Systemic Risk Centre
Lead Research Organisation:
London School of Economics and Political Science
Department Name: Finance
Abstract
Systemic financial risk and the impact of financial risk spilling over to the real economy, is one of the greatest threats facing the UK economy. The Centre research on systemic risk (SR) will be guided by academic principles and rigour, drawn from decision sciences, sociology, evolutionary biology, political economy and computer science, in addition to our core areas of finance, statistics and economics. We would be tempted to label it the "Systemic Risk 2.0 Centre." We propose to focus on 4 interrelated themes.
1. Endogenous risk, financial policy and risk forecasting
2. Computer-Based Trading (CBT), High-Frequency Trading (HFT) and endogenous market crashes
3. The impact of rules and decision-making
4. Network risk
While it is clear to any observer that the financial system is made up of individuals who in aggregate determine outcomes, surprisingly most models used assume the opposite, that risk is largely exogenous with extreme outcomes supposedly dropped onto financial markets by an outside force. The reason for this is that it is hard to model risk when it is endogenous, so most find the paradigm of exogenous, albeit large, risk to provide an acceptable balance between ease and reliability. But SR by definition involves the entire system with its myriad actors linked together through subtle and endogenous networks and reacting to endogenous news, prices, rules, laws and political processes. By applying endogenous risk and network analysis we can directly identify channels for the creation of SR via the various feedback loops inherent in the financial system.
Experience suggests that endogenous and SR is ever present throughout the financial system and emerges at the confluence of different fields. The Centre research will therefore be interdisciplinary by design. A narrow research focus, based on a single discipline, is unlikely to provide much headway in the understanding of SR. Furthermore, the analysis of the behaviour of an entire system has a long history in the natural sciences. The Centre is able to draw on some of the leading experts in this field looking for a partner to applying their insights to finance. A similar natural fit can be found with computer science. Crashes through sudden coordinated selling have been endemic throughout history, but their danger is becoming more immediate with the presence of CBT as more trading is done by unthinking algorithms that follow mechanical rules at speeds making supervision physically impossible while little about the structure of markets itself is commonly known, leading to second guessing of second guesses. Such uncertainty is further deepened by the nature of the balance-sheet and trading networks which are only starting to be analysed.
One of the highest concerns to society is the design of informed rules (e.g. laws, accountancy standards etc.) and regulations that prevent the build-up of such SR and allow feedback loops to be cut once they operate. Unfortunately, regulating markets is fraught with difficulties, not least because of the law of unintended consequences that pervades finance. It is tempting to argue that if any one actor acts safely, then the system altogether is safe. To go beyond this partial equilibrium based fallacy of composition forms a major impetus of our work and leads to robust regulations. Furthermore, such rules are themselves endogenous. It is impossible to understand SR without attention to the political aspects of decision-making that can either lead the authorities to be captured by special interests, stall excessively on decision-making or provide robust resolution of a crisis. In that sense, SR is significantly politically constructed as society has created complex that were all the outcomes of political struggles and compromises. Through our close relationships, the output of the Centre directly impacts policy making and supervision, and the Centre in return is itself informed by policy makers' needs and interests.
1. Endogenous risk, financial policy and risk forecasting
2. Computer-Based Trading (CBT), High-Frequency Trading (HFT) and endogenous market crashes
3. The impact of rules and decision-making
4. Network risk
While it is clear to any observer that the financial system is made up of individuals who in aggregate determine outcomes, surprisingly most models used assume the opposite, that risk is largely exogenous with extreme outcomes supposedly dropped onto financial markets by an outside force. The reason for this is that it is hard to model risk when it is endogenous, so most find the paradigm of exogenous, albeit large, risk to provide an acceptable balance between ease and reliability. But SR by definition involves the entire system with its myriad actors linked together through subtle and endogenous networks and reacting to endogenous news, prices, rules, laws and political processes. By applying endogenous risk and network analysis we can directly identify channels for the creation of SR via the various feedback loops inherent in the financial system.
Experience suggests that endogenous and SR is ever present throughout the financial system and emerges at the confluence of different fields. The Centre research will therefore be interdisciplinary by design. A narrow research focus, based on a single discipline, is unlikely to provide much headway in the understanding of SR. Furthermore, the analysis of the behaviour of an entire system has a long history in the natural sciences. The Centre is able to draw on some of the leading experts in this field looking for a partner to applying their insights to finance. A similar natural fit can be found with computer science. Crashes through sudden coordinated selling have been endemic throughout history, but their danger is becoming more immediate with the presence of CBT as more trading is done by unthinking algorithms that follow mechanical rules at speeds making supervision physically impossible while little about the structure of markets itself is commonly known, leading to second guessing of second guesses. Such uncertainty is further deepened by the nature of the balance-sheet and trading networks which are only starting to be analysed.
One of the highest concerns to society is the design of informed rules (e.g. laws, accountancy standards etc.) and regulations that prevent the build-up of such SR and allow feedback loops to be cut once they operate. Unfortunately, regulating markets is fraught with difficulties, not least because of the law of unintended consequences that pervades finance. It is tempting to argue that if any one actor acts safely, then the system altogether is safe. To go beyond this partial equilibrium based fallacy of composition forms a major impetus of our work and leads to robust regulations. Furthermore, such rules are themselves endogenous. It is impossible to understand SR without attention to the political aspects of decision-making that can either lead the authorities to be captured by special interests, stall excessively on decision-making or provide robust resolution of a crisis. In that sense, SR is significantly politically constructed as society has created complex that were all the outcomes of political struggles and compromises. Through our close relationships, the output of the Centre directly impacts policy making and supervision, and the Centre in return is itself informed by policy makers' needs and interests.
Planned Impact
Central banks (CB) and banking supervisors
The Centre will have impact through existing relationships with key contributors; instrumental impact through influencing the development of policy, practice, and service provision; and capacity building impact through the engagement of junior academics and researchers.
We have strong relationships with the Bank of England (BoE) including senior Bank executives Paul Tucker, Andy Haldane and Anne Wetherilt. Shin advised the BoE 00/05. Yuan was the Houblon-Norman fellow 09/10. Together with Julliard and Wetherilt, Yuan is currently engaged on an empirical network estimation exercise with restricted Bank data. Zigrand is engaged on a project with Wetherilt and Panayi (UCL) and expects to start working with Lord May and Kapadia (BoE) on networks. We have a strong relationship with the Bank's CCBS, exporting Centre output via CCBS courses throughout international CBs. We have agreed on the Bank's future participation in joint projects, delivering research insights directly to beneficiaries.
We regularly work with CBs, e.g. ECB, NY Fed, Austria, France, Netherlands, Iceland and Luxembourg, and contribute to their high-visibility publications, promoting the Centre. Shin has strong links with BIS (adviser 01/03). Danielsson is presenting his work on systemic risk (SR) of the UK treasury and soon to the CBs of Belgium and Netherlands, and a high-level conference at the ECB. We anticipate formalising all of these links in knowledge transfer through the Centre.
We enjoy strong relationships with the FSA, moreover, Lord Turner is an LSE visiting professor and Bassani (FSA) is an FMG research associate. We are proud to have the European Banking Authority (EBA) and its chairman, Andrea Enria, as a formal partner to the Centre. Informing policies at this high level is crucial, and our impact may be larger than at local level, primarily via the breakfast series. Plantin is a member of the Scientific Committee of the French Prudential Supervisory Authority, allowing the Centre to inform the insurance regulators in bilateral discussions.
Government organizations
The UK Treasury is a formal partner of the Centre and expects to benefit significantly. Shin advised the President, Republic of Korea. Zigrand is a lead expert to the Treasury-Foresight project on the Future of Computer Trading, led by Sir John Beddington, where he informs the Treasury Minister. He has been an adviser to the EC. Danielsson gave evidence to the Treasury Select Committee of the UK parliament and to the Economic Affairs Committee, House of Lords, as well as chairing events at European Parliament. We intend to continue this engagement especially via the breakfast series.
Commercial organisations
We have established a partnership with the most important provider of SR relevant data, Markit. Their data contribution is a coup. They are equally excited about our research (e.g. devising a commercial SR indicator) and McNerney is on the Centre's scientific advisory board.
Financial institutions benefit from research on how to estimate and understand SR, not least because of the regulatory costs of capital and liquidity buffers. We have strong links with banks, e.g. Deutsche (their CEO, Vice Chairman and CRO are frequent visitors or visiting professors at LSE). We partner with insurers through AXA-FMG programme. Zigrand is in contact with trading venues, HFTs and clearers through Foresight.
Skills
Junior researchers in the Centre will interact with stakeholders who will do capacity building' through technical/personal skill development.
Media and Public
The Centre will be a natural point of contact to inform the media and public, being the only such independent Centre. We employ a part-time communications officer to manage traditional academic knowledge exchange methods, such as conferences, seminars, and publications, alongside new social media like twitter and blogs, to continuously engage the above beneficiaries.
The Centre will have impact through existing relationships with key contributors; instrumental impact through influencing the development of policy, practice, and service provision; and capacity building impact through the engagement of junior academics and researchers.
We have strong relationships with the Bank of England (BoE) including senior Bank executives Paul Tucker, Andy Haldane and Anne Wetherilt. Shin advised the BoE 00/05. Yuan was the Houblon-Norman fellow 09/10. Together with Julliard and Wetherilt, Yuan is currently engaged on an empirical network estimation exercise with restricted Bank data. Zigrand is engaged on a project with Wetherilt and Panayi (UCL) and expects to start working with Lord May and Kapadia (BoE) on networks. We have a strong relationship with the Bank's CCBS, exporting Centre output via CCBS courses throughout international CBs. We have agreed on the Bank's future participation in joint projects, delivering research insights directly to beneficiaries.
We regularly work with CBs, e.g. ECB, NY Fed, Austria, France, Netherlands, Iceland and Luxembourg, and contribute to their high-visibility publications, promoting the Centre. Shin has strong links with BIS (adviser 01/03). Danielsson is presenting his work on systemic risk (SR) of the UK treasury and soon to the CBs of Belgium and Netherlands, and a high-level conference at the ECB. We anticipate formalising all of these links in knowledge transfer through the Centre.
We enjoy strong relationships with the FSA, moreover, Lord Turner is an LSE visiting professor and Bassani (FSA) is an FMG research associate. We are proud to have the European Banking Authority (EBA) and its chairman, Andrea Enria, as a formal partner to the Centre. Informing policies at this high level is crucial, and our impact may be larger than at local level, primarily via the breakfast series. Plantin is a member of the Scientific Committee of the French Prudential Supervisory Authority, allowing the Centre to inform the insurance regulators in bilateral discussions.
Government organizations
The UK Treasury is a formal partner of the Centre and expects to benefit significantly. Shin advised the President, Republic of Korea. Zigrand is a lead expert to the Treasury-Foresight project on the Future of Computer Trading, led by Sir John Beddington, where he informs the Treasury Minister. He has been an adviser to the EC. Danielsson gave evidence to the Treasury Select Committee of the UK parliament and to the Economic Affairs Committee, House of Lords, as well as chairing events at European Parliament. We intend to continue this engagement especially via the breakfast series.
Commercial organisations
We have established a partnership with the most important provider of SR relevant data, Markit. Their data contribution is a coup. They are equally excited about our research (e.g. devising a commercial SR indicator) and McNerney is on the Centre's scientific advisory board.
Financial institutions benefit from research on how to estimate and understand SR, not least because of the regulatory costs of capital and liquidity buffers. We have strong links with banks, e.g. Deutsche (their CEO, Vice Chairman and CRO are frequent visitors or visiting professors at LSE). We partner with insurers through AXA-FMG programme. Zigrand is in contact with trading venues, HFTs and clearers through Foresight.
Skills
Junior researchers in the Centre will interact with stakeholders who will do capacity building' through technical/personal skill development.
Media and Public
The Centre will be a natural point of contact to inform the media and public, being the only such independent Centre. We employ a part-time communications officer to manage traditional academic knowledge exchange methods, such as conferences, seminars, and publications, alongside new social media like twitter and blogs, to continuously engage the above beneficiaries.
Organisations
- London School of Economics and Political Science (Lead Research Organisation)
- University of Paris-Saclay (Collaboration)
- Sorbonne University (Collaboration)
- Massey University (Collaboration)
- University of Naples (Collaboration)
- Technical University of Munich (Collaboration)
- London Economics (Collaboration)
- IMT School for Advanced Studies Lucca (Collaboration)
- Central Bank of Iceland (Collaboration)
- Conference of European Schools for Advanced Engineering Education and Research (Collaboration)
- University of Amsterdam (Collaboration)
- European University Viadrina Frankfurt (Oder) (Collaboration)
- Paris School of Economics (Collaboration)
- University of Zurich (Collaboration)
- École Polytechnique (Collaboration)
- German Institute for Economic Research (Collaboration)
- Bank of England (Collaboration)
- Pompeu Fabra University (Collaboration)
- European Systemic Risk Board (Collaboration)
- UNIVERSITY OF LEEDS (Collaboration)
- Markit (Collaboration)
- London School of Economics and Political Science (University of London) (Collaboration)
- University of Luxembourg (Collaboration)
- Free University of Brussels (Collaboration)
- University of Tilburg (Collaboration)
- Grantham Institute: Cimate Change and Environemnt (Collaboration)
- Paris Dauphine University (Collaboration)
- University of Melbourne (Collaboration)
- University of Turin (Collaboration)
- International Monetary Fund IMF (Collaboration)
- City, University of London (Collaboration)
- Financial Conduct Authority (FCA) (Collaboration)
- Victoria University of Wellington (Collaboration)
- Centre for Economic Policy Research (Collaboration)
- University of Leuven (Collaboration)
- European Commission (Collaboration)
- European University Institute (Collaboration)
- IHS Markit (United Kingdom) (Project Partner)
Publications
Zigrand JP
(2016)
Brexit has created risks and opportunities for financial markets
Zigrand JP
(2015)
How can we control systemic risk?
Zigrand JP
(2015)
How far do asset managers create systemic risk?
Zigrand JP
(2014)
Systems and Systemic Risk in Finance and Economics
Ziemba WT
(2020)
Parimutuel betting markets: racetracks and lotteries revisited
Ziemba W
(2020)
The COVID-19 Crash in the US Stock Market
in SSRN Electronic Journal
Ziemba W
(2016)
Optimization Challenges in Complex, Networked and Risky Systems
Ziemba W
(2016)
Great Investment Ideas
Ziemba W
(2016)
Non-predictable stock market declines
in Quantitative Finance Letters
Ziemba W
(2020)
The five investor camps that try to beat the stock market
in Borsa Istanbul Review
| Description | 1. Model risk and uncertainty in measuring systemic risk. The financial authorities and private sector firms are actively searching for empirical methodologies for measuring systemic risk. In a series of papers we have shown that most measures currently used are defective, too sensitive to the empirical methods used and reactive rather than predictive. These studies have sharpened regulators' concerns about the scope of their current models. SRC also established a subfield of research dealing with frameworks for measuring model risk, the risk of making wrong decisions with models or choosing the wrong model when facing uncertainty. Being aware of the pitfalls of current methodologies and giving decision-makers the ability to assess the reliability of the statistical methodologies they have to choose from, we show how quality of both macroprudential policy and internal management of risk can be significantly improved, including risk to the trading book (incl. derivatives and repos) and the banking book. 2. Drivers of systemic risk. We established an agenda on forward-looking risk measures. It has long been surmised that periods of low perceived risk motivate economic agents to increase their risk-taking activities, in extremis culminating in a financial crisis. This has remained the hypothesis and not verifiable empirically. While most traditional statistical models are not useful in forecasting systemic events because they do not incorporate the underlying economics if the build-up, work at the SRC is the first to empirically demonstrate such a connection. For instance, low volatility significantly increases the chance of a banking crisis up to 10 years into the future. In addition, this work formally shows that low volatility can serve as an early warning indicator. Work at the SRC has also exhibited successful methods to improve predictions in the stock markets, in shifts in GDP trend growth, in bank shock transmissions, in carry-trades and in cross-border financing. 3. Underlying this is a long list of SRC papers that have influenced thinking in academia and the real world about the procyclical forces operating when building up actual risk, and how the network structure can create especially vicious and unexpected dynamics. Papers have shaped thinking on the systemic effects of intermediation and custody chains, on bank-shadow bank relations, of domino effects in the Eurozone, of accounting regimes, of carry trades, fire sales, procyclical activist investing etc. 4. SRC has taken a leading role in developing the burgeoning field of macroprudential policy. Through our relationships with policy makers, we have also been able to highlight our many macroprudential themed research papers at the SRC, be they on procyclicalities in macro-pru, the interactions between macroprudential and monetary policy, macro-prudential and leverage cycles or what macro-prudential in computer-based markets. Our research findings on macroprudential stress testing led to a joint SRC-IMF white paper, with the active participation of leading policy authorities, such as the Bank of England, the ECB, reserve Bank of India and the Bank of Japan. |
| Exploitation Route | We know the findings of the SRC have been taken forward by academia, policymakers and private sector companies. The research of the SRC has been at the front year of academic investigations and academic researchers in other institutions have already been using SRC output in their own work to a significant degree. The SRC started with close connections with key policymaking bodies and has continued to develop those relationships, and the work of the SRC, both academic research and policy analysis will have direct impact on the evolution of financial regulations and especially macro prudential policies. Private sector institutions concerned with tail risk and systemic risk, and the impact of policy environment on their operations have increasingly been seeking advice from the SRC. This includes both smaller firms in the rapid growth phase and some of the largest financial institutions, up to and including the highest levels of management. Many students at LSE and UCL have benefited from our research and from the access to the data sources the SRC has secured. |
| Sectors | Financial Services, and Management Consultancy,Government, Democracy and Justice |
| Description | The impact of SRC has been, in two policy areas, the fostering of global economic performance as well as the effectiveness of public services and policy, achieved via the following channels. The UK depends on its financial sector for its economic well-being to a higher degree than most large industrialized countries. This makes the UK especially vulnerable to systemic risk. Should the UK significantly reduce the size of the financial system to minimize the danger posed by it or find a way to address the most dangerous aspects in the most cost-effective way. The SRC work has had significant impact on the latter. By better understanding the nature of systemic risk, how it arises and how it can be managed, policies can be effectively targeted to the most relevant aspects and not be wasted elsewhere. In 2014 the SRC joint with Goldman Sachs, organized an event, which included ministerial representation from the UK and Germany. In 2015, the SRC along with the IMF and the ECB, and with participation from the Bank of England, organized an event on stress testing, which further led to a high-level event in IMF headquarters in 2016, culminating in an IMF- SRC white paper on macroprudential stress testing. The SRC hosted a joint conference in 2019 with U.K.'s DSTL, defence science technology laboratory on the role of financial system in a major cyber attack on the UK. One of the two SRC directors has sat on macro prudential advisory boards and a central bank board. SRC staff is frequently asked to develop research on high-level policy discussions, including a Bank of England event on cyber risk, and another on artificial intelligence. As well as a FSB advanced threat event. Covid 19 significantly slowed down direct engagements, but the SRC has this year been called on to participate in high-level official discussions on the regulation of crypto currencies and secondary consequences of monetary policy interventions. A SRC CI Micheler used SRC work as a member of the EU Expert Group on Technical Aspects of Corporate Governance Processes which drafted the 2018 Implementing Regulation for the Shareholder Rights Directive II (Commission Implementing Regulation (EU 2018/1212). She contributed her expertise on securities law and core company law to the discussion of the group. Her work has further been used by the FCA in what is known as Digital Regulatory Reporting. The work on computer trading done at the SRC has led to amendments in the Mifid II directive and regulation with regards to the roles of time and various proposed trading and reporting rules that would have had unintended outcomes. Some of the above themes elaborated in the SRC formed the basis of the successfully retained Impact Case Study by LSE (Danielsson and Zigrand) for the REF. This can be identified by several milestones, which represents the culmination of SRC work. In 2014 the SRC along with a private financial institution, Goldman Sachs, organized an event, which included ministerial representation from the UK and Germany, on the Capital Markets Union and how to achieve growth in the small and medium-sized enterprise sector. In 2015, the SRC along with the IMF and the ECB, and with participation from the Bank of England, organized an event on stress testing, which further led to a high-level event in IMF headquarters in 2016 and will culminate in an IMF- SRC white paper on macroprudential stress testing. |
| First Year Of Impact | 2014 |
| Sector | Financial Services, and Management Consultancy,Government, Democracy and Justice |
| Impact Types | Economic,Policy & public services |
| Description | Beunza - training of executives at a top-four British bank in the use of ethnographic methods |
| Geographic Reach | National |
| Policy Influence Type | Influenced training of practitioners or researchers |
| Description | Brunello Rosa - Contributed to the drafting of the document Next Generation Italia, which was widely used by the Italian government to produce its first draft of Italy's Recovery and Resilience national plan |
| Geographic Reach | Europe |
| Policy Influence Type | Contribution to a national consultation/review |
| URL | http://www.associazionemandm.org/storage/media/2021/01/137/next-generation-italia-finale.pdf |
| Description | Charles Goodhart - House of Commons Treasury Committee, on 'Jobs, growth and Productivity after coronavirus' |
| Geographic Reach | National |
| Policy Influence Type | Contribution to a national consultation/review |
| URL | https://committees.parliament.uk/oralevidence/10211/html/ |
| Description | Daniel Beunza tarted an ethnography training programme for bank executives with the UK Banking Standards Board, aimed at improving gender equality, diversity and inclusion in the City. |
| Geographic Reach | National |
| Policy Influence Type | Influenced training of practitioners or researchers |
| Description | Danielsson - artificial intelligence and financial stability. Meeting in Bank of England |
| Geographic Reach | National |
| Policy Influence Type | Participation in a guidance/advisory committee |
| Description | Dimitri Vayanos was a member of the committee in writing the Growth Plan requested by the Greek government. The Growth Plan contains proposals for radical reforms across many areas of the economy, such as Public Administration, Justice, Education, Taxation, Insurance, Social Welfare, Spatial Planning, Labour, Finance, Innovation and Infrastructure. If the proposals in the Plan are implemented, then Greece could achieve strong growth of 3.5% annually in the coming decade, through improvements in productivity and labour force participation. The proposals in the Growth Plan have generated a lively debate in Greece. They were influential in shaping the government's Recovery and Resilience Plan, submitted to the European Commission for funding. Looking ahead, the Plan can serve as a guide and benchmark for the current and future Greek governments to implement much-needed reforms to help Greece achieve its economic potential and exit for good the crisis that it has gotten into. |
| Geographic Reach | Europe |
| Policy Influence Type | Participation in a guidance/advisory committee |
| URL | https://government.gov.gr/schedio-anaptixis-gia-tin-elliniki-ikonomia/?fbclid=IwAR3eucZpuMCoXzOcKzRh... |
| Description | Khaladdin Rzayev contributed to the commissioned report "Factors influencing the decline in the number of public companies in the UK" for the All Party Parliamentary Corporate Governance Group (APPCGG) |
| Geographic Reach | National |
| Policy Influence Type | Participation in a guidance/advisory committee |
| URL | https://www.appcgg.co.uk/wp-content/uploads/2020/12/APPCGG-202-report-Edinburgh.pdf |
| Description | Micheler - Bank of England |
| Geographic Reach | National |
| Policy Influence Type | Citation in other policy documents |
| Description | Micheler - research on securities law has had impact that could be relevant for REF. Eva Micheler has been contacted by and is now on the advisory board of a fintech company, Equichain, which is building a blockchain/distributed ledger based holding system. They are using her work to explain the shortcomings of the current infrastructure to potential clients and that enables them to better promote the system they are trying to develop (contact: Nick Bone, CEO). |
| Geographic Reach | National |
| Policy Influence Type | Participation in a guidance/advisory committee |
| Description | Orkun Saka - EU Commission report on pandemic recovery |
| Geographic Reach | Multiple continents/international |
| Policy Influence Type | Citation in other policy documents |
| URL | https://economy-finance.ec.europa.eu/publications/new-era-europe-how-european-union-can-make-most-it... |
| Description | Orkun Saka contribution to the EBRD Transition Report 2020-21, which is the flagship publication of the European Bank for Reconstruction and Development. This report gets presented in all member countries of the EBRD and influences policy decisions both inside the EBRD and around the world.. |
| Geographic Reach | Europe |
| Policy Influence Type | Participation in a guidance/advisory committee |
| URL | https://2020.tr-ebrd.com/state-banks-on-the-rise/ |
| Description | Paolo Tasca - Permanent Member ISO TC307 and Member DLT/1 Technical Committee, British Standard Institution, London |
| Geographic Reach | National |
| Policy Influence Type | Membership of a guideline committee |
| Description | Peter Andrews - Senior Adviser on this report for the High Court of Ireland |
| Geographic Reach | National |
| Policy Influence Type | Contribution to a national consultation/review |
| Impact | Peter Andrews was Senior Adviser on this Expert Report for the High Court of Ireland. A new landmark ruling by the Irish High Court has determined that almost 1,400 investors who had been left out of pocket by Custom House Capital must be paid compensation, despite attempts from the Investor Compensation Company DAC to block payment. This test case will set a precedent for future investor compensation scheme cases in Ireland. Many pensioners have lost large sums of money and/or have been left without access to their pension pots for over ten years as a result of this case. This judgment will enable these individuals to receive some compensation for their losses. The ruling highlights the importance of quick and speedy compensation payments. The key objective of any investor compensation scheme is to maintain market confidence. If a compensation scheme is to be a success, it must pay compensation quickly. |
| URL | https://www.oxera.com/about-us/media-centre/investor-compensation-scheme-landmark-ruling-means-1400-... |
| Description | Rebooting UK Financial Regulation for a Post-Brexit World |
| Geographic Reach | National |
| Policy Influence Type | Contribution to new or Improved professional practice |
| Impact | Our "Rebooting UK Financial Regulation for a Post-Brexit World" (9 Feb 2021) made the case that financial market regulators should focus on how to construct a regulatory regime that promoted economic growth. As a result of our conference presentation, Akshay Kotak (SRC), Dimitri Tsomocos (Said Business School and SRC), and Kevin James met with the Treasury team leading the review of the UK's financial system architecture to elaborate upon our analysis. In part due to this effort, the conference itself, and making the case for our ideas through blogs and seminars, "The government intends to provide for a greater focus on growth and international competitiveness through the introduction of new secondary objectives for the PRA and the FCA" (HMT, Financial Services Future Regulatory Framework Review: Proposals for Reform", Nov 2021). |
