On January 5th, thousands of economists gathered in San Antonio, Texas for the annual meetings of the American Finance Association (AFA). The AFA meetings provide members of the field with the opportunity to present research and collaborate with colleagues from across the country. 

On the second day of the meetings, AFA President and Princeton Professor Markus Brunnermeier, Edwards S. Sanford Professor in the economics department at Princeton University and director of Princeton’s Bendheim Center for Finance, delivered the 2024 Presidential Address.

In her introductory remarks to Brunnermeier’s address, AFA President-Elect and Stanford Professor Monika Piazzesi said that Brunnermeier’s “body of work has had a big impact on our thinking about financial crises.”

Building on this impact, Brunnermeier spoke about resilience and macrofinance, and the difference between risk-management and resilience-management. Watch the entire address below.