Mafin 2010

Program:

** Thurday 23rd September**
Session I Financial Instability, Banking Sector and Macroeconomics
Chair Jón Þór Sturluson, Reykjavik University, Iceland

  • Tryggvi Pálsson, Director, Financial Stability, Central Bank of Iceland, "Coping with a banking crisis - Case of the Icelandic financial system"
  • Paul Ormerod, Volterra Consulting, United Kingdom, “Letting the fox guard the chickens? Macroeconomic theory after the crisis”
  • Willi Semmler, New School for Social Research, USA, "The Instability of the Banking Sector and Macrodynamics: Theory and Empirics"

Session II Banking, Leverage and Market Outcomes
Chair Stefano Battiston, ETH Zurich, Switzerland

  • Jørn Inge Halvorsen, Norwegian School of Management, “Are bank lending shocks important for economic fluctuations?”
  • Roy Cerqueti, University of Macerata, Italy, “Do Investment Banks benefit from prospect theory?”
  • Doyne Farmer, Santa Fe Institute, USA, “The Role of Leverage in Causing Clustered Volatility, Heavy Tails and Market Failure”

Session III Fiscal Policy, Sovereign Debt and Regulation
Chair Tór Einarsson, University of Iceland

  • Paul McNelis, Fordham University, USA, “Macroeconomic Dynamics Under High Accumulation of Government Debt: Lessons from Japan”
  • Luciano Greco, University of Padua, Italy, “Measuring Short-Term Fiscal Sustainability”
  • Daniel Kleinlercher, University of Innsbruck. Austria, “The Tobin tax - a method to reduce speculation and stabilize the markets?”

** Friday 24th September**
Session IV Networks, Cascading Failures and Systemic Risk
Chair Hardy Hanappi, University of Technology Vienna, Austria

  • Pasquale Cirillo, University of Bern, Switzerland, “A Polya network to model cascading failures of firms”
  • Stefano Battiston, ETH Zurich, Switzerland, “Liaisons Dangereuses: Increasing Connectivity, Risk Sharing, and Systemic Risk”

Session V Agent-based Models of Financial Instability
Chair Doyne Farmer, Santa Fe Institute, USA

  • Shu-Heng Chen, National Chengchi University, Taiwan, “Microstructure Dynamics and Agent-Based Financial Markets: Can Dinosaurs Return?”
  • Isamu Okada and Ichiro Takahashi, Soka University, Japan, “An Agent Based Approach to Investment Dynamics and Financial Instability”

Session VI General perspectives on the crisis
Chair Willi Semmler, New School, USA

  • Dirk Bezemer, University of Groningen, Netherlands, "Credit, Rent, and the Costs of Crisis"
  • Hardy Hanappi, University of Technology Vienna, Austria, "Europe's Future after the Global Crisis: From Growth to Reproductive Change"

Session VII Liquidity Shortages and Systemic Risk
Chair Shu-Heng Chen, National Chengchi University, Taiwan

  • Tór Einarsson, University of Iceland, “Understanding Liquidity Shortages During Severe Economic Downturns”
  • Duc Pham-Hi, ECE Graduate School of Engineering, France, “Filtering techniques, an alternative forward looking definition for risk capital, and procyclicity in Basel III”

** Saturday 25th September**
Session VIII Follow-up
Chair Dirk Bezemer, University of Groningen, Netherlands


Photos:


Acknowledgements:

The workshop is funded by COST Action IS0902 on “Systemic Risks, Financial Crises and Credit - the roots, dynamics and consequences of the Subprime Crisis”.
Action Chair: Dr. Oliver Kessler, University of Bielefeld, Germany
http://w3.cost.eu/index.php?id=233&action_number=IS0902
http://www.worldfinancialcrisis.eu/

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