| Description | The conference "Rebooting UK Financial Regulation for a Post-Brexit World" in Feb 2021 was inspired by the Treasury's Future Regulatory Framework Review and was designed to provide the Treasury and market participants with ideas on how to improve the architecture of the UK's financial regulatory system. The conference led directly to formal submissions to the Treasury's review and influenced submissions by other market participants. |
| Geographic Reach | Europe |
| Policy Influence Type | Contribution to a national consultation/review |
| URL | https://www.systemicrisk.ac.uk/events/rebooting-uk-financial-regulation-post-brexit-world |
| Description | Zigrand - Bank of England macroprudential advisory committee |
| Geographic Reach | National |
| Policy Influence Type | Participation in a guidance/advisory committee |
| Description | ATLANTIS - Digging into High Frequency Financial Data: present and future risks and opportunities |
| Amount | £842,794 (GBP) |
| Funding ID | ES/R004021/1 |
| Organisation | Economic and Social Research Council |
| Sector | Public |
| Country | United Kingdom |
| Start | 08/2017 |
| End | 07/2020 |
| Description | AXA Research Award (Systemic Risk in Non-Democracies: What Determines the Political Consequences over the Long Run? PI: Chwieroth) |
| Amount | € 250,000 (EUR) |
| Organisation | AXA |
| Department | AXA Research Fund |
| Sector | Private |
| Country | France |
| Start | 01/2016 |
| End | 01/2019 |
| Description | Capital Markets Union Research Programme |
| Amount | £200,000 (GBP) |
| Organisation | Deutsche Börse |
| Sector | Private |
| Country | Germany |
| Start | 12/2016 |
| End | 11/2018 |
| Description | Donation - Marlowe Capital Ltd |
| Amount | £4,000 (GBP) |
| Organisation | Marlowe Capital Limited |
| Sector | Private |
| Country | United Kingdom |
| Start | 04/2017 |
| End | 04/2018 |
| Description | Donation from Mizuho International plc |
| Amount | £22,000 (GBP) |
| Organisation | Mizuho International plc |
| Sector | Private |
| Country | United Kingdom |
| Start | 03/2014 |
| End | 10/2017 |
| Description | Donation from Rudd Family Foundation |
| Amount | $12,477 (USD) |
| Organisation | Rudd Family Foundation |
| Sector | Private |
| Country | United States |
| Start | 09/2015 |
| End | 09/2016 |
| Description | EPSRC Distributed Ledger Technology - Blockchain technology for Algorithmic Regulation And Compliance (BARAC) |
| Amount | £609,382 (GBP) |
| Funding ID | EP/P031730/1 |
| Organisation | Engineering and Physical Sciences Research Council (EPSRC) |
| Sector | Public |
| Country | United Kingdom |
| Start | 04/2017 |
| End | 03/2019 |
| Description | ESRC IAA NPIF industry secondment for Early Career Researchers (ECR) - Alper Odabasioglu |
| Amount | £55,764 (GBP) |
| Organisation | Economic and Social Research Council |
| Sector | Public |
| Country | United Kingdom |
| Start | 07/2018 |
| End | 03/2019 |
| Description | ESRC-NSFC Call for Collaborative Research Developing financial systems to support sustainable growth in China |
| Amount | £551,530 (GBP) |
| Funding ID | ES/P004237/1 |
| Organisation | Economic and Social Research Council |
| Sector | Public |
| Country | United Kingdom |
| Start | 01/2017 |
| End | 12/2019 |
| Description | Jointly-funded Post-doctoral LSE-IHS Markit Research Officer position |
| Amount | £65,000 (GBP) |
| Organisation | Markit |
| Sector | Public |
| Country | United Kingdom |
| Start | 09/2021 |
| End | 09/2023 |
| Description | Marie Sklodowska-Curie Individual Fellowships (Panayotis Michaelidis) Capital Markets Union Programme |
| Amount | € 183,455 (EUR) |
| Organisation | European Commission |
| Sector | Public |
| Country | European Union (EU) |
| Start | 09/2018 |
| End | 08/2020 |
| Description | Microsoft Azure Research Award |
| Amount | $20,000 (USD) |
| Organisation | Microsoft Research |
| Sector | Private |
| Country | Global |
| Start | 03/2016 |
| End | 03/2017 |
| Description | Beunza - collaboration with Grantham Institute |
| Organisation | Grantham Institute: Cimate Change and Environemnt |
| Country | United Kingdom |
| Sector | Public |
| PI Contribution | Daniel Beunza is collaborating with the LSE Grantham Institute in the form of a coauthored project with Matthias Täger, a member of the Institute and PhD candidate in LSE's Department of Geography and Environment. Started in May 2021 and ongoing. |
| Collaborator Contribution | Daniel Beunza is collaborating with the LSE Grantham Institute in the form of a coauthored project with Matthias Täger, a member of the Institute and PhD candidate in LSE's Department of Geography and Environment. Started in May 2021 and ongoing. |
| Impact | No outputs yet. |
| Start Year | 2021 |
| Description | Collaboration with Bank of England |
| Organisation | Bank of England |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Researchers such as Ron Anderson and Jon Danielsson contributed their expertise in the research into stress testing and financial regulation. A joint workshop on Modelling Risk Amplification Mechanisms for Macro-prudential Policymaking was organised in December 2016. |
| Collaborator Contribution | The Bank of England provided expertise in stress testing and co-organised the workshop and provided expert logistical support.. |
| Impact | A workshop on Modelling Risk Amplification Mechanisms for Macro-prudential Policymaking was successfully organised in December 2016. |
| Start Year | 2016 |
| Description | Collaboration with Centre for Macroeconomics |
| Organisation | London School of Economics and Political Science (University of London) |
| Department | Centre for Macroeconomics (CFM) |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | Collaboration with Centre for Macroeconomics on organisation of events and workshops as well as research activities |
| Collaborator Contribution | Their expertise input and connections |
| Impact | Events and workshops |
| Start Year | 2013 |
| Description | Collaboration with Department of Management, LSE |
| Organisation | London School of Economics and Political Science (University of London) |
| Department | Department of Management |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | Collaboration with Department of Management, LSE on organisation of events and workshops as well as capacity building research activities |
| Collaborator Contribution | Their expert input and connections |
| Impact | Workshops |
| Start Year | 2013 |
| Description | Collaboration with Financial Conduct Authority |
| Organisation | Financial Conduct Authority (FCA) |
| Country | United Kingdom |
| Sector | Public |
| PI Contribution | Jon Danielsson and Kevin James contributed to the formulation of the scientific programme of the joint conference "Understanding Financial Market Effectiveness: New Approaches" co-organised with the FCA in February 2016 and the joint conference "Schumpeter, Minsky, and the FCA: Exploring the links between financial regulation, growth, and stability" in June 2017. |
| Collaborator Contribution | The FCA contributed towards the costs of speakers' expenses, provided administrative support, and also organised media activities. |
| Impact | The conference "Understanding Financial Market Effectiveness: New Approaches" was successfully held in February 2016. Conference "Schumpeter, Minsky, and the FCA: Exploring the links between financial regulation, growth, and stability" was successfully held in 2017. |
| Start Year | 2016 |
| Description | Collaboration with Financial Market Infrastructure Directorate at the Bank of England (Braithwaite) |
| Organisation | Bank of England |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Jo Braithwaite has been developing links with the Financial Market Infrastructure Directorate at the Bank of England, including co-organising two events in 2017, one of which will be a research workshop at LSE (9 May 2017) and one of which will be a global conference on financial market infrastructure to be held in Amsterdam in June 2017. Braithwaite contributes her legal expertise in these areas. |
| Collaborator Contribution | The partners have been working together to organise relevant events for the intended audience. |
| Impact | Research workshop at LSE (9 May 2017), a global conference on financial market infrastructure held in Amsterdam in June 2017, and Financial Stability Paper NO. 37. |
| Start Year | 2017 |
| Description | Collaboration with Financial Markets Group, LSE |
| Organisation | London School of Economics and Political Science (University of London) |
| Department | Financial Markets Group Research Centre |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | Joint events organised with Financial Markets Group, LSE. Our team contributes expertise in systemic risk research, macroprudential policy, and financial regulation and crises. |
| Collaborator Contribution | The Financial Markets Group, LSE, have contributed their expertise in financial markets research. |
| Impact | Jointly organised events: Conference on The Future of Computer Trading in Financial Markets on 11th January 2013; Panel discussion on Unintended Consequences of the New Financial Regulations 11th March 2013; Conference on Economic Networks and Banking Conference on 5th July 2013; Conference on The Global Reform of Financial Regulation and Architecture: How to Balance Safety and Efficiency on 17th Sept 2013; Economic Networks and Finance - Conference on 3rd Oct 2014; Conference on Stress Testing and Macro-prudential Regulation: A Trans-Atlantic Assessment on 29-30th Oct 2015; Third Economic Networks and Finance - Conference on 11th Dec 2015; Conference on Understanding Financial Market Effectiveness: New Approaches on 19-20 Feb 2016; Public lecture on The Single EU Capital Market: progress and challenges on 23rd May 2016; Fourth Economic Networks and Finance Conference on 9th Dec 2016. |
| Start Year | 2013 |
| Description | Collaboration with International Monetary Fund |
| Organisation | International Monetary Fund IMF |
| Country | United States |
| Sector | Charity/Non Profit |
| PI Contribution | Systemic Risk Centre and the IMF have collaborated on several projects, including the conferences "Capital Flows, Systemic Risk, and Policy Responses" held in Reykjavik in April 2016 and "Macroprudential Stress Test and Policies: A Framework" held in December 2016 in Washington DC. Jon Danielsson and Ron Anderson from SRC contributed their expertise in the research into stress testing, were the main organisers of this event and convened the steering group. |
| Collaborator Contribution | The International Monetary Fund contributed their expertise in this area and to the scientific programme of the events. They acted as an important liaison party to regulatory agencies around the world. |
| Impact | A symposium "Macroprudential Stress Test and Policies: A Framework" was successfully organised in December 2016. |
| Start Year | 2016 |
| Description | Collaboration with Markit |
| Organisation | Markit |
| Country | United Kingdom |
| Sector | Public |
| PI Contribution | Markit is the Centre's data partner |
| Collaborator Contribution | Provision of data for research |
| Impact | academic publications |
| Start Year | 2012 |
| Description | Collaboration with Paul Woolley Centre, LSE |
| Organisation | London School of Economics and Political Science (University of London) |
| Department | Paul Woolley Centre |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | Our team contributes our expertise in systemic risk research and event organisation. |
| Collaborator Contribution | The Paul Woolley Centre, LSE organises topics of mutual interest for discussion in joint events. |
| Impact | European Safe Bonds - Breakfast Meeting pm 2nd Dec 2016 |
| Start Year | 2016 |
| Description | Collaboration with Philip Stork (VU University Amsterdam) and Sasha Molchanov (Massay University) |
| Organisation | University of Amsterdam |
| Country | Netherlands |
| Sector | Academic/University |
| PI Contribution | Lerby Ergun's research collaboration with Philip Stork(VU university Amsterdam) and Sasha Molchanov (Massay University) On trading strategies and tail risk. |
| Collaborator Contribution | Joint research papers |
| Impact | Research papers to appear |
| Start Year | 2016 |
| Description | Collaboration with Philip Stork (VU university Amsterdam) and Sasha Molchanov (Massay University) |
| Organisation | Massey University |
| Country | New Zealand |
| Sector | Academic/University |
| PI Contribution | Lerby Ergun's research collaboration with Philip Stork (VU University Amsterdam) and Sasha Molchanov (Massay University) on trading strategies and tail risk. |
| Collaborator Contribution | Joint research papers |
| Impact | Research papers to appear |
| Start Year | 2016 |
| Description | Collaboration with Technical University Munich |
| Organisation | Technical University of Munich |
| Country | Germany |
| Sector | Academic/University |
| PI Contribution | Active research collaboration between K Moore (Research staff) and Oliver Kley at the Technical University of Munich. |
| Collaborator Contribution | Active research collaboration between K Moore (Research staff) and Oliver Kley at the Technical University of Munich. |
| Impact | Oliver Kley presented a paper at an SRC conference. |
| Start Year | 2014 |
| Description | Collaboration with University of Melbourne and its School of Government |
| Organisation | University of Melbourne |
| Department | Centre of Systems Genomics |
| Country | Australia |
| Sector | Academic/University |
| PI Contribution | Jeffrey Chwieroth's research collaboration with University of Melbourne and its School of Government. |
| Collaborator Contribution | Joint research papers and grant applications |
| Impact | Research papers and grant applications leading to projects |
| Start Year | 2015 |
| Description | Collaboration with Victoria University of Wellington |
| Organisation | Victoria University of Wellington |
| Country | New Zealand |
| Sector | Academic/University |
| PI Contribution | Lerby Ergun's research collaboration with Cheng Zhang (Victoria University of Wellington) on Hedge Funds activism and the securities lending market. |
| Collaborator Contribution | To produce joint research papers |
| Impact | Outputs to appear |
| Start Year | 2016 |
| Description | Collaboration with the Central Bank of Iceland |
| Organisation | Central Bank of Iceland |
| Country | Iceland |
| Sector | Public |
| PI Contribution | Jon Danielsson and Katja Neugebauer contributed in expertise in research in capital flows to the scientific programme of the joint conference "Capital Flows, Systemic Risk, and Policy Responses" held in Reykjavik in April 2016. |
| Collaborator Contribution | The Central Bank of Iceland contributed time of their experts, e.g. Sigríður Benediktsdóttir, in formulating the scientific programme of the conference in April 2016. They also provided a conference venue and logistical support. |
| Impact | The conference "Capital Flows, Systemic Risk, and Policy Responses" was successfully held in Reykjavik in April 2016. |
| Start Year | 2016 |
| Description | Collaboration with the Law and Financial Markets Project, LSE |
| Organisation | London School of Economics and Political Science (University of London) |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | Active collaboration with the Law and Financial Markets Project led by Dr Eva Micheler on event organisation |
| Collaborator Contribution | Our team contributes our expertise in finance research and financial markets. |
| Impact | Conference on Perspectives on systemic risk on 16th October 2014; Public lecture on Law, finance and the abyss on 12th March 2015; Conference on The Lloyd's crisis and its resolution: Legal aspects on 17th November 2015; Conference on Blockchain and financial markets technology: Perspectives from law, finance and computer science on 10th June 2016; Public lecture on Financial regulation: Back to the future? on 10th January 2017. |
| Start Year | 2014 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | Centre for Economic Policy Research |
| Country | United Kingdom |
| Sector | Charity/Non Profit |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | Conference of European Schools for Advanced Engineering Education and Research |
| Country | Belgium |
| Sector | Charity/Non Profit |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | Ecole Polytechnique |
| Country | France |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | European Commission |
| Department | Joint Research Centre (JRC) |
| Country | European Union (EU) |
| Sector | Public |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | European University Institute |
| Country | Italy |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | European University Viadrina Frankfurt (Oder) |
| Country | Germany |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | Free University of Brussels |
| Country | Belgium |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | German Institute for Economic Research |
| Country | Germany |
| Sector | Charity/Non Profit |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | IMT School for Advanced Studies Lucca |
| Country | Italy |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | Paris Dauphine University |
| Country | France |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | Paris School of Economics |
| Country | France |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | Pompeu Fabra University |
| Country | Spain |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | Sorbonne University |
| Department | Ecole de Management Labex Refi |
| Country | France |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | University of Leeds |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | University of Leuven |
| Country | Belgium |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | University of Luxembourg |
| Country | Luxembourg |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | University of Naples |
| Country | Italy |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | University of Paris-Saclay |
| Country | France |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | University of Tilburg |
| Department | European Banking Center |
| Country | Netherlands |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | University of Turin |
| Country | Italy |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | EU-wide collaboration of financial research initiated by Joint Research Centre of the European Commission (JRC) |
| Organisation | University of Zurich |
| Country | Switzerland |
| Sector | Academic/University |
| PI Contribution | The general objective of this Collaboration Agreement is to contribute more effectively to understanding and resolving scientific issues in the field of financial research and to ensure that discoveries, inventions and creations generated under this Collaboration Agreement are utilized in ways most likely to benefit the public. We have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing our fields of expertise. |
| Collaborator Contribution | The partners have been actively participating in meetings and workshops to improve the co-ordination and effectiveness of co-operation efforts between academic institutions and the Commission in the field of financial research by sharing their fields of expertise; to promote mutual interest and co-operation in understanding and resolving financial stability and financial market issues; and to deepen the understanding of the scientific, economic and social issues relating to financial stability and capital markets. |
| Impact | No outputs yet. |
| Start Year | 2017 |
| Description | Impact of the Capital Requirements Regulation (CRR) on the Access to Finance for Business and Long-Term Investments |
| Organisation | London Economics |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Katja Neugebauer is a Member of the Expert Advisory Panel of "Impact of the Capital Requirements Regulation (CRR) on the Access to Finance for Business and Long-Term Investments" conducted by London Economics appointed by European Commission, 2015-2016. |
| Collaborator Contribution | Katja Neugebauer is a Member of the Expert Advisory Panel. |
| Impact | Outputs to follow |
| Start Year | 2015 |
| Description | Micheler - FinTech & RegTech Strategy |
| Organisation | Financial Conduct Authority (FCA) |
| Country | United Kingdom |
| Sector | Public |
| PI Contribution | Eva Micheler is working with the FCA the FCA's FinTech & RegTech Strategy team and involved in the FCA's work on automating and translating into code certain aspects of their handbook. |
| Collaborator Contribution | Eva Micheler is working with the FCA the FCA's FinTech & RegTech Strategy team and involved in the FCA's work on automating and translating into code certain aspects of their handbook. |
| Impact | It is multi-disciplinary - law and finance. |
| Start Year | 2017 |
| Description | Odabasioglu Collaboration with the Bank of England researchers/risk experts at the Financial Markets Infrastructure (FMI) directorate's Risk, Research and CCP Policy division" (with Emmanouil Karimalis at the Bank of England) |
| Organisation | Bank of England |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | This collaboration makes use of the supervisory CCP data on clearing members' P&L distributions and initial margins. It aims to have implications for existing risk management and stress testing practices by the CCPs (particularly the "Cover 2" methodology) by developing a novel Conditional Value-at-Risk (CoVaR) framework that incorporates spill-over effects among clearing members. At a second phase, it is considered to extend the modelling framework with a systemic risk angle to allow for CCP interdependencies, and eventually contribute to the development of new supervisory CCP stress-testing frameworks. |
| Collaborator Contribution | This collaboration makes use of the supervisory CCP data on clearing members' P&L distributions and initial margins. It aims to have implications for existing risk management and stress testing practices by the CCPs (particularly the "Cover 2" methodology) by developing a novel Conditional Value-at-Risk (CoVaR) framework that incorporates spill-over effects among clearing members. At a second phase, it is considered to extend the modelling framework with a systemic risk angle to allow for CCP interdependencies, and eventually contribute to the development of new supervisory CCP stress-testing frameworks. |
| Impact | None yet |
| Start Year | 2017 |
| Description | Odabasioglu collaboration with ESRB |
| Organisation | European Systemic Risk Board |
| Country | Germany |
| Sector | Public |
| PI Contribution | Alper Odabasioglu provided his expertise and conducted research on major banks by making use of the EMIR TR (derivatives) dataset. The focus has been on risk management and systemic risk aspects, and one of the project goals has been to contribute to the development of related novel systemic risk measures and early warning indicators. He has conducted research on the EMIR data with the aim of having positive impact on the macro-prudential policy measures influenced by the ESRB, specifically regarding the G20 reforms to improve the safety of OTC derivatives markets. In April 2017, Odabasioglu met with the various experts (ESRB and other) in Frankfurt, (i) for transfer of knowledge, and (ii) in order to initiate the second phase of this project. |
| Collaborator Contribution | Alper Odabasioglu provided his expertise and conducted research on major banks by making use of the EMIR TR (derivatives) dataset. The focus has been on risk management and systemic risk aspects, and one of the project goals has been to contribute to the development of related novel systemic risk measures and early warning indicators. He has conducted research on the EMIR data with the aim of having positive impact on the macro-prudential policy measures influenced by the ESRB, specifically regarding the G20 reforms to improve the safety of OTC derivatives markets. In April 2017, Odabasioglu met with the various experts (ESRB and other) in Frankfurt, (i) for transfer of knowledge, and (ii) in order to initiate the second phase of this project. |
| Impact | "European Systemic Risk Board - Joint Expert Group on Interconnectedness (JEGI) Meeting, and EMIR TR Dataset Workshop" participation on 10-11 April 2017, Frankfurt, Germany" (with Tuomas Peltonen at ESRB). |
| Start Year | 2017 |
| Description | Orkun Saka - collaboration with City Business School |
| Organisation | City, University of London |
| Department | Cass Business School |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | Orkun Saka brought together the Systemic Risk Centre and the City, University of London to co-organise the 1st London Political Finance (POLFIN) workshop, which has become an annual joint event. |
| Collaborator Contribution | The collaborator contributed to the theme and scientific programme of the workshop and provided logistical support. |
| Impact | The 1st London POLFIN workshop was successfully held in June 2020. |
| Start Year | 2020 |
| Description | 2030 Sustainability Goals: can businesses rise to the challenge? |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A panel discussion on 25th February 2020. Speakers: Catherine Howarth (CEO, ShareAction), Julie Hudson (Global Head of ESG Research, UBS IB), Peter Lacy (Senior Managing Director, Accenture), Mary Martin (Director of the UN Business and Human Security Initiative, LSE) Chair: Lutfey Siddiqi (Visiting Professor in Practice, LSE IDEAS and Advisory Board member, Systemic Risk Centre, LSE) Almost five years into the fifteen-year trek towards the UN Sustainable Development Goals, the role of business in delivering social and environmental outcomes is squarely in the spotlight. The convening objective of the World Economic Forum this year is to give concrete meaning to "stakeholder capitalism". In August 2019, the Business Roundtable whose members are chief executives of major US companies issued a path-breaking declaration on the purpose of a corporation: to serve all stakeholders, moving away from shareholder primacy. A month later, the UN Global Compact and Accenture Strategy unveiled the world's largest CEO study, across countries and sectors, to assess business execution towards the SDGs. So, what is the state of play? Are businesses on track to deliver on their side of the bargain? What are the best practices? What are the shortcomings and pitfalls to watch out for? What steps are required, by whom and in what sequence, to ramp up private sector contribution to the SDGs? Can businesses really rise to the challenge? The panel discussion sparked interesting discussion and questions. |
| Year(s) Of Engagement Activity | 2020 |
| URL | http://www.systemicrisk.ac.uk/events/2030-sustainability-goals-can-businesses-rise-challenge |
| Description | 22nd Annual Workshop on Economic Science with Heterogeneous Interacting Agents - Fabio Caccioli |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Fabio caccioli presented "Analytic solution to variance optimization with no short-selling" at the 22nd Annual Workshop on Economic Science with Heterogeneous Interacting Agents organised by Università Cattolica del Sacro Cuore, Milan. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://centridiricerca.unicatt.it/complexity-the-complexity-lab-in-economics-cle-wehia-2017 |
| Description | 2nd LSE Workshop on Political Economy of Turkey |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | The European Institute and the Systemic Risk Centre at the London School of Economics and Political Science jointly organised a workshop on Political Economy of Turkey. The workshop provided a platform for researchers and policymakers to discuss new research and to identify areas where further academic and policy-oriented work is needed. The workshop features a keynote speech by Professor Sule Alan (European University Institute, J-PAL, IPA & Character Lab). |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/events/2nd-lse-workshop-political-economy-turkey |
| Description | 2nd London Political Finance (POLFIN) Workshop |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | The Systemic Risk Centre at the London School of Economics and Political Science (LSE) and the Business School (formerly Cass) at the City, University of London are jointly organising a workshop on the theme of political finance.There was a dedicated discussant for each paper, as well as open floor discussion. The workshop featured a keynote speech by Professor Renée B. Adams (Oxford) on "Gatekeepers: Real and Imagined". The conference sparked questions and discussions among the audience, and interests in the various topics covered. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/events/2nd-london-political-finance-polfin-workshop |
| Description | 3rd LSE Workshop on Political Economy of Turkey |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | The European Institute and the Systemic Risk Centre at the London School of Economics and Political Science are jointly organising a workshop on Political Economy of Turkey. The workshop provides a platform for researchers and policymakers to discuss new research and to identify areas where further academic and policy-oriented work is needed. There was a dedicated discussant for each paper, as well as open floor discussion. The workshop featured a keynote speech by Professor Daron Acemoglu (MIT). The event sparked questions and discussions among the audience, and generated interests in the topic covered. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/events/3rd-lse-workshop-political-economy-turkey |
| Description | 50 Years of Altman Z-Score: what have we learned and the applications in financial and managerial markets |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by Edward Altman (Professor Emeritus of Finance at New York University, Stern School of Business) on 16th October 2019. Professor Edward Altman from NYU Stern presented a talk on a "50 year retrospective on his famed Z-score model", with applications to financial and managerial markets. Dr Altman will also debunk certain assertions about his models and how they should be applied in today's modern financial markets. Finally, he will discuss briefly his opinions on where we are in the credit cycle today and outlook for credit markets. The talk sparked discussions and questions afterwards. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/50-years-altman-z-score |
| Description | ?et? ap? ???s? ?a p??pe? ?a ?p???e? µe?a??te?? ??s?? (InBusiness News) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson's work on financial crisis and risk was cited in the Greek media outlet "InBusiness News". It increased interest in the topics and raised the reputation of SRC and LSE. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.inbusinessnews.com/inbusiness/news/business/services/j%CE%BF%CC%81n-dan%CE%B9%CC%81elsson... |
| Description | A Bonfire of Regulation? (WSJ) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson's blog post "Will Brexit give us the 1950s or Hong Kong?" was cited in Wall Street Journal. It increased interests in the topics and raised the profile of SRC. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://blogs.wsj.com/briefly/2016/06/03/this-weeks-brexit-briefing-at-a-glance-12/ |
| Description | A One Factor Benchmark Model for Asset Pricing |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk by C Julliard at Workshop in Financial Economics on 7-8 November 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | A One Factor Benchmark Model for Asset Pricing |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk by C Julliard at Wharton School, Philadelphia in November 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | A model of investment subject to financing constraints - seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Seminar 'A model of investment subject to financing constraints' given by Alistair Milne The seminar generated useful discussion |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/seminars/alistair-milne |
| Description | A network analysis of the E-mid interbank market: implications for financial stability |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Type Of Presentation | keynote/invited speaker |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Seminar by Giulia Iori on "A network analysis of the E-mid interbank market: implications for financial stability" Interaction with relevant academic audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/giulia-iori |
| Description | Address to LSE alumni in Beijing (Danielsson) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Jon Danielsson addressed LSE alumni in Beijing in April 2015 to disseminate the work of Systemic Risk Centre. The meeting sparked questions and discussion afterwards. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Alan Turing Institute Financial Summit (Zigrand) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Jean-Pierre Zigrand attended the Alan Turing Institute Financial Summit on 14th October 2015 intended to build engagement with the financial sector and enable those in industry and public sector to contribute to the ATI the work programme. The event sparked questions and discussion afterwards. |
