing his PhD at MIT. His research interests are macroeconomics, development and international trade.

When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to share risk more effectively? These questions are at the center of all financial crises, including the current global one. In « Inside and Outside Liquidity », Bengt Holmström and Jean Tirole offer an original perspective on these questions drawing on insights from modern corporate finance.
 

- Jean Tirole has been awarded the prize for his article: « Leverage and the Central Banker's Put », published in the American Economic Review in May 2009, written with Emmanuel Farhi (Harvard and Toulouse June fellow).
- Augustin Landier has also been awarded this prize for his article: « Financial Risk Management: When does Independence Fail », published in the American Economic Review Papers and Proceedings in May 2009 and written with David Sraer and David Thesmar.