Cecchetti is a professor of international economics at Brandeis IBS and has taught courses in economic policy, central banking and international finance systems for seven years. From 2008 to 2014, he was the chief economist at the Bank for International Settlements (BIS) in Basel, Switzerland. Much of his work there served as the catalyst for his selection by the University of Basel’s faculty of economics and business to receive this year’s honorary doctorate.
Founded in 1460, the University of Basel is the oldest university in Switzerland and is known as a leading research university. Its economics and business faculty functions as a unique unit that conducts research in fields across both sectors, including monetary economics, politics, labor, marketing, finance and economic policy.
“Steve is one of the most outstanding experts in financial stability,” said University of Basel former Dean of Economics and Business Yvan Lengwiler. “The faculty decided to honor him because he has chosen to not just do research, but to contribute to improving the global financial system. We highly value the reflection of problems and the conducting of research – but we also highly value people who take informed action.”Lengwiler noted that during Cecchetti’s tenure at the BIS, the former chief economist helped to create ties between the two Basel-based institutions. “Steve took a keen interest in the activities of the [economics and business] faculty,” said Lengwiler. “His work led to a productive exchange of ideas and joint research.”