| Year(s) Of Engagement Activity | 2015 |
| Description | American Physical Society March Meeting |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | "Pathways towards instability in financial networks" (G Caldarelli, M Bardoscia, F Caccioli, S Battiston) was presented in section Session S15: Spins and Complex Systems during the APS March Meeting 2017 that took place in New Orleans, Louisiana. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://meetings.aps.org/Meeting/MAR17/Session/M1 |
| Description | Amlan Roy - FTSE Russell conference interview |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Amlan Roy was invited to give a video interview at FTSE Russell conference titled "Demographics: Tell the Future". |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.youtube.com/watch?v=NS4JX4hSTUg |
| Description | An Institutional Theory of the Firm |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Date: 16-17th June 2022 Time: 1.5 day event Venue: Conference room, 1.06, Marshall Building, LSE Organisers: Eva Micheler (SRC/LSE), David Gindis (University of Hertfordshire) Speakers: Vicky Barnes (Max Planck), Sandrine Blanc (INSEEC Grande Ecole), Rutger Claassen (Utrecht), Simon Deakin (Cambridge), Isabelle Ferreras (Louvain), Joshua Getzler (Oxford), David Gindis (Hertfordshire), Jonathan Hardman (Edinburgh), Stephan Leixenring (WU Vienna), Samuel Mansell (St Andrews), Ewan McGaughey (KCL), Eva Micheler (SRC/LSE), Christopher Napier (Royal Holloway), Eric Orts (Wharton), Sarah Paterson (LSE), Alexander Pepper (LSE), Alexander Styhre (Gothenburg), Carien van Mourik (OU) For some time the nexus of contract model of the firm and agency theory have operated as the dominant theoretical approach in law, economics and other social sciences. Following the 2008 financial crisis this approach has received substantial and sustained criticism. Despite this critique no alternative positive or normative theory of the firm has yet taken hold. The aim of this conference is to fill this gap and to articulate an institutional theory of the firm. This theory (a) emphasizes the real economic enterprise underlying the legal form supplied by law, (b) highlights that and how the enterprise is constituted by law, (c) examines the relative roles of governance mechanisms, organizational routines, codes of practice, social norms and shared beliefs, in a manner that aims to (d) shine a light on current and future reform proposals. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/events/institutional-theory-firm |
| Description | BBC News interview on systemic risk (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviews on BBC News Channel on 21/7/2015 on systemic risk and financial crisis. It parked questions and discussion afterwards and raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2015 |
| Description | BSB SEMINAR: Using ethnography to learn more about your firm's culture |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Long-term observational ethnographic methods are one way of gaining valuable insights into culture and behaviour (and the variations in culture and behaviour) within organisations. In July 2016 and in conjunction with Dr Daniel Beunza, Assistant Professor of Management at the London School of Economics, the BSB ran a seminar to introduce ethnography as a discipline and consider how it might be applied within banks and building societies. Firms' interest in exploring this further was such that we went on to organise a four-part workshop series for member firms, taught by Dr Beunza, in 2017. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.bankingstandardsboard.org.uk/events/bsb-seminar-using-ethnography-to-learn-more-about-you... |
| Description | Bank of England Open Forum 2015 (Zigrand) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Jean-Pierre Zigrand attended the Bank of England Open Forum on 11/11/2015. The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.bankofengland.co.uk/Pages/openforum/index.aspx |
| Description | Banking is still risky business as usual despite new rules (New Scientist) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson's research (in collaboration with Chen Zhou) was cited in the article in New Scientist on the topics of banking regulations and measures. It added debates to the topic and raised the reputation of the SRC and LSE. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Banks begin moving thousands of jobs out of Britain (CNN) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson, Director of Systemic Risk Centre, was quoted in this article in CNN Money. It raised the reputation of SRC and LSE. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://money.cnn.com/2017/01/18/news/economy/brexit-banks-financial-services/ |
| Description | Beunza - "Toward a Sociology of Climate Risk" panel |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Daniel Beunza was organiser and moderator of the "Toward a Sociology of Climate Risk" panel event at LSE's Grantham Institute, September 2021. Outline: Climate risk entails all risks for financial assets and the financial system posed by the physical impacts of climate change and the societal reactions to climate change. The understanding of said climate risk within finance has deepened and matured tremendously since the first trailblazing reports on the costs of climate change and the carbon bubble. This enhanced understanding is showing in increasingly sophisticated models and metrics used to assess and measure climate risk by a range of actors from private investors to credit rating agencies and central banks. This quantitative model-based approach to climate risk resembles in many ways established approaches to other financial risks. While the design, diffusion, and use of such more traditional risk assessment models within finance have been subject to sociological investigations producing valuable insights into the shortcomings and unintended consequences of said models, a similar effort regarding climate risk models is still lacking. This panel brings together empirical work on climate risk assessment and first sociological theorisations of climate risk modelling and assessment to make a first step toward a sociology of climate risk. Short presentations of original research will be followed by a panel discussion and an open Q&A session. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.lse.ac.uk/granthaminstitute/events/toward-a-sociology-of-climate-risk/ |
| Description | Beunza - 2017 PRI Academic Network |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Daniel Beunza gave the closing remarks of the 2017 PRI Academic Network on September 27th 2017 in Berlin. The engagement sparked questions and discussion afterwards. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Beunza - presentation in University of Bielefeld |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | Daniel Beunza presented a seminar on "Blended Automation" at the University of Bielefeld on December 11th 2017. The event generated questions and discussion afterwards. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Beunza UK Banking Standards Board |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Daniel Beunza was engaged by the UK Banking Standards Board to conduct a grounded theory study of the qualitative responses to their 2017 Annual Survey in autumn 2017. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Big Banks' Risk Does Not Compute (Bloomberg) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Jon Danielsson's authored paper "Why risk is so hard to Measure" was cited by Bloomberg. It increased the interests in the topics and raised the reputation of SRC. |
| Year(s) Of Engagement Activity | 2016 |
| URL | https://www.bloomberg.com/view/articles/2016-05-23/big-banks-risk-does-not-compute |
| Description | Bitcoin Decrypted: Cash, Code, Crime & Power |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed by the Naked Scientist and took part in the podcast "Bitcoin Decrypted: Cash, Code, Crime & Power" in April 2021. He spoke on the topic "Are cryptocurrencies really currencies?" It was aired on BBC Radio 5 Live and Radio National in Australia. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.thenakedscientists.com/podcasts/naked-scientists-podcast/bitcoin-decrypted-cash-code-cri... |
| Description | Blockchain and financial markets technology: Perspectives from Law, Finance and Computer Science |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | The conference analyses financial innovation with a particular focus on blockchain technology. Blockchain technology was first invented to facilitate Bitcoin. A blockchain is an electronic record. Similar to a land register it contains all transactions that are entered into between market participants. There is, however, no central authority or other intermediary. The blockchain is updated on the basis of a consensus of the majority of the participants in the system. Once entered the information cannot be erased. A blockchain thus creates a certain and verifiable digital record. The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/blockchain-and-financial-markets-technology-perspectives-law-fi... |
| Description | Blockchain could, should and will totally disrupt the way financial institutions do business |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Eva Micheler was part of a panel in the The Euromoney Blockchain Forum 2016: Oxford Style Debate "Blockchain could, should and will totally disrupt the way financial institutions do business" Angus Scott, Director Product Strategy & Innovation, Euroclear Richard Levin, Member of the Wall Street Blockchain Alliance Paul Baybutt, Senior Product Manager, Fund Services, HSBC Securities Services Eva Micheler, Associate Professor (Reader) in Law, London School of Economics Terry Roche, Principal, Head of Research FinTech, Tabb Group (Moderator) |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.euromoneyseminars.com/blockchain-debt-capital-markets/agenda.html |
| Description | Blockchain: the next financial Revolution? - Principles, Opportunities & Risks - Seminar-Workshop on 16 June 2016, Zürich |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Tomaso Aste and Paolo Tasca presented the following at the seminar workshop in Zurich: Module 1: General introduction and important concepts by Prof. Dr. Tomaso Aste - What is money? Why is Bitcoin money? - The disruptive character of Bitcoin - Bitcoin: a 10-minute primer - Live payment demo - Introduction to the crypto in crypto-currencies - Bitcoin: a truly decentralized architecture 11.15 - 12.15 Module 2: Mining: basic principles, consequences, and associated ecosystem by Prof. Dr. Tomaso Aste - Hash functions, mining difficulty - Mining tools - Is mining beneficial? Gold rush syndrome - Mining pools, mining farms, cloud mining 12.15 - 13.15 Module 3: Regulation of the Bitcoin Economy & Why Switzerland by Dr. Paolo Tasca & Dr. Alexander Lindemann - The Origin of Central Banks and Legal Tender - Regulation & Governance of the Bitcoin economy (USA vs EU) - Regulation of Business Entities - Risks to Regulatory Authorities - Exceptionalist vs. Unexceptionalists - Why Switzerland: Regulation in Switzerland By Finma - Swiss & International Tax Aspects - Case Studies 14.15 - 15.15 Module 4: Economic Foundations by Dr. Paolo Tasca - Bitcoin as Currency (some descriptive statistics) - Bitcoin as Payment Network (some descriptive statistics) - Case Studies 15.15 - 16.15 Module 5: Economic Trends & Potential Business Opportunities by Dr. Paolo Tasca - Groups of Interest (Users , Merchants , Developers, Investors, Miners , Banks) - Case Studies - Future Trends 16.15 - 19.15 Individual 1to1 sessions with Dr. Paolo Tasca & Prof. Tomaso Aste In the 1to1 sessions, to the participants of the workshop is offered the possibility to directly interact in bilateral closed-doors meetings with Dr. Paolo Tasca and Prof. Tomaso Aste. The scholars will provide direct support and will propose solutions to participants with specific questions related to design, implementation and test of different blockchain-based platforms. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://lindemannlaw.ch/img/uploadAdminDok/33ebd_blockchain_14seminar_14workshop.pdf |
| Description | Book launch: The Illusion of Control |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Date: 15th November 2022 Time: 6:45-8:00pm GMT Venue: MAR.1.08, 1st floor, Marshall Building, LSE (map) Speaker: Jón Daníelsson (SRC/LSE) Chair: Charles Goodhart (FMG/LSE) Jón Daníelsson's new book challenges the conventional wisdom surrounding financial risk, providing insight into why easy solutions to control the financial system are doomed to fail. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/events/book-launch-illusion-control |
| Description | Breakfast Briefing: The Future of Europe, the Euro and the Role of Monetary Policy |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Breakfast Briefing: The Future of Europe, the Euro and the Role of Monetary Policy Small group discussion with key stakeholders |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/breakfast-briefing-future-europe-euro-and-role-monetary-policy |
| Description | Brexit and systemic risk - Jon Danielsson, Robert Macrae, Eva Micheler |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Brexit is likely to cause considerable disruption for financial markets. Some worry that it may also increase systemic risk. This column revisits the debate and argues that an increase in systemic risk is unlikely. While legal 'plumbing' and institutional and regulatory equivalence are of concern, systemic risk is more likely to fall due to increased financial fragmentation and caution by market participants in the face of uncertainty. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://voxeu.org/article/brexit-and-systemic-risk |
| Description | CCS'17: CONFERENCE ON COMPLEX SYSTEMS 2017 - Giacomo Livan |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Giacomo Livan presented "How networks shape fake narratives" at the CCS'17: CONFERENCE ON COMPLEX SYSTEMS 2017 in Mexico. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://easychair.org/smart-program/CCS'17/2017-09-18.html |
| Description | CIted in Financial Times on Iceland's crisis (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was cited in Financial Times on the topic of Iceland's crisis policies. It sparked questions and discussions and raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.ft.com/cms/s/3/56e506e0-1347-11e5-ad26-00144feabdc0.html |
| Description | CNBC Panama Papers leak may hit Iceland's economic policy |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed and quoted by CNBC on Panama Papers leak. It presented the interviewee's views and raised the profile of Systemic Risk Centre. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.cnbc.com/2016/04/12/panama-papers-leak-may-hit-icelands-economic-policy.html |
| Description | COMPLEXIS - the International Conference on Complexity, Future Information Systems and Risk |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Tomaso Aste and Guido Germano were members of the Programme Committee of COMPLEXIS - the International Conference on Complexity, Future Information Systems and Risk, Porto, Portugal. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.complexis.org/Home.aspx?y=2017 |
| Description | Capital Flows, Systemic Risk, and Policy Responses |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Organised by the Central Bank of Iceland, the Systemic Risk Centre and the International Monetary Fund, the purpose of the two-day event is to promote the exchange of ideas and knowledge between academics and policy makers on systemic risk and macroprudential regulation in economies that are not among the core global rate setters. Keynote speakers are Maurice Obstfeld (International Monetary Fund) and Stijn Claessens (Board of Governors of the Federal Reserve System). The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/capital-flows-systemic-risk-and-policy-responses |
| Description | Capital Markets Union and Beyond - paper discussion by Jo Braithwaite |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Discussant: Capital Markets Union and Beyond (9 October 2016). Jo Braithwaite delivered a detailed response to a paper by economists from Imperial College London about the regulation of consumer investment markets. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Capital controls are still ruining Iceland after half a decade |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Article in City AM City A.M. |
| Year(s) Of Engagement Activity | 2013 |
| URL | http://www.cityam.com/article/capital-controls-are-still-ruining-iceland-after-half-decade |
| Description | Capital controls in Iceland (Frettabladid) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed by an Icelandic newspaper "Frettabladid" on proposals on capital controls in Iceland. It added a debate to the topic and raised the reputation of SRC. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.visir.is/ExternalData/pdf/fbl/160608.pdf |
| Description | Central Bank Digital Currencies: Threat or Opportunity? |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Date: 28th October 2022 Time: 09:00 - 14:30 BST Venue: Conference room, 1.06, Marshall Building, LSE (map) Organisers: Brunello Rosa (Rosa & Roubini Associates, Bocconi University, SRC/LSE), Jean-Pierre Zigrand (SRC/FMG, LSE) Speakers: Piero Cipollone (Banca d'Italia), Tony Craddock (The Payments Association), Kunal Jhanji (Boston Consulting Group), Igor Makarov (LSE Finance), Cyril Monnet (University of Bern/Study Centre Gerzensee), Brunello Rosa (Rosa & Roubini Associates, Bocconi University, SRC/LSE), Hyun Song Shin (Bank for International Settlements), Paul Sisnett (Satellite Moving Devices Group) Central Bank Digital Currencies (CBDCs) have been at the centre of Central Banks' attention since the emergence of a wide array of digital assets, and chiefly crypto-assets and stablecoins. These new digital assets can present features such as "programmability." Central Banks justify the introduction of CBDCs as a mechanism to provide a safe asset in the digital wallets of the wider population when cash will have disappeared. But some fear a severe impact on people's privacy. Other concerns regard the potential impact of the introduction of CBDCs on the implementation of monetary policy and financial stability. Also, financial institutions fear further dis-intermediation of their activities. Underlying this, there are geopolitical motivations that will be explored during the conference. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/events/central-bank-digital-currencies-threat-or-opportunity |
| Description | Central Bank of Chile seminar - Jon Danielsson |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Jon Danielsson talked at the Central Bank of Chile in March 2017 |
| Year(s) Of Engagement Activity | 2017 |
| Description | Centrální banky šijí pravidla na míru velkým financním domum, ríká islandský ekonom (Hospodárské noviny) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed and cited in a news article in a Czech outlet Hospodárské noviny. The topic discussed was on central bank regulations. It increased interest in the topics and raised the reputation of SRC and LSE. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://byznys.ihned.cz/c1-65494090-centralni-banky-siji-pravidla-na-miru-velkym-financnim-domum-rika... |
| Description | Charles Goodhart & Manoj Pradhan: Aging China Will bring the World into Another Globalization |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | 'Aging China will bring the World into Another Globalization', PKU Financial Review interview with Charles Goodhart and Manoj Pradhan, 1 March, 2022, following the publication of their book The Great Demographic Reversal. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://english.phbs.pku.edu.cn/2022/news_0301/3049.html |
| Description | Charles Goodhart 'Is inflation here to stay?', World Finance |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | 'Is inflation here to stay?', Interview with Charles Goodhart, World Finance, Winter, 2022-23, pp 114-116. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.worldfinance.com/strategy/is-inflation-here-to-stay |
| Description | Charles Goodhart - , 'Here is the professor who believes that we have only seen the beginning of the inflation crisis', Kenneth Praefke, Børsen |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Charles Goodhart was interviewed by Kenneth Praefke, Børsen (Danish financial newspaper). The interview piece appeared as 'Here is the professor who believes that we have only seen the beginning of the inflation crisis' in Børsen (Danish financial newspaper) on 12th October 2022. |
| Year(s) Of Engagement Activity | 2022 |
| Description | Charles Goodhart - Cost of living interview on Sky News |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Charles Goodhart was interviewed on Sky News on 3rd November 2022 on the cost of living crisis. Goodhart criticised the prime minister Rishi Sunak's plan' to give public sector workers a 2% rise in 2023-24. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://news.sky.com/story/cost-of-living-latest-most-expensive-cheapest-supermarkets-waitrose-morri... |
| Description | Charles Goodhart in "K": Inflation with us until 2050' |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Charles Goodhart was interviewed by press in Greece - 'Charles Goodhart in "K": Inflation with us until 2050', Vassilis Kostoulas, in 'Interview', Kathimerini newspaper, Greece, 29 July 2022. |
| Year(s) Of Engagement Activity | 2022 |
| Description | Charles Goodhart on inflation targets, financial stability and the role of money |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Charles Goodhart was interviewed by Christopher Jeffery, Central Banking. June 2021 on inflation targets, financial stability and the role of money. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.centralbanking.com/central-banks/financial-stability/7843681/charles-goodhart-on-inflati... |
| Description | Chwieroth - International Affairs Podcast: Banking crises and politics |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jeff Chwieroth participated in the International Affairs Podcast on Banking Crises and Politics organised by the Chatham House. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://www.chathamhouse.org/file/international-affairs-podcast-banking-crises-and-politics |
| Description | Cited in Financial Times 'Economy takes important step after emerging from wreckage of the financial crash' (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | It raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://on.ft.com/1F47D9q |
| Description | Cited in German media Die Welt on asset management (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson's opinion on severe regulation for large asset management companies was quoted in the article. It sparked questions and discussion afterwards and raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.welt.de/print/die_welt/finanzen/article147622065/Wie-gefaehrlich-ist-der-Vermoegensverwal... |
| Description | Cited in IPE (Amlan Roy) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Amlan Roy got cited in IPE (Investment and Pensions Europe), in an article entitled "A macro demographic analysis of pensions investing" The article sparked questions and discussion and raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://www.ipe.com/pensions/pensions/briefing/a-macro-demographic-analysis-of-pensions-investing/10... |
| Description | Cited in IPE on investment models (Amlan Roy) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Amlan Roy was quoted in IPE (Investment and Pensions Europe) following his keynote speech in the IPE European Pension Awards 2016. The article sparked questions and discussion and raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2016 |
| URL | https://www.ipe.com/news/returns/ipe-conference-reject-outdated-investment-models-amlan-roy/10016501... |
| Description | Cited in New York Times - Iceland's crisis (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was quoted in New York Times on the topic Iceland's crisis on 5th July 2015. The article sparked questions and discussion and raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.nytimes.com/2015/07/05/business/international/how-iceland-emerged-from-its-deep-freeze.ht... |
| Description | Cited in New York Times on capital controls (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was cited in New York Times on the topic of Icelandic capital controls. It sparked questions and discussions and raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.nytimes.com/2015/06/09/business/dealbook/iceland-to-lift-capital-controls-imposed-after-f... |
| Description | Closer ties between banks could mean more risk-taking |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The Fourth Economic Networks and Finance Conference organised by the Systemic Risk Centre was reported in this article on Risk.net. It increased further interest in the topics discussed in the conference among a wider audience and raised the reputation of SRC and LSE. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.risk.net/risk-management/2479426/closer-ties-between-banks-could-mean-more-risk-taking |
| Description | Comment & Analysis, Will Brexit break the banks? - Michael Imeson (Wolters Kluwer Financial Services) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Jon Danielsson, Director of Systemic Risk Centre, was interviewed and quoted in this commentary about the negative impact on banks of leaving the EU. It increased interest in the topic and raised the reputation of SRC and LSE. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Computer-based Trading |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Future of computer-based trading. Paper presented by JP Zigrand at The Future of Finance: Structure, Innovation & Ethics conference in Financial Services Knowledge Transfer Network (FSKTN), Oxford |
| Year(s) Of Engagement Activity | 2013 |
| Description | Computer-based trading and systemic risks |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Invited talk on computer-based trading and systemic risks Zigrand was invited to Washington to present his research on computer-based trading and the systemic risks within that to the Senate Banking Committee, to the House Committee on Financial Services, to the CFTC (including commissioner O'Malia) as well as to Senator Coons (the successor to Senator Ted Kauffman). Zigrand was invited to Washington to present his research on computer-based trading and the systemic risks within that to the Senate Banking Committee, to the House Committee on Financial Services, to the CFTC (including commissioner O'Malia) as well as t |
| Year(s) Of Engagement Activity | 2013 |
| Description | Conference - 1st London Political Finance (POLFIN) Workshop |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | City Business School and the Systemic Risk Centre at the London School of Economics and Political Science (LSE) jointly organized a workshop on the theme of political finance. The workshop provided a platform for researchers and policymakers to discuss new research and to identify areas where further academic and policy-oriented work is needed. The workshop featured a keynote speech by Professor Sir Timothy Besley (LSE). |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/events/1st-london-political-finance-polfin-workshop |
| Description | Conference - Financial Resilience and Systemic Risk - Conference |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | A conference on Financial Resilience and Systemic Risk was co-organised by SRC and Institute of Global Affairs in January 2019. Speakers: David Aikman (Bank of England), Franklin Allen (Imperial College), Charlie Bean (LSE), Marek Belka (IGA, LSE), Erik Berglöf (IGA, LSE), Mario Blejer (IRSA, IGA, LSE), Patrick Bolton (Columbia Business School), Ralph de Haas (EBRD), Dimitri Demekas (Bank of England, IGA, LSE), Ben Dyson (Bank of England), Már Guðmundsson (Central Bank of Iceland), Kilian Huber (University of Chicago), Kevin James (FCA, SRC, LSE), Ousmène Mandeng (Accenture, IGA, LSE), Reza Moghadam (Morgan Stanley), Piroska Nagy-Mohácsi (LSE), Ricardo Reis (LSE), Hélène Rey (London Business School), Christina Segal-Knowles (Bank of England, IGA, LSE), Judy Shelton (EBRD), Vania Stavrakeva (London Business School), Elöd Takáts (BIS), Dimitri Vayanos (FMG, LSE), Andres Velasco (LSE), Édouard Vidon (Bank of France), Ernst-Ludwig von Thadden (Mannheim University), Paul Wachtel (NYU Stern Business School). Many interesting papers were presented. The conference sparked discussions and thoughts on relevant topics. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/financial-resilience-and-systemic-risk-conference |
| Description | Conference - Financial crises: predictability, causes and consequences |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | An all-day conference was organised by SRC on Financial crises: predictability, causes and consequences. Speakers: Matthew Baron (Cornell University), Daisuke Ikeda (Bank of England), Michael Kiley (Federal Reserve Board), Björn Richter (University of Bonn), Miguel Segoviano (International Monetary Fund), Christoph Trebesch (Kiel University) Organisers: Jon Danielsson (SRC, LSE), Marcela Valenzuela (University of Chile), Ilknur Zer (Federal Reserve Board) The conference sparked thoughts and discussions on relevant topics. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/events/financial-crises-predictability-causes-and-consequences |
| Description | Conference - Sustainability and Systemic Risk |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | The conference explored environmental risk as a source of systemic risk. It brought together speakers from Finance, Law and Regulation. The aim of the conference was to analyse how environmental risk affects systemic risk and to evaluate initiatives that governments have taken to incorporate sustainability goals into the financial system. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/events/sustainability-and-systemic-risk |
| Description | Conference - The financial markets' response to Covid-19 policy interventions |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Speakers: Andrew Greenland (Elon University), Daniel Greenwald (MIT), Gordon Liao (FRB), Andreas Uthemann (Bank of Canada & SRC/LSE) Organisers: Mattia Bevilacqua (SRC/LSE), Lukas Brandl-Cheng (SRC/LSE), Lerby Ergun (Bank of Canada & SRC/LSE), Andreas Uthemann (Bank of Canada & SRC/LSE) Covid-19 prompted unprecedented economic and financial market government interventions. Because it was unprecedented, policy initiatives were by and large untested and could not be evaluated in light of previous events. Due to the heterogeneity of the policy responses, with different jurisdictions reacting in very different ways and the impact reaching a significant level, researchers have been able to shed light on how the financial markets, in particular, reacted to the policy initiatives: what worked, what didn't work and what should have been done. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/events/financial-markets-response-covid-19-government-policy-initiati... |
| Description | Conference - The future of money and the impact of fintech and cryptocurrencies |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | A conference on The future of money and the impact of fintech and cryptocurrencies was organised by SRC in November 2018. Speakers: Jason Allen (Humboldt University of Berlin Centre for British Studies, University of New South Wales Centre for Law Markets and Regulation), Jon Danielsson (SRC, LSE Finance), Rosa Lastra (Centre for Commercial Law Studies, Queen Mary University of London), Igor Makarov (FMG, LSE Finance), Eva Micheler (SRC, LSE Law), John Moore (The University of Edinburgh, LSE), Co-Pierre Georg (University of Cape Town, Economic Research Southern Africa and Deutsche Bundesbank), Catherine Schenk (University of Oxford, Faculty of History, St Hilda's College), Edmund Schuster (LSE Law) Organisers: Jon Danielsson (SRC, LSE Finance), Eva Micheler (SRC, LSE Law) The conference was well attended and many interesting papers were presented. It sparked discussions and thoughts on relevant topics. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/events/future-money-and-impact-fintech-and-cryptocurrencies-conference |
| Description | Conference Frontiers of financial research and future financial and economic challenges |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/frontiers-financial-research-and-future-financial-and-economic-... |
| Description | Conference Stress Testing and Macro-prudential Regulation: A Trans-Atlantic Assessment |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/stress-testing-and-macro-prudential-regulation-trans-atlantic-a... |
