FACULTY AWARD: Economist Kiyotaki wins Ross Prize

Nobuhiro Kiyotaki, a Princeton professor of economics, has been selected to receive the Stephen A. Ross Prize in Financial Economics with his longtime collaborator John Moore of the University of Edinburgh and London School of Economics. Kiyotaki and Moore received the prize, announced Dec. 10 by the Foundation for the Advancement of Research in Financial Economics and accompanied by $100,000, for their influential 1997 paper on credit conditions and asset pricing.