| Description | Conference Understanding Financial Market Effectiveness: New Approaches |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The conference sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/understanding-financial-market-effectiveness-new-approaches |
| Description | Conference presentation "Making Culture Work on Wall Street" (Beunza) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Conference presentation "Making Culture Work on Wall Street" at AFI Madrid, Decembe 14th, 2015. The presentation sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Conference presentation Why Talk? A process model of dialogue in shareholder engagement (Beunza) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Conference presentation "Why Talk? A process model of dialogue in shareholder engagement" at the PRI In Person Conference, September 7th 2015. The presentation parked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Conference presentation: Embedded Performativity: Valuation Technology and Social Change in the Responsible Investment Field (Beunza) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Presentation by Daniel Beunza on "Embedded Performativity: Valuation Technology and Social Change in the Responsible Investment Field" at HEC Lausanne, June 3rd 2015. The presentation sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Conference: Research Frontiers in Law, Finance and Governance |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/research-frontiers-law-finance-and-governance |
| Description | Contractual estoppel: firm-wide lecture by Jo Braithwaite at an international law firm |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Jo Braithwaite delivered a firm-wide lecture at an international law firm on contractual estoppel, in December 2016. The audience for this lecture was comprised of lawyers from the litigation and transactional departments and professional support lawyers, and the lecture was delivered via webcam to viewers in the firm's overseas offices. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Counterparty risk and systemic fragility in a stylized banking system |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by T Aste at the International Conference Eco**2 exploring the fundamental links between ecology and economics, 8-10 September 2014 LSE. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Credit, Commodities and Currencies - Public Lecture |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/credit-commodities-and-currencies-public-lecture |
| Description | Crowded Trades: An Overlooked Systemic Risk for Central Clearing Counterparties - seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Abstract: Counterparty default risk might hamper trade and trigger a financial crisis. The introduction of a central clearing counterparty (CCP) benefits trading but pushes systemic risk into CCP default. Standard risk management strategies at CCPs currently overlook a risk associated with crowded trades. This paper identifies it, measures it, and proposes a margin methodology that accounts for it. The application to actual CCP data illustrates that this hidden risk can become large, in particular at times of high CCP risk. The event generated questions and discussion. The event generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/seminars/albert-j-menkveld |
| Description | Daniel Beunza - Taking the Floor, featured in "Finance" on BBC Radio 4 program "Thinking Allowed" |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Daniel Beunza's book "Taking the Floor" was featured in "Finance" on BBC Radio 4 program "Thinking Allowed" in July 2020. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.bbc.co.uk/programmes/m000kfr0 |
| Description | Daniel Beunza - The Culture Cast: 'Challenging Normality' |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Daneil Beunza was invited to participate in this podcast The Culture Cast: 'Challenging Normality'. The podcast was based on his book "Taking the Floor: Models, Morals, and Management in a Wall Street Trading Room" and the book launch that SRC hosted. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.thisishcd.com/episode/dr-daniel-beunza-challenging-normality |
| Description | Danielsson - Faculti interview - Dealing with systemic risk when we measure it badly |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed on Faculti on Dealing with systemic risk when we measure it badly in February 2019. The video interview sparked discussions and thoughts on relevant topics. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://faculti.net/dealing-systemic-risk-measure-badly/ |
| Description | Danielsson - interview on macroprudential policies (Iceland) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed in June 2018 by the Icelandic paper Vidskiptabladid. He opined that macroprudential policies are inherently political and can undermine the central bank's monetary policy. |
| Year(s) Of Engagement Activity | 2018 |
| Description | Danielsson blog - Cryptocurrencies |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Jon Danielsson blog post Cryptocurrencies on VOXEU |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/publications/opinion-pieces/cryptocurrencies |
| Description | Danielsson blog - Cryptocurrencies are lousy investments |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Jon Danielsson blog post Cryptocurrencies are lousy investments on VOXEU |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/publications/opinion-pieces/cryptocurrencies-are-lousy-investments |
| Description | Danielsson blog - Cryptocurrencies: Financial stability and fairness |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Jon Danielsson blog post Cryptocurrencies: Financial stability and fairness on VOXEU |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/publications/opinion-pieces/cryptocurrencies-financial-stability-and-f... |
| Description | Danielsson blog - Low risk as a predictor of financial crises |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Jon Danielsson blog post Low risk as a predictor of financial crises on VOXEU |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/publications/opinion-pieces/low-risk-predictor-financial-crises |
| Description | Danielsson blog - The hierarchy of financial policies |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Jon Danielsson blog post The hierarchy of financial policies on VOXEU |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/publications/opinion-pieces/hierarchy-financial-policies |
| Description | Danielsson blog - Which numerical computing language is best: Julia, MATLAB, Python or R? |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson and Jia Rong Fan blog post Which numerical computing language is best: Julia, MATLAB, Python or R? on VOXEU |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/publications/opinion-pieces/which-numerical-computing-language-best-ju... |
| Description | Data Science for the Digital Economy: Digital currencies and P2P economics Alan Turing Institute Scientific Scoping Workshop (Zigrand) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Jean-Pierre Zigrand participated in the Data Science for the Digital Economy: Digital currencies and P2P economics Alan Turing Institute Scientific Scoping Workshop on 10 Dec 2015. The workshop sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Data, crises and structural breaks |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Talk by J Danielsson at Royal Institution, London, UK. The talk focused on the problems inherent in relying on historical financial data for risk and price forecasting. This implies that existing models have the annoying tendency to fail when needed the most, and Jon will discuss the inherent fragility of financial models, and the problem of ignored fundamental assumptions. The talk focused on the problems inherent in relying on historical financial data for risk and price forecasting. This implies that existing models have the annoying tendency to fail when needed the most, and Jon will discuss the inherent fragility of financial models, and the problem of ignored fundamental assumptions. |
| Year(s) Of Engagement Activity | 2012 |
| Description | Dialogue on creating an EU Capital Markets Union |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/dialogue-creating-eu-capital-markets-union |
| Description | Disaster and Fortune Risk in Asset Returns by Lerby Ergun - Bank of Canada |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Presentation of Disaster and Fortune Risk in Asset Returns by Lerby Ergun at the Bank of Canada |
| Year(s) Of Engagement Activity | 2016 |
| Description | Disaster and Fortune Risk in Asset Returns by Lerby Ergun - NOVA University |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Presentation of Disaster and Fortune Risk in Asset Returns by Lerby Ergun at NOVA University in Lisbon. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Distress and systemic risk in financial networks |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Type Of Presentation | keynote/invited speaker |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | A seminar by Stefano Battiston on "Distress and systemic risk in financial networks". When financial institutions are connected via balance sheet interlock and overlapping portfolios in a network of contracts, the default probability of one institution depends on the default probability of all the other institutions. There are various questions and issues associated with the determination of the the systemic importance of a bank as well as with the determination of the most resilient architecture. The talk will present the insights of some recent works on this topic and their implications. Interaction with relevant academic audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/stefano-battiston-distress-and-systemic-risk-financial-networks |
| Description | Diversification and Financial Stability |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk by P Tasca at World Finance Conference July, 2-4, 2014. The talk generated question and discussion. The talk generated question and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Does Risk Forecasting Help Macroprudential Policy Makers |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Presentation by J Danielsson at Czech National Bank - Ceská národní banka Interaction with stakeholders |
| Year(s) Of Engagement Activity | 2013 |
| Description | Does Risk Forecasting Help Macroprudential Policy Makers |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Presentation at Bank of England |
| Year(s) Of Engagement Activity | 2013 |
| Description | Does Risk Forecasting Help Macroprudential Policy Makers? |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Paper presented at Marie Curie ITN Conference on Financial Risk Management & Risk Reporting in University of Konstanz Paper presented at Marie Curie ITN Conference on Financial Risk Management & Risk Reporting |
| Year(s) Of Engagement Activity | 2013 |
| URL | https://fp7.portals.mbs.ac.uk/Portals/59/docs/Programme%20Final%2004042013.pdf |
| Description | EEA-ESEM Lisbon 2017 - Andreas Uthemann |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Andreas Uthemann presented "Identifying Information Flows in Over-the-Counter Markets: Evidence from a Consensus Pricing Service" at the EEA-ESEM conference in Lisbon |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://editorialexpress.com/conference/EEAESEM2017/program/EEAESEM2017 |
| Description | ESBies breakfast meeting |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | The Systemic Risk Centre organised a breakfast on ESBies, European Safe Bonds. The idea has grown out of academia, and LSE in particular, and is the subject of work streams at the ECB and ESRB also. The breakfast meeting brought together the inventors of the product with a select number (less than 25) of senior investment bankers, mainly from the structuring, origination and trading sides. The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| Description | ETH48 Workshop on Cascade Processes - Fabio Caccioli |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Fabio Caccioli presented "Stability Analysis of Financial Contagion due to Overlapping Portfolios" at the ETH48 Workshop on Cascade Processes. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.riskcenter.ethz.ch/events/eth48-workshop-on-cascades.html |
| Description | Eco**2 exploring the fundamental links between ecology and economics |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The two sciences of interactions - economics and ecology - don't interact enough. How many useful ideas must there be in ecology that have yet to be applied in economics, and vice versa? How much more could we discover about the human and social systems, or natural systems, by combining insights from these two subjects? It is crucial that these two fields work together to address the most pressing global challenges facing humanity. If the above intrigues then come along to our symposium Eco**2: exploring the fundamental links between ecology and economics, which we'll be running in collaboration with the British Ecological Society (BES) in London this September. It's your chance to help create the new science that emerges when ecology and economics collide. Everything about the symposium is designed to foster as much interaction as possible between these two fascinating sciences and attendees will be an equal mix of ecologists and economists. Attendees will also be given the opportunity to submit questions and ideas for discussion at the symposium, and these can be conceptual, technical, or applied in nature, so long as they will spark a fruitful discussion between economists and ecologists. A specific aim of Eco**2 is to examine the fundamental, conceptual links between these two sciences. These links are much deeper than most ecologists or economists appreciate, and they must be explored if we are to apply these two sciences properly to address pressing global issues. Very fruitful exchange of academic ideas especially between two disciplines - economics and ecology - which do not normally come together. Further ideas of collaboration were generated. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/eco2-exploring-fundamental-links-between-ecology-and-economics |
| Description | Economic Networks and Banking Conference |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The conference brings together academicians working in the area of banking and network analysis, to stimulate the academic discourse on the generation of aggregate risk through network interactions. Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2013 |
| URL | http://www.systemicrisk.ac.uk/events/economic-networks-and-banking-conference |
| Description | Economic Networks and Finance - Conference |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | This event brought together academics, policy-makers and practitioners working in the area of banking and network analysis, to stimulate the academic discourse on the generation of aggregate risk through network interactions. Speakers: Daniele Condorelli (Essex), Matthew Elliott (Caltech), Maryam Farboodi (Chicago Booth), Mila Getmansky (UMass Amherst), Jose-Luis Peydro (Universitat Pompeu Fabra, Barcelona), Martin Schmalz (University of Michigan), and Norman Schuerhoff (Ecole des HEC, Université de Lausanne). Stimulated discussions and increased potential collaborations with peers |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/economic-networks-and-finance-conference |
| Description | Economic crisis: have we learned the right lessons? A Debate |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | JP Zigrand participated in a debate on economic crisis at Oxford Union Debate hosted in Luxembourg. The debate generated questions and discussion. The debate generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://club.paperjam.lu/event/economic-crisis-have-we-learned-right-lessons |
| Description | Economics of risk |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A series of lectures on economics of risk to with regulators, practitioners and students in the audience by J Danielsson in Duisenberg School of Finance, Amsterdam |
| Year(s) Of Engagement Activity | 2010,2013 |
| Description | Endogenous Contractual Externalities |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A BES Finance seminar by K Yuan at INSEAD on 7th November 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.insead.edu/facultyresearch/areas/finance/activities/seminars.cfm |
| Description | Endogenous Contractual Externalities |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A seminar by K Yuan at Economics and Finance Seminar in University of Hong Kong in April 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://hkuems1.hku.hk/hkuems/ec_hdetail.aspx?guest=Y&UEID=29838 |
| Description | Endogenous Contractual Externalities |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A seminar by K Yuan at HKUST Business School in April 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.bm.ust.hk/web/zh-hk/pages/event-calendar?date=2014-03-31 |
| Description | Endogenous Contractual Externalities |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A seminar by K Yuan at the Frankfurt School of Finance and Management in April 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.frankfurt-school.de/content/de/research/seminars-workshops/finance/previous.html |
| Description | Engineering Financial Instability |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Conference organised with DSTL on 2nd December 2019. Organisers: Mattia Bevilacqua (SRC), Kevin James (SRC, FCA), Alex Stevens (The Defence Science and Technology Laboratory) Speakers: Prof Sir Paul Collier (University of Oxford), Dominic Connor (Independent consultant), Jon Danielsson (Systemic Risk Centre & LSE Finance), Tom Keatinge (Royal United Services Institute), Nic Ryder (University of the West of England, Bristol), Rob Solly (Defence Science and Technology Laboratory), Nikola Tchouparov (Moneyfold Ltd) In a rapidly changing world which is increasingly interdependent and relies on rapidly evolving financial systems to underpin its economy, it is important to understand what threats or opportunities might exist for the UK and her allies across the globe. By considering the changing economic landscape, the UK can look to prepare against 'future shock'; considering what threats it should be aware of, alongside what opportunities could be exploited to improve both the security and stability of the UK and her allies. The conference jointly hosted by Defence Science and Technology Laboratory (Dstl), Financial Conduct Authority (FCA) and Systemic Risk Centre (SRC) sought to understand how modern financial systems could be used: (1) to prevent a country from being able to deliver defence and security for its citizens, either at home or abroad, (2) by other states or non-state actors to create or augment instability around the world or (3) to facilitate the funding of illicit activity. The event was open to people in all stages of their careers and from a wide variety of backgrounds including (but not limited to): politics, economics, history, international relations, defence, finance, philosophy, anthropology, ethics, technology, systems thinking. The conference was split into four interlinking themes: Exploiting Financial Friendship. In this theme we looked at how a state might seek to influence other nations to promote its political ends beyond its own boundaries. This might be achieved through providing finance or aid to that state or its population on favourable terms. This might be a state seeking to influence another state or a state seeking to influence individuals within another target state and could potentially be either direct or more subliminal in nature. Modern Siege. Historically part of warfare has been the ability to deny the enemy access to key supplies, food and water supplies to castles or cities from medieval times through to Leningrad in 1941, and sanctions have and are used as a way of undermining a government's ability to trade and therefore fund its necessary domestic activities. Covert Finance. In this theme we asked how states and non-state actors might finance their activities around the world and/or raise money to pursue their aims whilst hiding their identity and true purpose. Destabilisation of Financial Systems. Whilst major financial hubs might be thought of as immune to deliberate catastrophic destabilisation, could a smaller incident be created to augment a planned, parallel, more traditional attack in order to distract attention or hamper a response? To what extent could individuals or small groups create such a crisis? In smaller countries could such an attack be used to create political unrest which might result in the destabilisation of a government or create the opportunity for an aggressor state to take action? The conference sparked questions and interactions and was unique in linking up the finance and defense disciplines. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/engineering-financial-instability |
| Description | Enrico Perotti (University of Amsterdam) seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | Seminar on 25th November 2019. Seminar Title: Financial Intermediaries and Bankruptcy Law Abstract: We study how the trade-off between liquidity provision and value preservation shapes redemption rules for financial intermediaries. In the literature, a bank prioritizes liquidity provision in a run by selling all assets. In reality, default followed by a mandatory stay on payments is triggered once a bank runs out of liquidity, removing withdrawal queue priority and reducing run incentives. Orderly resolution avoids fire sales, but reduces liquidity provision so strict sequential service dominates when assets are highly liquid (e.g., Treasury MMFs). We show that run frequency under sequential service may be nonmonotonic in asset liquidity. For high enough asset liquidity and sufficiently small liquidity benefits, a payment stay with immediate asset sale and payout is best, rationalizing new rules on gates on Prime MMFs. Our results explain the asset allocation and investor sorting across commercial, narrow, and shadow banks. The seminar sparked questions and discussions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/seminars/enrico-perotti-0 |
| Description | Equity Finance: Matching Liability to Power |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by Charles Goodhart on 21st May 2019. Charles Goodhart discussed a proposal that he is developing with Rosa Lastra (Queen Mary University School of Law) that aims to fix a fundamental problem with limited liability corporations, viz.: CEOs remunerated in ways that depend upon the level of equity prices (such as bonuses) have an incentive to take excessive risk, and shareholders have little incentive to stop them. Consequently, firms do take excessive risks, and they shift the losses that occur when those risks do not work out onto other stakeholders. Goodhart and Lastra's idea to fix this problem is to create a class of "inside" shareholders who are subject to multiple liability (that is, they are on the hook for a multiple of the initial book value of their shares in the event that the company fails). These inside shareholders will be shareholders capable of monitoring and controlling management, and the multiple liability to which they are subject will give them strong incentives to do so. Drawing upon 18th and 19th century practice and the renewed legal and economic interest in this topic following the Global Financial Crisis of 2008, they discuss how to implement this idea while still preserving the benefits that limited liability creates. The talk sparked questions and interactions among the audience. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/equity-finance-matching-liability-power |
| Description | Ethics Matters in Financial Theory |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | JP Zigrand participated in a Forum for European Philosophy dialogue with Christian Walter hosted by the LSE. The public event generated questions and discussion. The public event generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.lse.ac.uk/publicEvents/events/2014/05/20140513t1830vWT.aspx |
| Description | Evidence before US Senate |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Evidence before US Senate |
| Year(s) Of Engagement Activity | 2012 |
| Description | Exchange of Ideas - Exclusive Session: Impulses for a European Capital Markets Union |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | The panel sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Exchange rates and monetary policy frameworks in EMEs: Where do we stand? |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Talk given by Agustín Carstens (General Manager of the Bank for International Settlements) on 2nd May 2019. A decade after the crisis, central banks are seeking to bring monetary policy back to more normal settings but often lack a compass to navigate the new post-crisis terrain. Emerging market economies (EMEs) face the added challenge of volatile exchange rates and capricious capital flows. The increasing role of financial factors in the transmission of exchange rate fluctuations creates difficult trade-offs for EME central banks. What is the nature of these trade-offs and how should policymakers calibrate and sequence the use of multiple policy instruments? The talk sparked active interactions and questions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/exchange-rates-and-monetary-policy-frameworks-emes-where-do-we-... |
| Description | Expert Round-Table Assessing the experience with supervisory stress testing since the Crisis |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Fast Markets Events, Bank of England - Jean-Pierre Zigrand |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | Jean-Pierre Zigrand participated in the Fast Markets Events, Bank of England, in April 2017. Events under Chatham House Rule. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Federal Reserve Board seminar in Washington D.C., US |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | A talk by Alper Odabasioglu at a seminar organised by the Federal Reserve Board in Washington D.C., US. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Filtering Complex Information with Networks |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Presentation by Tomaso Aste at the Challenges in Data Science: a complex systems perspective International Conference |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://annacarbone.wixsite.com/eu-meet-japan-2015/friday-16th-october |
| Description | Financial Crises and Politics: A Long Run Perspective |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | A presentation by Jeffrey Chwieroth and Andrew Walter (University of Melbourne). Paper presented at the annual meeting of the International Studies Association, Baltimore, MD, 22 - 25 February 2017. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Financial Intermediation Research Society 12th Annual Conference |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Christoph Aymanns presented "Illiquidity Spirals In Over-The-Counter Repo Markets" in the session on Bank Liquidity Provision and interacted with relevant audience. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://firsocietyblog.files.wordpress.com/2017/08/firs2017.pdf |
| Description | Financial Market Infrastructure Conference (Braithwaite) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Jo Braithwaite has been developing links with the Financial Market Infrastructure Directorate at Bank of England on ongoing research. This conference held in Amsterdam in June 2017 was one of the major outputs. The conference brought together policymakers and practitioners to discuss topics of mutual interest. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://www.dnb.nl/en/binaries/FMIC2_Programme%207-8%20June%202017_tcm47-358054.pdf?2017101613 |
| Description | Financial Regulation: Back to the Future? Public Lecture by Timothy G. Massad |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The global financial crisis caused massive unemployment, destroyed trillions in wealth, and triggered an international effort to strengthen the regulation of financial markets and institutions. Will the Brexit referendum and the 2016 U.S. election bring fundamental changes to that path? Mr. Massad has been on the front lines of the U.S. effort to combat the crisis and reform the international financial regulatory system, currently as Chairman of the U.S. Commodity Futures Trading Commission and formerly as Assistant Secretary for Financial Stability at the U.S. Treasury. As head of the U.S. government agency responsible for regulating the nearly $450 trillion futures and swaps markets, much of which is global in nature, Chairman Massad will bring his unique perspective to the future of the financial market regulatory framework agreed to by the G20 Leaders. The speaker of the public lecture Timothy Massad was sworn-in as Chairman of the Commodity Futures Trading Commission on June 5, 2014, after being confirmed by the United States Senate as Chairman and as a Commissioner of the CFTC. Previously, Mr. Massad was nominated by President Obama and confirmed by the U.S. Senate as the Assistant Secretary for Financial Stability at the U.S. Department of the Treasury. In that capacity, Mr. Massad oversaw the Troubled Asset Relief Program (TARP), the principal U.S. governmental response to the 2008 financial crisis designed to help stabilize the economy and provide help to homeowners. Under TARP, Treasury's investments in financial institutions, the credit markets and the auto industry prevented the economy from falling into a depression. Mr. Massad was responsible for the day-to-day management and recovery of TARP funds, and during his tenure, Treasury recovered more on all the crisis investments than was disbursed. Mr. Massad also served as Chief Counsel for the program prior to becoming Assistant Secretary. Prior to joining Treasury, Mr. Massad served as a legal advisor to the Congressional Oversight Panel for the Troubled Asset Relief Program, under the leadership of (now Sen.) Elizabeth Warren. Mr. Massad assisted the panel in its first report evaluating the investments made by Treasury under TARP. Prior to his government service, Mr. Massad was a partner in the law firm of Cravath, Swaine & Moore, LLP. Mr. Massad had a broad corporate practice with a focus on corporate finance and financial markets. He helped to draft the original standardized agreements for swaps and helped many businesses negotiate and execute transactions to hedge exposures in the derivatives markets. Mr. Massad earned his bachelor's and law degrees at Harvard. Mr. Massad was born in New Orleans, Louisiana, and also lived in Texas, Oklahoma and Connecticut as a child. He and his wife, Charlotte Hart, live in Washington with their two children. The lecture sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.systemicrisk.ac.uk/events/financial-regulation-back-future |
| Description | Financial cycles, risk, macroeconomic causes and consequences |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Organisers: Jon Danielsson (SRC/LSE), Marcela Valenzuela (Catholic University of Chile & SRC), Ilknur Zer (Federal Reserve Board & SRC) This is a two-part event which will focus on the effects of financial risk on uncertainty, business cycles, capital flows, and macroeconomy. Part 1 of the conference will provide a forum for discussing innovative research in the area and facilitate the exchange of views among researchers and policymakers. Speakers: Anusha Chari (University of North Carolina at Chapel Hill), Sebnem Kalemli-Özcan (University of Maryland), Carolin Pflueger (University of Chicago), Moritz Schularick (University of Bonn & FRBNY), Ilknur Zer (Federal Reserve Board & SRC). Part 2 of the event concluded the day with a panel "Financial risk, macroeconomy and central bank response to COVID-19", bringing together leading policymakers and economists to discuss policy lessons pertaining to the financial and macroeconomic consequences of COVID-19 and related policy responses. Panellists: Alex Brazier (Bank of England), Jon Danielsson (SRC/LSE), Pat Parkinson (Bank Policy Institute), Isabel Schnabel (ECB & University of Bonn) Chair: Yves Mersch (Former Member of the Executive Board, European Central Bank and Member of the SRC Scientific Advisory Board) |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/events/financial-cycles-risk-macroeconomic-causes-and-consequences |
| Description | Financial markets and macro prudential policies |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | An academic seminar given by J Danielsson at University of Iceland on 10 October 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.hi.is/vidburdir/fjarmalamarkadir_og_thjodhagsvarud |
| Description | Financial regulation when the government goes for growth |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Date: Thursday 6th October 2022 Time: 18.00-19.30 BST Venue: Conference Room, 1st floor, 1.06, Marshall Building, LSE (map) Confirmed speakers: Charlotte Clark (ABI), Jón Daníelsson (SRC/LSE), Kevin James (SRC/LSE), Eva Micheler (SRC/LSE) Chair: Lutfey Siddiqi (LSE & NUS RMI) In his speech on the 23rd of September, the Chancellor declared: "We need a new approach for a new era, focused on growth". Since financial markets play a crucial role in promoting economic growth and stability, the new government is planning on "an ambitious package of regulatory reforms" to ensure that they do their part. But what exactly should that package of reforms include? And with a government prepared to act as boldly as this one in pursuit of its objectives, no option is off the table. This panel features a range of financial market experts who will explore how the government can reform financial regulation to improve the performance of the UK economy. A write-up is available here https://www.systemicrisk.ac.uk/sites/default/files/2022-10/RegGrowthWriteUp.221025-3.pdf |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/events/financial-regulation-when-government-goes-growth |
| Description | Financial risk |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | A lecture for employees of Santander at the LSE Executive Education programme |
| Year(s) Of Engagement Activity | 2013 |
| Description | Financializing the non-financial firm |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Date: 17th June 2022 Time: 18:30-20:00 Venue: Sheikh Zayed Theatre, New Academic Building, LSE (map) Speaker: Katharina Pistor (Columbia University) Chair: Eva Micheler (SRC/LSE) Conventional accounts treat the firm as a site of production and surplus creation. Historically, the corporation was a critical vehicle for capital-intensive production; it shielded investors from liability and committing their capital to the firm for the long term. Over the past half century, the corporate form has been redeployed as a site for financialization, that is, a singular focus on financial returns irrespective of a firm's business purpose. In this lecture, Katharina traces the evolution of the corporation from a vehicle for raising capital into one for creating capital in the hands of shareholders. Four factors have been critical for this outcome: First, changes in rules governing corporate capital including dividend and rules on share-repurchases; second, the rise of institutional investors and their desire for stable cash flows; third, the transposition of structured (debt) finance to the balance sheets of non-financial firms; fourth, the fragmentation of business operation into corporate group structures domestically and transnationally. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/events/financializing-non-financial-firm |
| Description | Fire sales and systemic risk: Monitoring and macroprudential policies - Bank of England |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | A talk by Eric Schaanning at the Bank of England in January 2016 |
| Year(s) Of Engagement Activity | 2016 |
| Description | Fire sales and systemic risk: Monitoring and macroprudential policies - Swiss National Bank |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | A talk by Eric Schaanning at the Swiss National Bank in March 2016. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Fire sales, price-mediated contagion and systemic risk |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | A talk by Eric Schaanning at the Federal Reserve Bank of New York, New York, July 2016 |
| Year(s) Of Engagement Activity | 2016 |
| Description | Fire sales, price-mediated contagion and systemic risk |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A presentation by Eric Schaanning at the Bi-annual World Congress of the Bachelier Financial Society, New York, July 2016 |
| Year(s) Of Engagement Activity | 2016 |
| Description | Fire sales, price-mediated contagion and systemic risk |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by Eric Schaanning at ETH Zürich, September 2016 |
| Year(s) Of Engagement Activity | 2016 |
| Description | Form text analytics to meaningful networks of relations |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by T Aste at the International Workshop Sentiment Classification and Opinion Mining Using News Wires and Micro Blogs (Twitter), 20 June 2014, London, UK. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Fourth Economic Networks and Finance Conference |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Following the success of last year's economic networks and finance conference, this event brought together academics, policy-makers and practitioners working in the area of banking and network analysis, to stimulate the academic discourse on the generation of aggregate risk through network interactions. The event generated questions and discussion on an important topic. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/fourth-economic-networks-and-finance-conference |
| Description | Frank Page - 11th Annual UECE - Lisbon Meetings - Game Theory and Applications |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Frank Page was the organizer of two sessions one Financial Networks and Systemic Risk and one on Stochastic Games at the 11th Annual UECE - Lisbon Meetings - Game Theory and Applications, November, 2019, Lisbon Portugal. The sessions sparked questions and discussions afterwards. |
| Year(s) Of Engagement Activity | 2019 |
| Description | From evolving to temporal networks: the impact on spreading |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Type Of Presentation | keynote/invited speaker |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A seminar by Claudio Tessone on "From evolving to temporal networks: the impact on spreading" Interaction with relevant academic audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/claudio-tessone |
| Description | Frontiers of Research in Systemic Risk Forecasting |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | The conference brings together academics and policy makers working in the area of systemic risk to discuss the latest developments in research in systemic risk forecasting. Interaction with academic audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/frontiers-research-systemic-risk-forecasting |
| Description | Frontiers of Systemic Risk Modelling and Forecasting |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The aim of the conference is to discuss recent developments in the identification of the sources of systemic risk in the financial system, as well as research relating to innovative risk modelling techniques. Furthermore, the discussion will be motivated from a variety of locus emanating from current economics research including behavioural, macro, financial and statistical modelling. Organisers: Kyle Moore (SRC, LSE) and Jon Danielsson (SRC, LSE) Speakers: Ciril Bosch (Technical University Berlin), Patricia Gómez-González (MIT Department of Economics), Christian Julliard (LSE), Oliver Kley (Technical University Munich), Kyle Moore (LSE), Efstathios Panayi (UCL) TBC, Matthew C. Ringgenberg (Washington University in St. Louis), Fabrizio Spargoli (Erasmus University Rotterdam). Fruitful academic exchange of research and ideas |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/frontiers-systemic-risk-modelling-and-forecasting |
| Description | Gerardo Ferrara (Bank of England) seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | Lunchtime seminar on 21st October 2019. Seminar Title: Stimulating liquidity stress in the derivatives market Abstract: We investigate whether margin calls on derivative counterparties could exceed their available liquid assets and, by preventing immediate payment of the calls, spread such liquidity shortfalls through the market. Using trade repository data on derivative portfolios, we simulate variation margin calls in a stress scenario and compare these with the liquid-asset buffers of the institutions facing the calls. Where buffers are insufficient we assume institutions borrow additional liquidity to over the shortfalls, but only at the last moment when payment is due. Such delays can force recipients to borrow more than otherwise, and so liquidity shortfalls can grow in aggregate as they spread through the network. However, we find an aggregate liquidity shortfall equivalent to only a small fraction of average daily cash borrowing in international repo markets. Moreover, we find that only a small part of this aggregate shortfall could be avoided if payments were coordinated centrally. The seminar sparked discussion and questions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/seminars/gerardo-ferrara |
| Description | Giovanni Covi (Bank of England) seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | Seminar on 2nd March 2020. Seminar Title: On the Origins of Systemic Risk Abstract: Systemic risk in the banking sector, i.e. the probability to have a large number of banks going into distress simultaneously, is usually associated with long periods of economic downturns and very large social costs. On one hand, shocks coming from common exposures towards the real economy may induce correlation in banks' default probabilities thereby increasing the likelihood for systemic events. On the other hand, financial contagion and market failures may also play an important role in generating large-scale market failures. We propose a microstructural model calibrated on a new granular datasets able to disentangle the different sources of systemic risk and identify its main drivers for the Euro Area banking system. Our results show that common exposures to the real economy represent a source of risk for individual bank distress but less so for systemic events. Systemic events, in turn, are possible due to the interaction between common economic shocks, weakening banks' balance sheets, and financial contagion channels. The results obtained with the simulation engine nicely resemble common market-based systemic risk indicators. The seminar sparked questions and discussions. |
| Year(s) Of Engagement Activity | 2020 |
| URL | http://www.systemicrisk.ac.uk/seminars/giovanni-covi |
| Description | Giving guidance on future monetary policy in a very uncertain world - Public Lecture |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | MPC member, David Miles explored the paradox of giving guidance on the course of monetary policy in an uncertain economic environment and consider the subsequent lessons for setting policy in a public event. The event was very well attended and discussion was stimulating |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/giving-guidance-future-monetary-policy-very-uncertain-world-pub... |
| Description | Global financial risk |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | A lecture in the IEB international financial markets programme under the auspices of the LSE Executive Education programme |
| Year(s) Of Engagement Activity | 2013 |
| Description | Gold-plating will stay common, academic argues |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | News article on international regulations Risk.net |
| Year(s) Of Engagement Activity | 2014 |
| Description | Goodhart - "The central banks have overestimated themselves." Interview |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Charles Goodhart was interviewed by Dennis Kremer at Frankfurter Allgemeine "Die Notenbanken haben sich überschätzt" (""The central banks have overestimated themselves.") in February 2022. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.faz.net/aktuell/finanzen/oekonom-goodhardt-wie-sich-die-notenbanken-ueberschaetzt-haben-... |
| Description | Goodhart - 'Then the system loses its anchor' by Malte Fischer -- Interview, Redaktion WirtschaftsWoche, |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Charles Goodhart was interviewed by Malte Fischer in 'Then the system loses its anchor' , Redaktion WirtschaftsWoche, March 2021 |
| Year(s) Of Engagement Activity | 2021 |
| Description | Goodhart - Beleggen', Interview with Charles Goodhart by Kris Van Hamme, De Tijd, |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Charles Goodhart was interviewed by Kris Van Hamme, De Tijd, March 2021 pp 39/40. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.tijd.be/markten-live/nieuws/algemeen/de-wereld-is-niet-klaar-voor-een-inflatiestijging/1... |
| Description | Goodhart - Dyre Laerepenge, Interview with Charles Goodhart by Kare Holm Thomsen, Weekendavisen |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Charles Goodhart was interviewed by Kare Holm Thomsen, Weekendavisen 'Dyre Laerepenge,' March 2021. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.weekendavisen.dk/2021-9/ideer/dyre-laerepenge |
| Description | Goodhart - Economics since the crisis |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Charles Goodhart gave his views on how banks responded to regulations after crises in a video interview in Sept 2017. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://voxeu.org/content/economics-crisis |
| Description | Goodhart - Interview at Expresso (Portuguese magazine) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Charles Goodhart was interviewed at Expresso (Portuguese magazine), 'There is an explosive combination on the horizon, of stagnation with high inflation warns Charles Goodhart, the dean of British economists', by Jorge Nascimento Rodrigues, Expresso, 18 November 2021, |
| Year(s) Of Engagement Activity | 2021 |
| Description | Goodhart - Profile in WSJ 2022 |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Charles Goodhart was interviewed by Tom Fairless at Wall Street Journal who wrote up a profile of his titled 'Will Inflation Stay High for Decades? One Influential Economist Says Yes' in March 2022. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.wsj.com/articles/inflation-high-forecast-economist-goodhart-cpi-11646837755 |
| Description | Goodhart - Young people will have to pay more taxes to support the elderly, and they won't like it" |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Charles Goodhart was interviewed by Alvaro Sanchez in 'Young people will have to pay more taxes to support the elderly, and they won't like it', El Pais, 26 June 2021. |
| Year(s) Of Engagement Activity | 2021 |
| Description | Goodhart: Canadian legalization of cannabis reduces both cash usage and the 'black' economy |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Blog post 'Canadian legalization of cannabis reduces both cash usage and the 'black' economy', Charles Goodhart and Jonathan Ashworth, Vox EU, http://voxeu.org, 22 January 2019. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://voxeu.org/article/canadian-legalisation-cannabis-reduces-both-cash-usage-and-black-economy |
| Description | Goodhart: Credit mechanics: A precursor to the current money supply debate |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Blog post: Credit mechanics: A precursor to the current money supply debate', (with Frank Decker), Vox EU, 14 December, 2018, www.voxeu.org. |
| Year(s) Of Engagement Activity | 2018 |
| URL | https://voxeu.org/article/credit-mechanics-precursor-current-money-supply-debate |
| Description | Goodhart: Regulatory reform 'won't stop next crisis' |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Newspaper article on regulatory reform and financial crisis Risk.net |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.risk.net/operational-risk-and-regulation/news/2325773/goodhart-regulatory-reform-wont-sto... |
| Description | Great Expectations, Veto Players, and the Changing Politics of Banking Crises |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by J Chwieroth at Paris School of Economics - Institute for New Economic Thinking Joint Conference, Université Paris 1, Paris, France, 28 March 2014. The talk was given to both academic and practitioner audience. It generated questions and discussion. It generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Has cryptocurrencies' charm changed our perspective on money? |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed by Anadolu Agency on his views on cryptocurrencies. The piece sparked discussion afterwards. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.aa.com.tr/en/economy/has-cryptocurrencies-charm-changed-our-perspective-on-money/2226587 |
| Description | Hybrid Technology and Institutional Change |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A paper presentation by D Beunza at Academy of Management Conference in Philadephia, the leading annual conference of management scholars in August 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://program.aom.org/2014/pdf/AOM_2014_Annual_Meeting_Program.pdf |
| Description | Iceland lifts capital controls - The Economist (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was consulted and quoted in the article Iceland lifts capital controls in The Economist on 18th March 2017. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://www.economist.com/news/finance-and-economics/21718889-last-country-marks-symbolic-recovery-i... |
| Description | Iceland to lift capital controls in return to financial markets (Financial Times) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson, Director of Systemic Risk Centre, was interviewed and reported in Financial Times on capital controls in Iceland. It added debates to the topic and raised the profile of SRC and LSE. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://www.ft.com/content/81bc3a88-0737-11e7-97d1-5e720a26771b |
| Description | Icelandic Chamber of Commerce event (Danielsson) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was engaged in an event organised by the Icelandic Chamber of Commerce on Icelandic capital controls. The event sparked questions and discussion and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://sa.is/frettatengt/frettir/retti-timinn-til-ad-afnema-hoeft-er-nuna/ |
| Description | Icesave |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | J Danielsson interviewed in Newsnight Dissemination to general public |
| Year(s) Of Engagement Activity | 2013 |
| Description | Ilaria Piatti (Saïd Business School, University of Oxford) seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | Seminar on 17th February 2020. Seminar Title: Subjective Bond Risk Premia and Belief Aggregation Abstract: The central ingredient of empirical asset pricing tests is the (expected) risk premium. However, heterogeneity in expectations makes aggregation of beliefs to the marginal agent a non-trivial task. This paper proposes a novel aggregation approach inspired by Friedman's "selection in competitive markets" hypothesis. Our measure is available for the cross-section of U.S long term bond maturities and is available in real-time for an extended sample period. We use this measure to revisit conclusions of structural models and find support for rational determinants of risk premia and, in particular, a stronger role for the quantity of risk channel than what has been previously documented. The seminar sparked questions and discussions. |
| Year(s) Of Engagement Activity | 2020 |
| URL | http://www.systemicrisk.ac.uk/seminars/ilaria-piatti |
| Description | Impact of cross-border banking on exports |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | An expert talk by K Neugebauer at Association of German Banks (Bundesverband deutscher Banken) on 15 October 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Information Aggregation in OTC Derivatives Markets - Geneva |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Presentation by Lerby Ergun at the 2016 annual congress of the European economic association, Geneva |
| Year(s) Of Engagement Activity | 2016 |
| Description | Information Aggregation in OTC Derivatives Markets - Kyoto |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Prsentation by Lerby Ergun at the 2016 Asia Meeting of the Econometric Society, Kyoto. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Information Aggregation in OTC Derivatives Markets - Singapore |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Presentation by Lerby Ergun at the 2016 Asia-Pacific Conference on Economics & Finance, Singapore. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Information Aggregation in a Competitive Economy - seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Seminar by Rohit Rahi. Abstract: We consider the market for a risky asset for which agents have interdependent private valuations. We study competitive rational expectations equilibria under the standard CARA-normal assumptions. Equilibrium is partially revealing even though there are no noise traders. Complementarities in information acquisition arise naturally in this setting. We characterize stable equilibria with endogenous information acquisition. Our framework encompasses the classical REE models in the CARA-normal tradition. The event generated questions and discussions. The event generated questions and discussions. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/seminars/rohit-rahi |
| Description | Information Asymmetries, Volatility, Liquidity, and the Tobin Tax |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk A Danilova at Bachelier Colloquium in Stochastic Calculus and Mathematical Finance on 12-18 January 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Information Asymmetries, Volatility, Liquidity, and the Tobin Tax |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk by C Julliard at HSE-ICEF, Moscow, June 27th 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Information Asymmetries, Volatility, Liquidity, and the Tobin Tax |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk by A Danilova at Markets in Transition workshop, Paris, June 13th 2014. The session generated questions and discussion. The session generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Information Asymmetries, Volatility, Liquidity, and the Tobin Tax |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk by C Julliard at 2014 CEPR European Summer Symposium in Financial Markets at Gerzensee, Switzerland, July 14-25, 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Information Filtering Networks |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by T Aste at the International Conference SigmaPhi 2014, 7-11 July 2014, Rhodes, Greece. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Information filtering networks: for gene expression, drug repurposing, and big-data analytics |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A seminar by T Aste at Crick seminar Modelling and Computation in Biology and Medicine, King's College 11 March 2014, London, UK. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Integrating financial stability and monetary policy analysis - Øystein Olsen, Governor of Norges Bank |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/integrating-financial-stability-and-monetary-policy-analysis-0 |
| Description | Intermediated securities and investor rights |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Postgraduate students |
| Results and Impact | In partnership with LSE's Department of Law, the SRC is involved with this one day conference which has the aim of determining if the law is able to ensure that securities continue to be negotiable. Participants will consider whether it is possible to conclude that holding and lending chains have become so complex and inter-connected that investors are systemically compromised in their ability to exercise rights against issuers? And will also ask is it possible to develop a solution that would overcome this problem? And to what extent can regulation make a contribution? Interaction with relevant academic audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/intermediated-securities-and-investor-rights |
| Description | Interview of Jon Danielsson 'LSE: Banking crises are unavoidable" by Risk Magazine |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Jon Danielsson was interviewed on the topic of banking crises and discussed the setting up of Systemic Risk Centre. It raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2013 |
| URL | http://www.risk.net/risk-magazine/profile/2260862/lse-banking-crises-are-unavoidable |
| Description | Interview: BBC Radio 2 Jeremy Vine (Zigrand) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jean-Pierre Zigrand, Director of Systemic Risk Centre, was invited to join the panel discussion at the BBC 2 Radio Jeremy Vine show on 18 May 2016 on the topic of European Union. It sparked discussions and raised the profile of SRC and LSE. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Investors eye this week's stability report from Carney (The Globe and Mail) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson, Director of Systemic Risk Centre, was interviewed by The Globe and Mail. It increased interest in the topics and raised the reputation of SRC and LSE. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.pressreader.com/canada/the-globe-and-mail-ottawaquebec-edition/20160704/281840052986400 |
| Description | Issues in Empirically Modelling Systemic Risk |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Keynote speech and paper given by J Danielsson at 18th Annual Workshop on the Economic Science with Heterogeneous Interacting Agents in Reykjavik University, Iceland Keynote speech and paper given at 18th Annual Workshop on the Economic Science with Heterogeneous Interacting Agents in Reykjavik University, Iceland |
| Year(s) Of Engagement Activity | 2013 |
| URL | https://sites.google.com/site/wehia2013/ |
| Description | James - LSE Financial Regulation Seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Kevin James presented "Ranking Financial Centers from the Perspective of the Real Economy: The Price of Going Public in the UK and the US" at LSE Financial Regulation Seminar, on 13 March 2017. The event sparked questions and discussion afterwards. |
| Year(s) Of Engagement Activity | 2017 |
| Description | James - seminar at Swansea University |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Postgraduate students |
| Results and Impact | Kevin James presented "The IPO Market In Competitive Equilibrium" at University of Swansea Finance Seminar, 21 November 2017. The event sparked questions and discussion afterwards. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Jeff Chwieroth - Bank of England presentation |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Jeff Chwieroth gave a presentation on Pandemic Preferences: Voter Attitudes towards COVID-19 Economic Policy Interventions, at Bank of England, London, UK, 21 September 2021. The presentation was given in the Bank's "New Methods" seminar. It was attended by approximately 50 members of the Bank staff, including the chief economist (Huw Pill). |
| Year(s) Of Engagement Activity | 2021 |
| Description | Jon Danielsson - Has cryptocurrencies' charm changed our perspective on money? |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Jon Danielsson was interviewed on cryptocurrencies in "Has cryptocurrencies' charm changed our perspective on money?" published by Anadolu Agency in May 2021. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.aa.com.tr/en/economy/has-cryptocurrencies-charm-changed-our-perspective-on-money/2226587 |
| Description | Jon Danielsson - New Statesman - Spotlight - Interview |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed by the New Statesman Spotlight. The title of interview is The Policy Ask with Jon Danielsson: "The government should ditch financial regulation that protects big incumbents" |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.newstatesman.com/spotlight/investment/2022/11/the-policy-ask-with-jon-danielsson-the-gov... |
| Description | Jon Danielsson - RUV interview on the economic impact of the coronavirus pandemic |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed by Iceland media RUV on the economic impact of the coronavirus pandemic. Writeup: https://www.ruv.is/kveikur/atvinnuvegurinn-sem-hvarf/ Video: https://www.ruv.is/sjonvarp/spila/kveikur/29047/8l0e3p |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.ruv.is/kveikur/atvinnuvegurinn-sem-hvarf/ |
| Description | Jon Danielsson - Systemic risk and digital assets (Coingeek) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Jon Danielsson was interviewed and gave comments on the piece "Systemic risk and digital assets" published in Coingeek on 16th Jan 2023 following the FTX's collapse. |
| Year(s) Of Engagement Activity | 2023 |
| URL | https://coingeek.com/systemic-risk-and-digital-assets/ |
| Description | Jon Danielsson - The Illusion of Control - VoxTalk Economics S5 Ep43 |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Jon Danielsson was interviewed by Tim Phillips on VoxTalk Economics on his book The illusion of control. The podcast was published on 23rd Sept 2022. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://cepr.org/multimedia/illusion-control |
| Description | Jon Danielsson - The Illusion of Control: Why Financial Crises Happen, and What We Can (and Can't) Do About It Podcast |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed in a podcast published on 22 Sept 2022 from "Sounds About Right: Audiobooks to Help Us Understand the World" on his book The Illusion of Control: Why Financial Crises Happen, and What We Can (and Can't) Do About It. Some of topics in the episode discussed includes: How we have the best intentions with short term ideas in regulating financial systems however the desired outcome isn't always the case. How the banks have abused their power because of the publics lack of understanding of how finance works and how this has been at the root of many financial scandals Why it's important for us to have political leaders at moment of financial crises and systemic risks The cost of living crisis What lessons from the past could we learn from to ensure the same mistakes aren't made again?...and what can we do? |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://soundsaboutpod.buzzsprout.com/1908151/11259299 |
| Description | Jon Danielsson - Ukraine sanctions on the main newsmagazine on Iceland RUV TV station |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed and discussed Ukraine sanctions on the main newsmagazine on Iceland RUV TV station in March 2022. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.ruv.is/frett/2022/03/06/horfum-fram-a-langt-strid-i-ukrainu |
| Description | Jon Danielsson - executive seminar in Florence |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Professional Practitioners |
| Results and Impact | Jon Danielsson gave an executive seminar on The New World of Financial Stability on 28/06/19 in Florence. The talk sparked questions and discussions. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Jon Danielsson - interview by Iceland paper Viðskiptablaðið on financial crisis and the coronavirus pandemic |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed by the Iceland paper Viðskiptablaðið on his views on the possibility of a financial crisis and the coronavirus pandemic. The interview was published on 26th March 2020. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Jon Danielsson - media interview on the impact of the coronavirus pandemic |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed by the Icelandic media Frettabladid on the economic impact of the coronavirus pandemic and recovery. The interview was published on 25th March 2020. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://frettabladid.overcastcdn.com/documents/200325.pdf |
| Description | Jon Danielsson - media responses to blog post "What happens if bitcoin succeeds?" |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Various media outlets responded to Jon Danielsson's blog post on VOXEU "What happens if bitcoin succeeds?" published on 26th February 2021. They included Decrypt, BeInCrypto, Crypto Briefing, Cointelegraph, Finance Magnates, Bitcoin.com, Coin Journal, Inside Bitcoins, and Bollyinside. The blog post generated a lot of discussion on social media. |
| Year(s) Of Engagement Activity | 2021 |
| Description | Jon Danielsson - mistakes made by central banks in Covid response |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Jon Danielsson was interviewed by the business newspaper, Vidskiptabladid, and discussed mistakes made by central banks in Covid response and why that causes difficulties in responding to Ukraine invasion. (Feb 2022) |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.vb.is/frettir/sedlabankar-gert-reginmistok/173130/ |
| Description | Jon Danielsson - on cryptocurrencies on Icelandic 'Business Magazine' |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed for the Icelandic Business Magazine on cryptocurrencies. The piece was published on 2nd March 2023. |
| Year(s) Of Engagement Activity | 2023 |
| URL | https://www.vb.is/frettir/upphafid-ad-endalokunum/ |
| Description | Jon Danielsson - on economic consequences of Russia's invasion |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Jon Danielsson was interviewed by newspaper, Frettabladid, and discussed economic consequences of Russia's invasion. (Feb 2022) |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.frettabladid.is/markadurinn/innrasin-skekur-hagkerfi-heimsins/ |
| Description | Jon Danielsson - on economic consequences of Russia's invasion |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Jon Danielsson was interviewed by business newspaper, Vidskiptabladid, and discussed economic consequences of Russia's invasion. (March 2022) |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.vb.is/frettir/sedlabankar-i-sogulega-erfidri-stodu/173372/ |
| Description | Jon Danielsson - on economic consequences of Russia's invasion (RAI TV) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Jon Danielsson was interviewed by RAI TV and appeared on programme TG1. He discussed economic consequences of Ukraine invasion. (16th March 2022) |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.raiplay.it/video/2022/03/TG1-Economia-del-16032022-3c349c6b-c5ac-453e-991b-c8b49dfb5683.... |
| Description | Jon Danielsson - online seminar Artificial Intelligence and Systemic Risk |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Jon Danielsson, Director of SRC, gives an online seminar on Artificial Intelligence and Systemic Risk on 24th October 2019, organised by the Florence School of Banking & Finance. Artificial intelligence (AI) is rapidly changing how the financial system is operated, taking over core functions because of cost savings and operational efficiencies. AI will assist both risk managers and microprudential authorities. By the same token AI has also the potential to destabilise the financial system, creating new tail risks and amplifying existing ones due to procyclicality, endogenous complexity, optimisation against the system and the need to trust the AI engine. Jon Danielsson discusses this topic on the basis of the most recent results of his research, published in a paper in June 2019. The presentation is followed by the intervention of a discussant and a Q&A session with the public. The video recording is available here. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Ffbf.adobeconnect.com%2Ffbf_webinar... |
| Description | Jon Danielsson -talk in Crypto Valley Blockchain 2019 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson gave a talk in Crypto Valley Blockchain 2019 on 24-26/06/19 in Switzerland. The talk sparked questions and discussion. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://app.qwoted.com/opportunities/event-2019-crypto-challenge-forum-2019 |
| Description | Jon Danielsson Directorate General of Macroprudential Policy and Financial Stability (DGMF) seminar series (ECB) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Jon Danielsson gave a seminar at the Directorate General of Macroprudential Policy and Financial Stability (DGMF) seminar series - "Artificial intelligence and systemic risk"on 04/02/19 in Frankfurt ECB. The talk sparked discussions and questions. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Jon Danielsson interviewed Finanz und Wirtschaft (Swiss financial newspaper) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed by Pascal Meisser at Finanz und Wirtschaft (Swiss financial newspaper) in July 2019 on how to measure risk. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.fuw.ch/article/wir-messen-die-risikofaktoren-falsch/ |
| Description | Jon Danielsson invited talk in WEHIA summer school |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | Jon Danielsson gave a talk on "Endogenous systemic risk" in WEHIA PhD School in UCL on 21 June 2019. The talk sparked questions and discussions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://sites.google.com/view/2019wehiaschool/ |
| Description | Jon Danielsson seminar in Cyprus |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Postgraduate students |
| Results and Impact | Jon Danielsson gave a seminar in Department of Accounting and Finance in University of Cyprus on 17 April 2019. The talk sparked discussions and questions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.ucy.ac.cy/afn/en/20-en-articles/en-topm/115-seminars-2019 |
| Description | Jon Danielsson seminar in Lancaster University |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Postgraduate students |
| Results and Impact | Jon Danielsson gave a seminar on Risk appetite and economic growth in Lancaster University on 8 May 2019. The talk sparked questions and discussions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.lancaster.ac.uk/lums/research/events/economics-seminar-jon-danielsson-lse |
| Description | Jon Danielsson's interivew (Institutional Money) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson, Director of Systemic Risk Centre, was interviewed by a German newspaper Institutional Money on systemic risk and financial institutions. It increased interest in the topics and raised the profile of SRC and LSE. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Jon Danielsson's interview by Charles University |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | Jon Danielsson, Director of Systemic Risk Centre, was interviewed and reported in the Newsletter of Institute of Economic Studies of the Faculty of Social Sciences at Charles University. It sparked questions and discussion and raised the reputation of SRC and LSE. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://ies.fsv.cuni.cz/default/file/get/id/30777 |
| Description | Karin Joeveer - Radio discussion on the high profits of the commercial banks in the environment of increasing regulatory interest rates. |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | On 13.02.2023 Karin Joeveer gave an interview to radio discussion in Estonia on the high profits of the commercial banks in the environment of increasing regulatory interest rates. |
| Year(s) Of Engagement Activity | 2023 |
| Description | Karin Joeveer - TV interview on high inflation and further increasing regulatory interest rates |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | On 28.02.2023 Karin Joeveer was in the most watched evening TV news in Estonia commenting on the high inflation and further increasing regulatory interest rates. Other interviewees included the president of the national central bank of Estonia and a chief economist of the biggest commercial bank. |
| Year(s) Of Engagement Activity | 2023 |
| URL | https://www.err.ee/1608900107/inflatsiooni-ohjeldamiseks-jatkuvad-intressitousud-ka-jargmisel-aastal |
| Description | Karin Joeveer - TV interview on regulation of saving and loan associations |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Karin Joeveer was in Morning TV on 27.10.2022 for an interview in regarding regulation of saving and loan associations. During 2022 several big saving and loan associations failed in Estonia and the discussion of establishing regulation on them emerged. |
| Year(s) Of Engagement Activity | 2022 |
| Description | Kevin James - "City or Industry? Take 2" LFR seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | Kevin James gave a seminar: "City or Industry? Take 2", London Financial Regulation Seminar at Queen Mary Advanced Commercial Law Centre, 9 Nov 2021 |
| Year(s) Of Engagement Activity | 2021 |
| Description | Kevin James - CSFI Roundtable "Rebooting UK Financial Regulation for a Post-Brexit World" |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Kevin James presented ideas on how to reform UK financial regulation at the CSFI Roundtable "Rebooting UK Financial Regulation for a Post-Brexit World" (7 Oct 2021). Impact: inspired debate on adding a growth objective to the FCA's objectives; |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.csfi.org/2021-10-07-rebooting-uk-financial-regulation |
| Description | Kremens - The Quanto Theory of Exchange Rates |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Postgraduate students |
| Results and Impact | Lukas Kremens presented the paper The Quanto Theory of Exchange Rates at these conferences: Annual Conference in International Finance (Cass Business School, June 2017, best paper prize), NBER Summer Institute (International Asset Pricing session, July 2017), European Winter Finance Conference (Andermatt, January 2018), Annual Conference of the Swiss Society for Financial Market Research (Zurich, April 2018). The paper also received Paul Woolley Working Paper Prize (July 2017). |
| Year(s) Of Engagement Activity | 2017,2018 |
| Description | LSE Workshop on Networks in Macro & Finance Event |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | This event brought together researchers working in the emerging area that applies network theory to macroeconomics and finance. The workshop stimulated the academic discourse on the aggregate implications of network interactions in propagating and amplifying shocks in the economy. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.systemicrisk.ac.uk/events/lse-workshop-networks-macro-finance |
| Description | LSE and Business breakfast briefing: European Banking Union |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | A Chatham House rule conference with high level stakeholders |
| Year(s) Of Engagement Activity | 2013 |
| URL | http://www.systemicrisk.ac.uk/events/breakfast-briefing-european-banking-union |
| Description | LSE-Bank of England Financial Market Infrastructure (FMI) Workshop |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | LSE Law hosted a research workshop on 9th May 2017 attended by members of LSE Law, the LSE Systemic Risk Centre and the Bank of England Financial Market Infrastructure Directorate. Papers were delivered on several topical themes including fintech, the recovery and resolution of central counterparties (CCPs), the use of collateral and insights from empirical research. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Law and Finance Conference - paper discussion by Jo Braithwaite |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Discussant: Law and Finance Conference, Oxford (27 May 2016). Jo Braithwaite delivered a detailed reply to a paper on how the efficient markets hypothesis might apply in the context of the markets in over-the-counter (non-exchange traded) derivatives. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Live broadcast on Icelandic TV - Jon Danielsson |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson gave a live interview on British General Elections day. |
| Year(s) Of Engagement Activity | 2017 |
| Description | London-Paris Bachelier Workshop on Mathematical Finance 2017 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Albina Danilova presented "Speculative Trading and Derivative Market Imbalances" and Gareth Peters presented "Advances in Stochastic Mortality Modelling and Demographic Feature Extraction". The authors interacted with relevant audiences. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://www.ucl.ac.uk/maths/events/other-events/london-paris-bachelier-mathematical-finance-2017/abs... |
| Description | Looking Backward to Posterity: the statistics of crisis |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | George Santayana remarked "those who cannot remember the past are condemned to repeat it". Regulation following economic collapse has often been a precursor to calamity and this debate explores regulation's role in financial crises. Organisers: Kyle Moore (SRC, LSE) and Jon Danielsson (SRC, LSE) Speakers: Jon Danielsson (Systemic Risk Centre, LSE), Casper de Vries (Erasmus School of Economics), Dan di Bartolomeo (Northfield Information Services, Inc), Philipp Hartmann (Head of Directorate General Research of the European Central Bank) and Mark Flood (Research Principal, Office of Financial Research, US Treasury) Stimulated a public debate |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/looking-backward-posterity-statistics-crisis |
| Description | Macrae - Where risk models go wrong |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Robert Macrae gave a webinar Where risk models go wrong on 14 Feb 2018 at CFA Society. Almost all modern investment processes involve a risk model as a way to balance risk and return, and with good reason. Making money is tough, as any variant of efficient markets hypothesis will suggest, but competitive pressures do not really apply in the same way to risk models and so we can expect reasoned estimates of risk to do better than guesses 9 times out of 10. As a result, risk models are everywhere, and largely they work well. However, as someone who has written and used risk models for more than 25 years, Robert Macrae, CFA, does not think they work quite as well as their more enthusiastic promoters suggest. There are limits, there are problems, so it is well worth taking a step back and asking what we can realistically expect them to achieve. In this presentation, Robert will explore areas where risk software might give you answers that are unreliable |
| Year(s) Of Engagement Activity | 2018 |
| URL | https://secure.cfauk.org/events/events-details/index.html?article=Mjg0Nw== |
| Description | Macro-economic Stabilization in the euro-zone: a simple model and an application (with Christian Ruiz-Palermo) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A seminar given by Bob Hancke at the University of Geneva, 10 November 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Macroprudential Stress Test and Policies: A Framework |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The International Monetary Fund hosted the IMF/LSE Symposium: Macroprudential Stress Test and Policies: A Framework in Washington D.C. on December 15-16, 2016. Stress testing has become firmly embedded in the postcrisis macroprudential agenda of major financial centers around the world. The aim of this project is threefold: (i) present state-of-the-art macroprudential stress test methodologies discussing modeling and implementation challenges; (ii) provide a roadmap for future research and practical implementations in stress testing and; (iii) guide authorities on the use of MaPSTs to support macroprudential tool calibration and policies The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/macroprudential-stress-test-and-policies-framework |
| Description | Macroprudential oversight, risk communication and visualizations - seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | This paper discusses the role of risk communication in macroprudential oversight and of visualization in risk communication. Beyond the soar in availability and precision of data, the transition from firm-centric to system-wide supervision imposes obvious data needs. Moreover, broad and effective communication of timely information related to systemic risks is a key mandate of macroprudential supervisors, which further stresses the importance of simple representations of complex data. Risk communication comprises two tasks: internal and external dissemination of information about systemic risks. This paper focuses on the background and theory of information visualization and visual analytics, as well as techniques provided within these fields, as potential means for risk communication. We define the task of visualization in internal and external risk communication, and provide a discussion of the type of available macroprudential data and an overview of visualization techniques applied to systemic risk. We conclude that two essential, yet rare, features for supporting the analysis of big data and communication of risks are analytical visualizations and interactive interfaces. This is illustrated with implementations of three analytical visualizations and five web-based interactive visualizations to systemic risk indicators and models. The event generated questions and discussion. The event generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/seminars/peter-sarlin-0 |
| Description | Making markets fair and effective - Public Lecture |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A public speech given by Nemat (Minouche) Shafik, Deputy Governor of the Bank of England. Shafik is Deputy Governor for Markets & Banking. She represents the Bank in international groups and institutions, including as G7 Deputy and in the Bank's engagement with the IMF, overseas central banks and the Bank for International Settlements (BIS). Dr Shafik sits on the Monetary Policy Committee, and attends the Financial Policy Committee and the Bank's Court of Directors. The event generated questions and discussion. The event generated questions and discussion on an important topic |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/making-markets-fair-and-effective-public-lecture |
| Description | Managing and financing European bank resolution |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A one-day conference on managing and financing European bank resolution organised by Charles Goodhart Interaction with audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/managing-and-financing-european-bank-resolution |
| Description | Mapping European Competitiveness - talk by Neugebauer at Bruegel |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | It was the final conference of the EU project MAPCOMPETE which had high policy relevance. The Blueprint will be published by Bruegel. The presentation sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://mapcompete.eu/wp-content/uploads/2015/05/Mapcompete-Final-conference-plan.pdf |
| Description | Marcela Valenzuela - organiser of Santiago Finance Workshop 2019 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | The Santiago Finance Workshop brought together academics, regulators and practitioners from all over the world in order to discuss new empirical and theoretical research that deals with finance, to highlight some of the associated challenges for regulators, but also to assess how regulatory changes may induce in turn some financial innovations in the market. The keynote speaker was Prof. Itay Goldstein (University of Pennsylvania - Wharton School), executive editor of The Review of Financial Studies. The meeting was organized by the Millennium Institute for Research in Market Imperfections and Public Policy, the Center of Applied Economics, the Center of Finance and the Business School at University of Chile. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Mark-to-Market Accounting and Systemic Risk: Evidence from the Insurance Industry |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Type Of Presentation | keynote/invited speaker |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | A seminar by Andrew Ellul on "Mark-to-Market Accounting and Systemic Risk: Evidence from the Insurance Industry" Interaction with relevant academic audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/seminars/andrew-ellul |
| Description | Market Liquidity Resilience |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A paper presented by JP Zigrand at the Cardiff Business School in March 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Market Resilience |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | JP Zigrand presented a paper at a Finance Seminar - joint with SAFE. It generated questions and discussion. It generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://safe-frankfurt.de/news-media/events/event-view/termin/event/tx_cal_phpicalendar/2014/04/29/fi... |
| Description | Market liquidity Resilience |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by E Panayi at Risk & Stochastics Conference, LSE on 24-25 April 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Market liquidity Resilience |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by E Panayi at Forecasting Financial Markets conference, Marseille on 21-23 May 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Market stability, social distancing and the future of trading floors after COVID-19 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The return to the office has presented banks with the challenge of rethinking the traditional configuration of their trading floors to reconcile social distancing with physical proximity. Unlike other industries, where work from home proved surprisingly effective, the experience with Covid suggests that proximity is particularly important in trading, not simply in terms of financial returns but also of market stability. For instance, a recent report from the Bank for International Settlements notes that the move to work from home added to market volatility in March 2020. In light of that concern, how should the "new normal" trading floor look like? This panel event informs the existing debate over trading floor design by considering the recent experience from the Covid lockdown, as well as the lessons from existing academic studies of trading floors and market stability. It asks: what organisational policies have helped banks preserve continuity in their trading during the shift to work from home? What is the role of technology in supplementing physical proximity? What other difficulties has working from home posed for trading compliance, security, the wellbeing of traders, etc.? What long-term challenges lie ahead in areas such as financial innovation or career progression? This event promotes discussion on these topics by bringing together an online panel of academics from economics, finance, management and architecture, along with bank executives and journalists. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/events/market-stability-social-distancing-and-future-trading-floors-a... |
| Description | Masterclass series: Heavy Tails & Extreme Value Theory and Market Risk & Systemic Risk |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Postgraduate students |
| Results and Impact | The workshop sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/masterclass-series-heavy-tails-extreme-value-theory-and-market-... |
| Description | Masterclass series: Prediction and investment strategies in markets prone to crashes and bubbles |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | This Masterclass will cover a number of relevant topics where we have reliable models concerning the prediction of stock market crashes, including entry and exit/shorting times. By a bubble market we mean a market whose price exceeds fair value and that is increasing in price through some self-fulfilling feedback loop. To the extent that bubble markets appear and rise because of behavioural considerations and market euphoria, such diagnostic tools are useful to prevent excessively risky positions. A related topic aims to better understand the risks that people in banks and other institutions run of losing outsized amounts of money trading derivatives. We will discuss a number of cases where huge losses were borne that could have been prevented with proper risk control models. Finally we will discuss the pros and cons (including risk) of the Kelly investment strategy and it variants that attempt to maximise long run growth of wealth. Dissemination of specialised knowledge |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/masterclass-series-prediction-and-investment-strategies-markets... |
| Description | Masterclass series: Risk Management Issues in Central Counterparty Clearing |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/masterclass-series-risk-management-issues-central-counterparty-... |
| Description | Masterclass series: Risky Strategic Interactions and the Emergence of Stationary Network Dynamics |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Postgraduate students |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/masterclass-series-risky-strategic-interactions-and-emergence-s... |
| Description | Masterclass series: Static and Dynamic Portfolio Theory and Applications |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Postgraduate students |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/masterclass-series-static-and-dynamic-portfolio-theory-and-appl... |
| Description | Masterclass series: Strategic network formation and the emergence of equilibrium network dynamics |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | In all social and economic interactions, individuals or coalitions choose not only with whom to interact but how to interact, and over time both the structure (the "with whom") and the strategy ("the how") of interactions change. Our objectives will be to model the structure and strategy of interactions prevailing at any point in time as a directed network and to address the following questions in the theory of social and economic network formation: (i) Given the rules of network formation, the preferences of individuals over networks, and the strategic behaviour of individuals and coalitions in forming networks, what networks are likely to emergence and persist. Thus, we propose to study the emergence of endogenous networks from the rules of network formation and the strategic behaviour of individuals and coalitions in forming networks. (ii) Given the rules of network formation, the preferences of individuals over networks, the strategic behaviour of coalitions in forming networks, and the trembles of nature through time, what network and coalitional dynamics are likely to emergence and persist. Thus, we propose to study the emergence of equilibrium network dynamics from the rules of network formation, the preferences of individuals over networks, the strategic behaviour of coalitions in forming networks, and the randomness in nature through time. Dissemination of specialised knowledge |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/masterclass-series-strategic-network-formation-and-emergence-eq... |
| Description | Masterclass series: risk management issues in central counterparty clearing |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | This masterclass provided an overview of the current risk management issues in central counterparty clearing. The course started with an introduction to the clearing process and central counterparties (CCPs) and then delve into the finer points and challenges encountered both conceptually and in practise. The course covered the following topics: solvency and liquidity requirements, stress testing, margining methodologies, intra-day margin erosion, concentration risk, collateral management, defaulter pays versus mutualised models and recovery plans. The course sought to engage participants in also providing their perspective and views on how to address potential risk management challenges that exist in the central clearing process today. A very informative session on an important aspect related to current risk management which was beneficial to the audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/masterclass-series-risk-management-issues-central-counterparty-... |
| Description | Matthew Baron (Cornell University) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | Seminar on 9th December 2019. Seminar Title: Intermediaries and Asset Prices: Evidence from the U.S., U.K., and Japan, 1870-2016 Abstract: We study new international data on commercial banks and securities dealers from 1870-2016. Balance sheet expansion of intermediaries negatively predicts asset returns (stocks, bonds, currencies, housing) with high R2. This holds when controlling for macroeconomic predictors, is more concentrated at shorter horizons, and is stronger for intermediaries who participate more in a given security. We find robust predictability outside distress periods, in contrast to models featuring non-linearities during distress. Intermediaries in global financial centers predict asset returns internationally. Our results suggest a strong universal link between intermediaries and asset returns distinct from other macroeconomic channels. We highlight implications for theory. The seminar sparked questions and discussions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/seminars/matthew-baron |
| Description | Media interview on Iceland capital controls (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed by MORGUNBLAÐIÐ FÖSTUDAGUR on Iceland capital controls on 12 June 2015. The interview sparked questions and discussions and raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Media interview on Icelandic capital controls (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed on Icelandic media on the topic of capital controls. The interview sparked questions and discussion afterwards and raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.mbl.is/vidskipti/frettir/2015/06/12/vildu_afram_hafa_hoft_a_islandi_3/ |
| Description | Media mention: Capital Flows, Systemic Risk, and Policy Responses conference |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The conference Capital Flows, Systemic Risk, and Policy Responses organised by Systemic Risk Centre, Central Bank of Iceland, and International Monetary Fund held in April 2016 was reported in MORGUNBLAÐIÐ LAUGARDAGUR (Icelandic media). It increased interests in the topics and raised the reputation of SRC. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Meeting with Federal Reserve and IMF staff |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Jon Danielsson engaged with IMF staff and Federal Reserve staff in June 2015 on topics of systemic risk and macroprudential policies. The meetings sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Meeting with Financial Conduct Authority |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Jon Danielsson and Jean-Pierre Zigrand met with high-level officials in Financial Conduct Authority to discuss whether and in what way asset managers create systemic risks and what an appropriate public policy response might be. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Member of scientific committees of conferences (Julliard) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Christian Julliard was a member of the scientific organising committees of European Finance Association annual meeting (main European Finance conference); European Economic Association annual meeting, (main European Economics conference); Economic Networks and Finance conference (co-organizer); CSEF-EIEF-SITE Conference on Finance and Labor (scientific committee). |
| Year(s) Of Engagement Activity | 2016 |
| Description | Midwest Finance Association 2017 Annual Meeting . Why Risk Is So Hard To Measure (Danielsson) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Jon Danielsson's co-authored paper Why Risk Is So Hard To Measure was presented at the conference. It sparked interests and discussion in the relevant research topics. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://www.midwestfinance.org/ |
| Description | Misspecified Recovery - seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Seminar by Jose Scheinkman. Abstract: Asset prices contain information about the probability distribution of future states and the stochastic discounting of these states. Without additional assumptions, probabilities and stochastic discounting cannot be separately identified. Ross (2013) introduced a set of assumptions that restrict the dynamics of the stochastic discount factor in a way that allows for the recovery of the underlying probabilities. We use decomposition results for stochastic discount factors from Hansen and Scheinkman (2009) to explain when this procedure leads to misspecified recovery. We also argue that the empirical evidence on asset prices indicates that the recovered measure would differ substantially from the actual probability distribution and that interpreting this measure as the true probability distribution may severely bias our inference about risk premia, investors' aversion to risk, and the welfare cost of economic fluctuations. The event generated questions and discussion. The event generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/seminars/jose-scheinkman |
| Description | Model Risk of Risk Models |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | A talk by J Danielsson at the London Quant Group Autumn Seminar in Oxford on 7-9 Sept 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://lqg.org.uk/autumn-seminar-2014-in-oxford/ |
| Description | Model risk in systemic risk models |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A presentation by Eric Schaanning at the Chinese University of Hong Kong & Imperial College conference, London, June 2016. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Modelling Risk Amplification Mechanisms for Macro-prudential Policymaking |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | The global financial crisis emphasised the importance of understanding direct and indirect interconnections in the financial system, and the ways in which institutions' actions could amplify and propagate stress throughout the system. Since the crisis, significant progress has been made in understanding and modelling a variety of these systemic risk amplification mechanisms and how they interact. Policymakers across the globe are now looking to incorporate such models into their macro-prudential toolkits. The purpose of this workshop is to act as a forum for academics and policymakers to discuss recent advances in research and modelling in this area. It is intended to act as a springboard for new collaborations and research ideas, which can in turn inform the development of the next generation of systemic risk models for macro-prudential policymaking. The workshop is jointly organised with the Bank of England. The event sparked questions and discussion afterward and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/modelling-risk-amplification-mechanisms-macro-prudential-policy... |
| Description | Models and Crises: Do Financial Models Affect the Incidence and Severity of Financial Crises? |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Evening debate. Some financial models have been singled out as contributing to the crisis, for example Gaussian copula models for CDO pricing. Other models, such as those used for risk forecasting, are widely seen as having failed before 2007, but still are a central element in the new financial regulations. The panel of experts, drawn from industry and academia, will debate the usefulness of financial models, disagreeing on the question of whether they should be sent to the bin or used even more intensively. Debate on topical issues |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/models-and-crises-do-financial-models-affect-incidence-and-seve... |
| Description | Monetary policy and financial (in)stability |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | While serving distinct objectives, monetary policy and financial stability policy potentially interact in several ways. For example, periods of low interest rates may encourage risk-taking by financial institutions and prepare future crisis, absent proper regulatory safeguards or macroprudential actions. Conversely, financial instability issues may hamper the normal transmission channels of monetary policy. The six research papers gathered in this conference seek to further our understanding of these and related interactions. The one-day conference is hosted by the Banque de France and jointly organised by the Banque de France, Sciences Po and the Systemic Risk Centre of the London School of Economics. The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/monetary-policy-and-financial-instability |
| Description | Money for Nothing - Film Show |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A special screening of the exciting new documentary that takes audiences inside the world's most powerful financial institution: 'Money For Nothing: Inside the Federal Reserve' followed by a panel discussion. First screening of the film in Europe. Interaction with audience. |
| Year(s) Of Engagement Activity | 2013 |
| URL | http://www.systemicrisk.ac.uk/events/money-nothing-film-show |
| Description | Monitoring Systemic Risk: Data, Models and Metrics Workshop |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | JP Zigrand participated in the workshop held in Oxford in September 2014. The sessions generated questions and discussion. The sessions generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | https://www.newton.ac.uk/event/syrw02 |
| Description | Need for Speed: An Empirical Analysis of Hard and Soft Information in a High Frequency World - seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Abstract: We study the role of high frequency traders (HFTs) and non-HFTs in processing hard index price information and soft news information. We show that HFTs and non-HFTs play complementing roles in processing hard and soft information. On one side, we find that HFTs dominate non-HFTs in processing hard information by exhibiting a stronger reaction after the hard information shocks. Thereby, they create a stronger linkage between the futures and stock markets. We demonstrate that speed matters for hard information processing and realizing trading gains due to high short-run trading profits. On the other side, soft news information is primarily processed by non-HFTs and is incorporated into stock prices for a longer amount of time. The event generated questions and discussion. The event generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/seminars/sarah-zhang |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk by C Julliard at 2014 CEPR European Summer Symposium in Financial Markets at Gerzensee, Switzerland, July 14-25, 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Lecture by C Julliard at Duisenberg School of Finance Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2013 |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Lecture by C Julliard at Luxembourg School of Finance Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2013 |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by K Yuan at the IV Workshop ME@Ravello: Rent Seeking in Markets and Institutions: Facts, Theory and Policy in the Wake of the Financial Crisis in June 2014 in Villa Rufolo, Ravello, Italy. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.csef.it/IMG/pdf/final_program-3.pdf |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Talk by C Julliard at 2014 Western Finance Association Meetings, Monterey Bay, California USA on 15-18 June 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Professional Practitioners |
| Results and Impact | A presentation by K Yuan at Bank of England. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Oral presentation by C Julliard at Banque de France Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2013 |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Conference paper presentation by C Julliard at Economic Networks and Banking Conference, LSE Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2013 |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Oral presentation by C Julliard at Swiss Finance Institute, Lugano Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2013 |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Lecture by C Julliard at University of Glasgow Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2014 |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Lecture by C Julliard at Birkbeck University Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2013 |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Conference paper presentation at CEPR - Financial Stability and Regulation Conference in Barcelona Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2014 |
| Description | Network Risk and Key Players: A Structural Analysis of Interbank Liquidity - invited talk |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | K Yuan was invited speaker at the Monitoring Systemic Risk: Data, Models and Metrics workshop in September 2014 in Oxford. The presentation generated questions and discussion. The presentation generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | https://www.newton.ac.uk/event/syrw02/timetable |
| Description | Network Risk and Key Players: Structural Analysis of Interbank Liquidity |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Paper presentation by K Yuan at ESRC Conference on Diversity in Macroeconomics Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2014 |
| Description | Networked Default: Public Debt, Trade Embeddedness, and Partisan Survival in Democracies since 1870 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by J Chwieroth at Annual Meeting of the American Political Science Association, Washington, DC, 28 - 31 August 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Newspaper interview on the Chinese financial market crisis (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was Interviewed by the Icelandic Newspaper "Frettabladid" about the Chinese financial market crisis, why it happened and what may happen. It sparked questions and discussion afterwards and raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Non-Stationarity and Ergordicity in Economic and Financial Systems |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Fabio Caccioli co-organised the Non-Stationarity and Ergordicity in Economic and Financial Systems conference (satellite of CCS16), in Amsterdam (Netherlands), on 20 September 2016. Financial and economic systems are important in every aspects of our life, but their complexity makes it difficult to develop reliable theories to understand their dynamics. In fact, standard approaches in finance and economics rely on concepts and underlying hypothesis (such as the existence of equilibria, market efficiency, perfect competition, rationality) that are far from realistic. The need to go beyond such simplifying assumptions has been highlighted after the financial crisis of 2008 by a number of scientists as well as by policy makers and regulators. To this end, a multidisciplinary approach has been advocated by all parties. In this Satellite we are interested in exploring connections between non-equilibrium statistical physics and financial and economic systems. |
| Year(s) Of Engagement Activity | 2016 |
| URL | https://sites.google.com/site/neefsccs2016/ |
| Description | Northern Finance Association annual conference in Mont-Tremblant, Canada |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | A talk by Alper Odabasioglu at the Northern Finance Association annual conference in Mont-Tremblant, Canada.The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Not European anymore? How an Increasingly Fragmented Financial Sector Affects Global Firms - talk by Neugebauer at Kiel Institute Policy Breakfast |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | The talk sparked questions and discussion afterwards increased interest in related subject areas |
| Year(s) Of Engagement Activity | 2015 |
| Description | Obizhaeva - presentations |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Postgraduate students |
| Results and Impact | Olga Obizhaeva presented her paper Fundraising in the Hedge Fund Industry in several seminars: New Economic School (14 December 2017), Higher School of Economics (15 December 2017), Frankfurt School of Finance&Management (19 January 2018), Stockholm School of Economics (26 January 2018), Rice University (2 February 2018). |
| Year(s) Of Engagement Activity | 2017,2018 |
| Description | Odabasioglu Informed trade uncertainty, amplification mechanisms and persistent price deviations |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Odabasioglu presented his paper Informed trade uncertainty, amplification mechanisms and persistent price deviations at the Seminar at Bank of Canada in February 2018. The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2018 |
| Description | Organisation of a contributed session (title: "Money's Too Tight to Mention: Determinants and Effects of Firms' Financing Constraints") at ASSA Meetings |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The workshop sparked questions and discussion afterwards reported increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Organisation of session "Social media and finance: quantifying social media impact on financial dynamics" in CFE 2015 (Germano) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The five talks in the session sparked questions and discussion afterwards reported increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.cfenetwork.org/CFE2015 |
| Description | Orkun Saka - Cultural stereotypes of multinational banks |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Orkun Saka was interviewed for a podcast episode by VoxTalks Economics on his latest paper, "Cultural stereotypes of multinational banks". It is publicly available on any podcast-related resource including Spotify. |
| Year(s) Of Engagement Activity | 2023 |
| URL | https://open.spotify.com/episode/5zAK8AWTIcrz5rX9aBfaOJ?si=a42b95fd1d664ba9 |
| Description | Orkun Saka - Organisation of a session on Social Capital and Banking Crises during the Allied Social Science Meetings in San Diego, USA (3-5 January, 2020 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Orkun Saka organised a session on Social Capital and Banking Crises during the Allied Social Science Meetings in San Diego, USA (3-5 January, 2020). The workshop sparked questions and discussions on this topic. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Orkun Saka - There is a 'good' reason for EU banks to hold their own country's sovereign debt. |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Orkun Saka wrote a blog piece in LSE Business Review: There is a 'good' reason for EU banks to hold their own country's sovereign debt. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://blogs.lse.ac.uk/businessreview/2020/01/10/there-is-a-good-reason-for-eu-banks-to-hold-their-... |
| Description | P2PFISY 2017: P2P Financial Systems International Workshop |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Paolo Tasca and Tomaso Aste were part of the programme and organising committee of the P2PFISY 2017: P2P Financial Systems International Workshop, University College London, London, UK, July 20-21, 2017 |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://www.p2pfisy.com/about/ |
| Description | PRI Academic Workshop |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/pri-academic-workshop |
| Description | Panel Discussion: Challenges and Opportunities in Reforming Bank Culture |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Five years after the beginning of the financial crisis, the public policy debate has shifted from its causes to the remedies needed to prevent its reoccurrence. Following several studies such as the Kay Review or the Salz Review, a consensus has emerged that a negative bank culture was a core cause of the crisis. Yet our understanding of culture in banks remains incomplete: bank specialists such as economists have traditionally neglected cultural explanations, and culture specialists such as sociologists and anthropologists have largely ignored finance. Unsurprisingly then, most proposed changes involve purely structural measures such as limits to bankers' bonuses, or the separation of investment and commercial banking. But it is unclear how effective these can be. As years of research by management scholars have shown, organisational change is difficult. In the absence of cultural change, structural measures by themselves are rarely sufficient to achieve enduring change. A cultural transformation needs to take place for such measures to work. This panel event will bring together academics and practitioners, and will foster debate about cultural change in banks in the City of London, whilst addressing the following questions: •What should be the role of culture in reforming banks? •What are the appropriate role models and best practices in bank culture? •What are the dangers and challenges in reforming bank culture? Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/panel-discussion-challenges-and-opportunities-reforming-bank-cu... |
| Description | Panel discussion at Lisbon Conference |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Type Of Presentation | keynote/invited speaker |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | JP Zigrand participated in a panel discussion at the International conference on Tendências Actuais e Perspectivas de Evolução da Regulação e Supervisão do Sector Financeiro Na UE e em Termos Internacionais in Lisbon on 19 June 2014. The session generated questions and discussion. The session generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Panel discussion: Bank Culture and Financial Reform: What Works? |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/bank-culture-and-financial-reform-what-works |
| Description | Paying for Efficient and Effective Markets |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Conference organised with Financial Conduct Authority on 22-23 March 2019. Organisers: Jon Danielsson (SRC, LSE), Kevin James (FCA, SRC), Dimitri Vayanos (FMG, PWC, LSE) Speakers: Matteo Aquilina (FCA), Rudi Fahlenbrach (Swiss Institute of Finance), Jill Fisch (U Penn), Mireia Giné (IESE), Kevin James (FCA, SRC), Robert MacKay (Warwick), Daniel Mittendorf (FCA), John Morley (Yale), Emilio Osambela (FRB), Lasse Pedersen (Copenhagen), Edwin Schooling Latter (FCA), Amarjeet Singh (SEBI), Robert Stambaugh (Wharton), Grant Turner (BIS), Dimitri Vayanos (FMG, PWC, LSE) To perform at full potential, the economy requires efficient and effective financial markets that operate at minimum feasible social cost. Actively managed funds play a crucial role in bringing about market efficiency and effectiveness, but only as a by-product of their costly efforts to out-perform the market. Passive investment funds compete for investors by offering low-cost investment options, but they do so in part by taking market efficiency and effectiveness as given. Consequently, it is unclear if market forces alone will lead to the optimal balance of efficiency, effectiveness, and cost. In this two-day conference we will explore these issues, focusing upon: The rise of passive investing How market efficiency arises: The role of active funds, passive funds and benchmarking Do large investment funds affect competition between the firms in which they invest? Manager skill and fund fees in equilibrium The impact of passive funds on corporate governance The implications of passive funds for financial stability The conference sparked interactions and questions and follow-up events. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/paying-efficient-and-effective-markets |
| Description | Pedro Duarte Neves - Euro area financial stability in the Covid-10 recovery |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Pedro Duarte Neves gave a podcast on "Euro area financial stability in the Covid-10 recovery", at OMFIF Podcast, 22 June 2021 |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.omfif.org/podcast/euro-area-financial-stability-in-the-covid-19-recovery/ |
| Description | Pedro Duarte Neves - Financial stability outlook: global and European perspectives |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Just as economies and financial markets around the world were beginning to recover from the unprecedented Covid-19 shocks, fallout from the war in Ukraine has heightened global financial risk once again. How have the post-2008 financial crisis stability frameworks fared in response to these crises? Pedro Duarte Neves, adviser for the board of directors, Banco de Portugal, and Bill Papadakis, investment strategist for Lombard Odier's macro team, speak to Taylor Pearce, OMFIF economist, about the various facets of financial stability for the euro area and globally, including the risks associated with corporate debt levels, sustainability imperatives and non-bank financial institutions. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.omfif.org/podcast/financial-stability-outlook-global-and-european-perspectives/ |
| Description | Perspectives on Systemic Risk |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Systemic financial risk can be caused by many factors such as: financial decisions, legal and accounting rules, and politics. While all of these factors can on their own trigger systemic events, it is the interaction between them which is especially dangerous because it creates new avenues for vicious feedback loops. Unfortunately, these channels for systemic risk are usually studied within disciplinary silos, giving us a rather fragmented understanding of how systemic risk is created. The aim of the conference is to bring together speakers from accounting, economics, finance, law and political science to break down these silos and present a more complete analysis of the nature of systemic risk. The conference sparked questions and very interesting discussion. Stimulated lively discussion and enabled audience to exchange ideas. Video clips are on the Systemic Risk Centre Youtube channel which highlight a few opinions and can potentially reach a vast number of viewers. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/perspectives-systemic-risk |
| Description | PhD seminar at LSE - Olga Obizhaeva |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | The seminar generated questions and discussions. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Policy Responses to Banking Crises over the Longer Run |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | A presentation by Jeffrey Chwieroth and Andrew Walter (University of Melbourne). Paper presented at the annual meeting of the International Political Economy Society, Duke University, Durham, NC, 11 - 12 November 2016. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Political Economy of Macroprudential |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A presentation by Charles Goodhart at the National Institute of Economic and Social Research (NIESR) conference on "Financial Regulation" held at the Bank of England, London, on 18 March 2016. Since the global financial crisis, a number of regulatory policies have been discussed, proposed and sometimes implemented to address shortcomings in the regulatory framework. These include capital and liquidity regulation (notably via Basel III), developments in cross border bank resolution, macro-prudential policies and the issue of "too-big-to-fail". With contributions from some of the world's leading authorities on regulation, this conference will provide a critical overview of alternative measures and ask whether we are any closer to a financial system that is both appropriately stable and efficient in fulfilling its functions to the wider economy. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.niesr.ac.uk/events/financial-regulation-are-we-reaching-efficient-outcome#.WMkWvm_yiHs |
| Description | Political Economy of Systemic Risk |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Politics lies at the heart of systemic financial risk. It impacts its evolution in terms of financial decisions and market practices, its regulation via international rules and domestic priorities, and its resolution in accordance with and against core interests. This conference explores how key aspects of the political process fundamentally shape systemic risk in the financial system. It features cutting-edge research from a range of scholarly traditions examining the political economy of systemic risk. The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/political-economy-systemic-risk-0 |
| Description | Political economy of macroprudential (Charles Goodhart) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A video interview of Charles Goodhart was published in the VoxEu article "Financial regulation: Not yet an efficient outcome" by Angus Armstrong and Philip Davis. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://voxeu.org/article/financial-regulation-not-yet-efficient-outcome |
| Description | Political economy of systemic risk |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A conference on political economy of systemic risk, the politics of banking crises, and politics of financial stability and regulation Interaction with relevant academic audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/political-economy-systemic-risk |
| Description | Portfolio optimization under expected shortfall: contour maps of estimation error |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Contributed Talk on "Portfolio optimization under expected shortfall: contour maps of estimation error" given by Fabio Caccioli at the Conference on Complex Systems, Amsterdam (Netherlands), September 2016 |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.ccs2016.org/ |
| Description | Portfolio optimization under expected shortfall: contour maps of estimation error |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Contributed talk on "Portfolio optimization under expected shortfall: contour maps of estimation error" given by Fabio Caccioli at the Workshop on the Economic Science with Heterogeneous Interacting Agents (WEHIA) in Castellón (Spain) on 22-24 June 2016 |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://catedrabde.uji.es/wehia/index.html |
| Description | Presentation at LSE Executive Summer School |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Postgraduate students |
| Results and Impact | JP Zigrand presented work on systemic risk to participants at the LSE Executive Summer School in June 2014. The session generated questions and discussion. The session generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Presentation on Blockchain at Blockchain (R)evolution |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Presentation given by Tomaso Aste at Blockchain (R)evolution. The third edition of the Blockchain Workshops, a multi-disciplinary collaboration between leading academic and institutions that will convene a special group of stakeholders at the intersection of related disciplines to focus discussion on the high value application of blockchain technologies and implications for our global community, oversight regimes, economic infrastructure, and evolving social order. Hear from the leading developers, practictioners and innovators in the blockchain-related banking, social and academic ecosystems. |
| Year(s) Of Engagement Activity | 2015 |
| URL | https://www.eventbrite.com.au/e/blockchain-revolution-tickets-17074854349# |
| Description | Presentations on Blockchain at the QuanTech Conference: Distributed Ledger Technology |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Presentations on Blockchain by Tomaso Aste |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://docplayer.net/40705189-Quantech-conference-distributed-ledger-technology-grand-connaught-room... |
| Description | Pricing in a complex financial market: instability from local measures |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Invited talk by G Livan at the 4th SigmaPhi Conference on July 8, 2014 in Rhodes, Greece. The conference audience is mostly made of physicists working on complex systems (in physical and non-physical domains such as finance, biology, etc). The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Prime Broker-Level Comovement in Hedge Fund Returns: Information or Contagion? - seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | The seminar generated questions and discussions. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/seminars/byoung-uk-kang |
| Description | Procyclical Leverage and Endogenous Risk |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A seminar by JP Zigrand at the Macro seminar at Tilburg University, November 4th 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | https://www.tilburguniversity.edu/about/schools/economics-and-management/news/events/seminars/econom... |
| Description | Public Lecture: The Interplay of Markets and Politics |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The Systemic Risk Centre hosted a dialogue with Dr. Axel A. Weber, Group Chairman UBS & Former President of the Bundesbank, moderated by Lutfey Siddiqi, Visiting Professor-in-Practice, LSE. The Public Lecture was well attended and sparked much interest. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.systemicrisk.ac.uk/events/interplay-markets-and-politics-public-lecture |
| Description | Public lecture: Artificial Intelligence and Systemic Risk |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Lutfey Siddiqi (Visiting Professor-in-Practice, LSE Centre for International Studies) chaired a panel discussion consisting of Ken Benoit (Department of Methodology, LSE), Jon Danielsson (SRC, LSE) and Eva Micheler (LSE Law) With Artificial Intelligence overtaking human intelligence at driving cars and outplaying it at games, is the financial system next? Will AI stabilise or destabilise the financial system? Might AI even cause a systemic financial crisis? The panel generated a lot of thought-provoking discussion. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://systemicrisk.ac.uk/events/artificial-intelligence-and-systemic-risk |
| Description | Public lecture: Recent Developments in Turkey's Economy |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A public lecture on Recent Developments in Turkey's Economy was organised by SRC on 12th March 2019. Speaker: Selin Sayek Böke (Member of Turkish Parliament) Chair: Sergei Guriev (Chief Economist of the European Bank for Reconstruction and Development & Professor of Economics at Sciences Po) Organisers: Cevat Giray Aksoy (EBRD, LSE & IZA), Davide Luca (University of Cambridge, LSE & GSSI) and Orkun Saka (LSE & SRC) The lecture sparked interesting debates and discussions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/recent-developments-turkey%E2%80%99s-economy |
| Description | Public lecture: The Future of Money |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A public panel on The Future of Money was organised by SRC in November 2018. Chair: Sir Ross Cranston (Professor of Law, Department of Law, LSE) Panellists: Jon Danielsson (SRC, LSE Finance), Eva Micheler (SRC, LSE Law) and Nikola Tchouparov (Moneyfold Ltd) The panel sparked animated discussions and debate on relevant topics. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/events/future-money-public-lecture |
| Description | Public lecture: Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A public lecture on Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State was organised by SRC. Speaker: Paul Tucker (Harvard Kennedy School Fellow, Chair of the Systemic Risk Council) Chair: Prof. Charles Goodhart, FMG, LSE The talk sparked animated discussions. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/events/unelected-power-quest-legitimacy-central-banking-and-regulatory... |
| Description | Radio interview on Iceland's crisis (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed on Iceland's radio on the topic of Iceland's crisis. It sparked questions and discussion and raised the profile of our organisation. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.ruv.is/frett/eins-og-plastur-a-krabbamein |
| Description | Radio interview on crisis (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed on Iceland radio. It sparked questions and discussion afterwards and increased the profile of our organisation. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.visir.is/adgerdirnar-nidurlaegjandi-fyrir-grikki/article/2015150719707 |
| Description | Radio interview: Iceland Radio about central bank laws in Iceland (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson was interviewed in the radio programme Sprengisandur on the Bylgjan radio station. The interview sparked questions and discussions about proposed central bank laws in Iceland. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Ralph De Haas (EBRD) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | Seminar on 20th January 2020 Seminar Title: Finance and Carbon Emissions Abstract: We study the relation between financial structure and carbon emissions in a large panel of countries and industries. For given levels of economic and financial development, emissions per capita are lower in economies that are relatively more equity-funded. Industry-level analysis reveals two channels. First, deeper stock markets reallocate investment towards cleaner industries and, second, they allow carbon-intensive industries to produce green patents and reduce their energy intensity. Only one-tenth of these industry-level reductions in domestic emissions is offset by increased carbon embedded in imports. A firm-level analysis of an exogenous shock to the cost of equity in Belgium confirms our findings. The seminar sparked questions and discussions. |
| Year(s) Of Engagement Activity | 2020 |
| URL | http://www.systemicrisk.ac.uk/seminars/ralph-de-haas-0 |
| Description | Rebooting Financial Regulation: Ways and Means |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Date: 20th-21st January 2022, online Organisers: Kevin R. James (SRC/LSE), V. R. Narasimhan (NISM) Speakers: Peter Andrews (Oxera & SRC/LSE), Ajit Balakrishnan (Entrepreneur and columnist), Shri Ananta Barua (SEBI), Amil Dasgupta (LSE), Kevin James (SRC/LSE), Eva Micheler (SRC/LSE), C.K.G. Nair (NISM, FSLRC), M.S. Sahoo (IBBI) As India's Financial Sector Legislative Reform Commission (FSLRC) observes, avoiding a gap between the contemporary "requirements of the country and the present legal and regulatory arrangements" of the financial sector is crucial for economic success. In this conference we explored ways and means to reboot financial regulation to close this gap. On ways to improve financial regulation, we focused upon: i) redefining the objectives of financial regulation; ii) improving conduct regulation; iii) the impact of technology and financial regulation; iv) the issues posed by asset management and corporate governance; and v) legal methods to combat toxic culture in financial institutions. The conference examined key issues concerning the architecture of the regulatory system, drawing upon India's experience with the bold reform effort that the FSLRC began. The event sparked questions and discussions among the audience, and generated interests in the topic covered. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/events/rebooting-financial-regulation-ways-and-means |
| Description | Rebooting UK Financial Regulation for a Post-Brexit World |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Organisers: Peter Andrews (Oxera & SRC/LSE), Kevin James (SRC/LSE), Eva Micheler (SRC/LSE) Inspired by the Treasury's consultation on its Financial Services Future Regulatory Framework Review, the London School of Economics, Systemic Risk Centre and Oxera jointly held the online conference "Rebooting UK Financial Regulation for a Post-Brexit World". After kicking off with an overview of the implications of the UK's new regulatory relationship with the EU, the conference focused on the Review's three main topics: 1. Aligning Financial Regulation with Broader Public Policy Goals; 2. Improving Regulation of Specific Sectors in the New UK-Focussed Regime; and 3. Improving Regulatory Accountability. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/events/rebooting-uk-financial-regulation-post-brexit-world |
| Description | Recovery Costs from Systemic Risk Perspective |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by T Aste at ECCS14 European Conference on Complex Systems, GSS Session, 22-26 September 2014, Lucca, Italy. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Risk Landscape: Review 2020 & Preview 2021 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Speakers: Jon Danielsson (SRC/LSE), Peter Giger (Zurich Insurance), Mohit Joshi (Infosys), Grace Lordan (LSE Inclusion Initiative), Sneha Sanghvi (Westpac Banking Corporation) Chair: Lutfey Siddiqi (LSE & NUS RMI) Featuring C-suite and senior risk practitioners along with LSE's Jon Danielsson and Grace Lordan, this panel will take stock of the risk management challenges of 2020 and lessons learnt for the future. Are we framing and approaching risk in the right manner? What has worked and what has not in 2020? What are the practical challenges where the rubber hits the road, and what can academia help with? |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/events/risk-landscape-review-2020-preview-2021 |
| Description | Risk Landscape: Review 2021 & Preview 2022 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Speakers: Bilal Hafeez (Macro Hive), Dixit Joshi (Deutsche Bank AG), Neal Pollard (Ernst & Young), Huw van Steenis (UBS), Suprita Vohra (Barclays), Kathy Yuan (SRC/LSE), Jean-Pierre Zigrand (SRC/LSE) Chair: Lutfey Siddiqi (LSE & NUS RMI) In this panel discussion, leading risk practitioners from the global financial system will join LSE academics to take stock of the risk management challenges experienced in 2021 and lessons learnt going into 2022. Did we frame and approach risk in the right manner? What has worked and what has not in 2021? What is it that truly surprised us? What are some of the open questions that we are still grappling with, and academia can help with? The event sparked questions and discussions among the audience, and generated interests in the topic covered. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/events/risk-landscape-review-2021-preview-2022 |
| Description | Risk Landscape: Review 2022 & Preview 2023 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Date: Tuesday 29th November 2022 Time: 11.00am-12.30pm GMT Speakers: Jón Daníelsson (SRC/LSE), Gene Frieda (PIMCO), Virginie Maisonneuve (AllianzGI), Pamela Qiu (Control Risks) Chair: Lutfey Siddiqi (LSE & NUS RMI) In this panel discussion, leading risk practitioners from the global financial system will join LSE academics to take stock of the risk management challenges experienced in 2022 and lessons learnt going into 2023. Did we frame and approach risk in the right manner? What has worked and what has not in 2022? What is it that truly surprised us? What are some of the open questions that we are still grappling with, and academia can help with? The event was co-hosted with NUS Risk Management Institute |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/events/risk-landscape-review-2022-preview-2023 |
| Description | Risks, challenges and opportunities in increasingly complex, interconnected and fast markets |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | A talk by T Aste at the Practitioner Event Quant Invest 2014, 29-30 September 2014, London, UK. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Ron Anderson - Public address at Xinhua College of Sun Yat-sen University |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Undergraduate students |
| Results and Impact | This was public lecture organised by the Department of Finance and Trade of Xinhua College of Sun Yat-sen University. It attracted a large audience of undergraduate students, their teachers as well as some outsiders from the general public and press. The title of the talk I gave was "The Management of China's Debt Problem and Its Implication for Further Reforms". In this I tried to explain in plain language how China's response to the international financial crisis of 2008 mitigated the effects of global recession through major infrastructure investments. I tried to communicate how these actions had created new opportunities for development in China but at the same time created a debt problem which has constrained policy makers subsequently and which has inhibited the rebalancing of the Chinese economy toward greater private market provision of services and a reorientation trade. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Ron Anderson - Two interviews with CCTV, one in July 2020 and another in September 2020, concerning the implications of China's GDP growth |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Ron Anderson had two interviews with CCTV, one in July 2020 and another in September 2020, concerning the implications of China's GDP growth in Q2 and Q3 of 2020. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Ron Anderson give a public lecture at Xinhua College of Sun Yat-sen University, Guangzhou November 2018 "Understanding China's Evolving Credit Risk Maze" |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Undergraduate students |
| Results and Impact | This was a public address primarily aimed at undergraduate students but with some general public attending. There was media coverage by local press which in this case means coverage area of Guandong Province (90 million population). |
| Year(s) Of Engagement Activity | 2018 |
| Description | Ronald W Anderson Ma Yinchu Economics Lecture Peking University April 2, 2018 "Assessing China's Debt Overhang: Risks and Policy Responses" |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | This was a two hour public lecture which was broadcast over Peking University's television network live and then made available as a podcast. Withing about one week of the event the podcast had been accessed more than 130,000 times. |
| Year(s) Of Engagement Activity | 2018 |
| Description | Rosa - CNBC interview on European issues |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Brunello Rosa gave an interview with CNBC on 6th February 2019 and discussed European issues ahead of the May 2019 elections and Italy's third recession since 2008. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.cnbc.com/video/2019/02/06/euro-zone-could-face-recession-in-2020-analyst-says.html |
| Description | Rosa - Chatham House article "Italy thumbs its nose at EU" |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Brunello Rosa is the author of "Italy thumbs its nose at EU" in the Chatham House The World Today published in the April/May 2018 issue. He warns that Election will have repercussions for Europe. The piece sparks thoughts and discussion afterwards. |
| Year(s) Of Engagement Activity | 2018 |
| URL | https://www.chathamhouse.org/publications/twt/italy-thumbs-its-nose-eu |
| Description | Rosa - Financial crisis opinion piece |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Opinion piece "The Makings of a 2020 Recession and Financial Crisis" by N Roubini and Brunello Rosa on 13 Sept 2018. Although the global economy has been undergoing a sustained period of synchronized growth, it will inevitably lose steam as unsustainable fiscal policies in the US start to phase out. Come 2020, the stage will be set for another downturn - and, unlike in 2008, governments will lack the policy tools to manage it. It sparked discussion and thoughts afterwards. |
| Year(s) Of Engagement Activity | 2018 |
| URL | https://www.project-syndicate.org/commentary/financial-crisis-in-2020-worse-than-2008-by-nouriel-rou... |
| Description | Rosa - TALENTED ITALIANS in THE UK at the Italian Chamber of Commerce and Industry for the UK |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Brunello Rosa participated in the formal working group "TALENTED ITALIANS in THE UK at the Italian Chamber of Commerce and Industry for the UK". The TIUKA's Members are Italians of success who want to give their contribution to strengthen further the relation of the Italian Community with Italy and the UK. The Association aims to maintain a link between the UK and Italy, collaborating with the other existing Anglo-Italian organisations with similar goals. |
| Year(s) Of Engagement Activity | 2018 |
| URL | https://www.italchamind.eu/tiuk_association/tiuk-association |
| Description | Rosa - media interview with Russia Today on global crisis |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Brunello Rosa gave an interview with RT in October 2018. The Americans in general and the Trump administration in particular are never shy of extolling their economic achievements and not without merit - the American economy of late has indeed been looking great. But there's an increasing number of economists who claim this boom may be short-lived and is setting the stage for yet another global crisis. If the fall indeed comes, how hard is it likely to be? To discuss this, Oksana is joined by Brunello Rosa, founder and CEO at Rosa & Roubini Associates. |
| Year(s) Of Engagement Activity | 2018 |
| URL | https://www.youtube.com/watch?v=rSTgHcAbbm4 |
| Description | Rosa - regular newsletters "Making Sense of this World" |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Brunello Rosa is a regular contributor to the newsletter "Making sense of this world". The pieces spark thoughts and discussion afterwards. |
| Year(s) Of Engagement Activity | 2018,2019 |
| URL | https://content.rosa-roubini-associates.com/making-sense-of-this-world-archive/ |
| Description | Roundtable: Systemic Risk at LSE |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Event for Centre partners, discussing the four pillars of the Centre, and the main challenges in systemic risk. Shaping research agenda and liaison with stakeholders |
| Year(s) Of Engagement Activity | 2012 |
| URL | http://www.systemicrisk.ac.uk/events/roundtable-and-reception |
| Description | Russian Business Week, LSE - Olga Obizhaeva |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Olga Obizhaeva chaired a session at the 2017 Russian Business Week, LSE. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Rzayev - Report "Factors influencing the decline in the number of public companies in the UK" featured in Bloomberg |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | The Report "Factors influencing the decline in the number of public companies in the UK" featured in Bloomberg article "London Is Losing the SPAC Fight With New York" published in February 2021. The article reported that Rzayev et al's paper was illuminating in detailing some of the reasons for the U.K. stock market's shrinkage. One big problem is that the technology investor and analyst universe is not so well developed as elsewhere. A high-tech company may therefore feel it's going to be better understood in, say, the U.S., leading to a higher valuation. It may also reckon that investors there will be more constructively engaged. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.bloombergquint.com/gadfly/london-is-losing-the-spac-fight-with-new-york |
| Description | SCITEB workshop on Financial System Stability |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Jean-Pierre Zigrand participated in the SCITEB workshop with the objective to develop new understanding of scientific, economic and regulatory approaches to financial system resilience through a global collaboration between academics, regulators, investors and practitioners. The group aim to develop new and applied theoretical frameworks in engagement with deep practical problems. The workshop sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Saka - How state-owned banks in Turkey support the ruling party |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Blog post on LSE European Politics and Policy blog. How state-owned banks in Turkey support the ruling party by Çagatay Bircan and Orkun Saka. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Samfélagið vill banka |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Newspaper article in Icelandic main paper (Morguunbladid) interviewing Jon Danielsson Dissemination to the general public |
| Year(s) Of Engagement Activity | 2014 |
| Description | Santiago Finance Workshop 2021 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Marcela Valenzuela was part of the organizing committee of the Santiago Finance Workshop 2021, which was a two-day academic event hosted by the University of Chile. The aim of the SFW is to bring together international scholars and policymakers to Chile to discuss cutting-edge research in all areas of finance and financial economics, with special emphasis on capital markets and corporate finance. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://sfw.fen.uchile.cl/sfw/ |
| Description | Schumpeter, Minsky, and the FCA: Exploring the links between financial regulation, growth, and stability |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | The conference had a particular focus on: • Corporate governance, regulation, and economic performance • The Minsky hypothesis • Asset management and financial stability Ross Levine (UC Berkeley) delivered the keynote address on "Regulating for Prosperity". Other speakers included Colin Mayer (Oxford), Youfei Xiao (Duke), and Kevin James (FCA/LSE) on corporate governance, Jon Danielsson (LSE) and Isabelle Roland (LSE) on the Minsky hypothesis, Yuliya Baranova (Bank of England), Luis Brandao (IMF) and Robert Taylor (FCA) on asset management and financial stability, Cindy Alexander (SEC) on the value of securities regulation, and Peter Rousseau (Vanderbilt) on a key 19th century episode of regulating for prosperity. The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.systemicrisk.ac.uk/events/schumpeter-minsky-and-fca-exploring-links-between-financial-reg... |
| Description | Seminar Liquidity, Government Bonds and Sovereign Debt Crises Francesco Molteni |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/seminars/francesco-molteni |
| Description | Seminar - Adrian Alter (IMF) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Abstract: This paper studies the US housing market using a proprietary and comprehensive dataset covering nearly 90 million residential transactions over 1998-2018. First, we document the evolution of different types of investment purchases such as those conducted by short-term buyers, out-of-state buyers, and corporate cash investors. Second, we quantify the contributions of non-primary home buyers to the housing cycle. Our findings suggest that the share of short- term investors grew substantially in the run-up to the global financial crisis (GFC), which amplified the boom-bust cycle, while out-of-state buyers propped up prices in some areas during the recession. An instrumental variable approach is employed to establish a causal relationship between housing investors and prices. Finally, we show that the recent rise of shadow bank lending in the residential market is associated with riskier mortgages, and explore its implications for non-primary home buyers and its effects on house prices and rents. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/seminars/non-primary-home-buyers-shadow-banking-and-us-housing-market |
| Description | Seminar - Ambrogio Cesa-Bianchi |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | A seminar was given by Ambrogio Cesa-Bianchi in October 2018 Speaker: Ambrogio Cesa-Bianchi (Bank of England) Seminar Title: Firm Heterogeneity, Credit Spreads, and Monetary Policy The seminar sparked thoughts and discussions. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/seminars/ambrogio-cesa-bianchi |
| Description | Seminar - Andreas Uthemann (Bank of Canada & SRC) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Seminar Title: The Calming of Short-Term Market Fears and Its Long-Term Consequences: The Federal Reserve's Reaction to COVID-19 Abstract: We study the impact of five key Fed policy responses to the COVID-19 crisis on the stock market's fear of loss and fear of variability. Using a unique global dataset of option prices to construct the term structures of fear, up to ten years into the future, we find that FX swap lines have the most decisive impact on market fear, but only on the US and countries with access to the swaps. Liquidity support and macroprudential policies had a smaller but still significant impact, while policies aimed to support the wider economy did not affect fear. These results raise important questions on the trade-off between short-term market calming and long-term moral hazard, as well as the relative importance of central banks, and the importance of the Federal Reserve as a global liquidity provider. The seminar sparked questions and discussions afterwards. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/seminars/calming-short-term-market-fears-and-its-long-term-consequenc... |
| Description | Seminar - André F. Silva (Federal Reserve Board) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Abstract: We document the propagation effects through supply chains of the most damaging cyberattack in history and the important role of banks in mitigating its impact. Customers of directly hit firms saw reductions in revenues, profitability, and trade credit relative to similar firms. The losses were larger for customers with fewer alternative suppliers and suppliers producing high-specificity inputs. Internal liquidity buffers and increased borrowing, mainly through bank credit lines at higher rates due to increased risk, helped affected customers to maintain investment and employment. However, the shock led to persisting adjustments to the supply chain network. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/seminars/pirates-without-borders-propagation-cyberattacks-through-fir... |
| Description | Seminar - Angela Gallo |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | A seminar was given by Angela Gallo in February 2019. Speaker: Angela Gallo (Cass Business School) Seminar Title: Beyond Regulatory Arbitrage: Novel Evidence on ABCP Market The seminar sparked thoughts and discussions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/seminars/angela-gallo |
| Description | Seminar - Arie Gozluklu (Warwick Business School) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 6th June 2022 Time: 1.00 - 2.00pm BST Speaker: Arie Gozluklu (Warwick Business School) Seminar title: Speculator Spreading Pressure and the Commodity Futures Risk Premium Abstract: This paper investigates the impact of speculative trading on the commodity futures risk premium. We focus on speculators' intra-commodity spread positions, and study the asset pricing implications of spreading pressure (SP), that is, spread positions scaled by open interest, on the cross-section of commodity futures returns. We document that SP negatively predicts futures excess returns. We propose a SP factor, a long-short portfolio based on SP that is priced in the commodity futures market, even after controlling for well-known factors. Our empirical tests show that the SP factor is linked to informational frictions that are introduced via commodity index investments. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/seminars/speculator-spreading-pressure-and-commodity-futures-risk-pre... |
| Description | Seminar - Bige Kahraman Alper (Saïd Business School Oxford) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 29th November 2021 Time: 1.00 - 2.00pm GMT Speaker: Bige Kahraman Alper (Saïd Business School Oxford) Seminar Title: ES Risks and Shareholder Voice Abstract: While shareholder proposals related to ES issues nearly always fail, we show that investors' support for these proposals contains information regarding future risks that firms face. Support levels are informative regarding the probability of negative tail returns that stem from future ES incidents. Examining the economic channels underlying this finding, we find that agency frictions contribute to proposal failure, leading to predictable tail events. Contrasting ES versus non-ES failed proposals within the same firm, we find that predictability is unique to ES initiatives; this is consistent with higher uncertainty regarding the value of ES initiatives exacerbating agency frictions. The event sparked questions and discussions among the audience, and generated interests in the topics covered. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/seminars/es-risks-and-shareholder-voice |
| Description | Seminar - Christophe Perignon |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | Christophe Perignon gave a seminar on Pitfalls in Systemic-Risk Scoring in SRC. The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://systemicrisk.ac.uk/seminars/christophe-perignon |
| Description | Seminar - Daniel Beunza (Cass Business School) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Abstract: The unexpected ability of banks and markets to continue operating through the COVID-19 crisis has sparked renewed interest in the role of technology in organizational resilience. Existing organizational studies, however, have emphasized the role of compassion, sensemaking and managerial narratives, but have largely neglected integrating technology in them. Based on an ethnographic revisit of a Wall Street bank's response to 9/11, we propose an integrative model of organizational recovery as the iterative restoration of meaning and technology in ways that support each other. Our process model offers guidelines for managers leading banks and financial institutions towards a "new normal." First, a resilient response entails updating recovery narratives, from alleviating employee distress, to rebuilding operational capacity, to creating a compelling direction for the organization. Second, shaping the organization's long-term future requires managers to integrate the structural effects of new technology in their plans, including its mediating effect on roles and scripts. Third, recovery reopens political debates in the organization, and managers can shape their outcome through the timing of their decisions. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/seminars/purpose-built-integrating-meaning-and-technology-banks-recov... |
| Description | Seminar - Did the Basel Process of Capital Regulation Enhance the Resiliency of European Banks? by Thomas Gehrig |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.systemicrisk.ac.uk/seminars/thomas-gehrig |
| Description | Seminar - Elise Gourier |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | A seminar was given by Elise Gourier in June 2018. Speaker: Elise Gourier (Queen Mary University of London) Seminar Title: How Alternative Are Alternative Investments? The Case of Private Equity Funds The seminar sparked thoughts and discussions. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/seminars/elise-gourier |
| Description | Seminar - Elise Payzan-LeNestour |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | A seminar was given by Elise Payzan-LeNestour in April 2018. Speaker: Elise Payzan-LeNestour (UNSW Australia Business School) Seminar Title: The Waterfall Illusion, and How Prior Exposure to Extreme Risk Distorts Risk Perception The seminar sparked thoughts and discussions. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/seminars/elise-payzan-lenestour |
| Description | Seminar - Emil Verner (MIT Sloan) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Abstract: We examine historical banking crises through the lens of bank equity declines, which cover a broad sample of episodes of banking distress both with and without banking panics. To do this, we construct a new dataset on bank equity returns and narrative information on banking panics for 46 countries over the period 1870- 2016. We find that even in the absence of panics, large bank equity declines are associated with substantial credit contractions and output gaps. While panics can be an important amplification mechanism, our results indicate that panics are not necessary for banking crises to have severe economic consequences. Furthermore, panics tend to be preceded by large bank equity declines, suggesting that panics are the result, rather than the cause, of earlier bank losses. We also use bank equity returns to uncover a number of forgotten historical banking crises and to create a banking crisis chronology that distinguishes between bank equity losses and panics. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/seminars/banking-crises-without-panics |
| Description | Seminar - Emmanouil Karimalis |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | Emmanouil Karimalis gave a seminar on Multi yield curve stress-testing framework incorporating temporal and cross tenor structural dependencies in SRC. The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://systemicrisk.ac.uk/seminars/emmanouil-karimalis |
| Description | Seminar - Gianluca Benigno (University of Lausanne and Federal Reserve Bank of New York) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 21st November 2022 Time: 1.00 - 2.00pm GMT Venue: Room 1.06, The Conference Room, 1st floor, Marshall Building (map) Speaker: Gianluca Benigno (University of Lausanne and Federal Reserve Bank of New York) Seminar title: The Financial (In)Stability Real Interest Rate, R** Abstract: We introduce the concept of financial stability real interest rate using a macroeconomic banking model with an occasionally binding financing constraint as in Gertler and Kiyotaki (2010). The financial stability interest rate, r**, is the threshold interest rate that triggers the constraint being binding. We discuss r** and its dynamics, and show that persistently low real rates induce an increase in financial vulnerabilities and a consequent decline in the level of r**. We also provide a measure of r** for the US economy and discuss its evolution over the past 50 years, highlighting that during periods of financial stress that are associated with a decline in r** , the real rate tracks r** - a feature of monetary policy known as "Greenspan's put". |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/seminars/financial-instability-real-interest-rate-r |
| Description | Seminar - Giovanni Calice |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | A seminar was given by Giovanni Calice in December 2018. Speaker: Giovanni Calice (Loughborough University) Seminar Title: The Term Structure of Sovereign CDS and the Cross-Section of Exchange Rate Predictability The seminar sparked thoughts and discussions. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/seminars/giovanni-calice |
| Description | Seminar - H. Peyton Young |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | H. Peyton Young gave a seminar on Modelling Contagion in Financial Networks: The Credit Default Swaps Market in SRC. The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://systemicrisk.ac.uk/seminars/h-peyton-young-lse-and-university-oxford |
| Description | Seminar - Ian Dew-Becker (Kellogg School of Management) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 5th December 2022 Time: 1.00 - 2.00pm GMT Speaker: Ian Dew-Becker (Kellogg School of Management) Seminar title: Risk preferences implied by synthetic options Abstract: A large literature finds that equity index options are overpriced in the historical data (starting in the 1980s), earning low returns and strongly negative alphas. In a representative agent framework, that fact implies that marginal utility is convex relative to stock market wealth - risk aversion rises as wealth falls. This paper provides novel evidence on risk aversion and the shape of marginal utility using nearly a century of data on synthetic options, constructed from dynamic portfolios of the market and the riskless asset. In contrast to exchange-traded options, synthetic options show no evidence of overpricing (i.e., of negative alpha), and, therefore, no evidence of risk aversion rising as wealth falls. The divergence in results between listed and synthetic options can be explained by segmentation in the derivatives market, due to regulatory constraints and illiquidity. As those constraints have relaxed in the past 10-20 years, the returns on listed options have converged to those on synthetic options. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/seminars/risk-preferences-implied-synthetic-options |
| Description | Seminar - Jeremy Barnett |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | Jeremy Barnett is a practising Barrister, Recorder and director of Resilience Partners Limited. He is a Director of the Construction Blockchain Consortium (CBC) at UCL and has conducted research into algorithmic dispute resolution and the law of algorithms over a number of years. For 5 years he was the visiting professor of Law Informatics at Leeds University where he lead the Court 21 project, a research group in virtual courts. He gave a seminar on Algorithms and the Law at the SRC. The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://systemicrisk.ac.uk/seminars/jeremy-barnett |
| Description | Seminar - Jialan Wang (University of Illinois at Urbana-Champaign) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Abstract: We examine the impact of the COVID-19 economic crisis on business and consumer bankruptcies in the United States using real-time data on the universe of filings. Historically, bankruptcies have closely tracked the business cycle and contemporaneous unemployment rates. However, this relationship has reversed during the COVID-19 crisis thus far. While aggregate filing rates were very similar to 2019 levels prior to the severe onset of the pandemic, filings by consumers and small businesses dropped dramatically starting in mid-March, contrary to media reports and many experts' expectations. The total number of bankruptcy filings is down by 27 percent year-over-year between January and August. Consumer and business Chapter 7 filings rebounded moderately starting in mid-April and stabilized around 20 percent below 2019 levels, but Chapter 13 filings remained at 55-65 percent below 2019 levels through the end of August. In contrast to the 2007-9 recession, states with a larger increase in unemployment between April and July experienced greater drops in bankruptcies. Although they make up a small share of overall bankruptcies, Chapter 11 filings by large corporations have increased since 2019, and are up nearly 200 percent year-over-year from January through August. These patterns suggest that the financial experiences of consumers, small businesses, and large corporations have diverged during the COVID-19 crisis. Large businesses have continued to seek and receive relief from the bankruptcy system as they would during a normal recession, and relatively wealthy homeowners have on average benefited from the fiscal stimulus and housing moratoria mandated by the CARES Act and other policies. However, non-homeowners and small businesses may face financial, physical, and technological barriers to accessing the bankruptcy system, especially in the areas hardest-hit by unemployment. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/seminars/bankruptcy-and-covid-19-crisis |
| Description | Seminar - Jorge Cruz Lopez |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | Jorge Cruz Lopez gave a seminar on Residual Risk and Default Waterfalls in Central Counterparties in SRC. The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://systemicrisk.ac.uk/seminars/jorge-cruz-lopez |
| Description | Seminar - José Scheinkman (Columbia) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Tuesday, 10th May 2022 Time: 1.00 - 2.00pm BST Venue: Marshall Building, LSE (map) Speaker: José Scheinkman (Columbia) Seminar title: Optimal forest preservation over time and space in the Brazilian Amazon |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/seminars/optimal-forest-preservation-over-time-and-space-brazilian-am... |
| Description | Seminar - Loriana Pelizzon (Goethe University Frankfurt) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 28th February 2022 Time: 1.00 - 2.00pm GMT Speaker: Loriana Pelizzon (Goethe University Frankfurt) Seminar Title: The Carrot and the Stick: Bank Bailouts and the Disciplining Role of Board Appointments Abstract: This paper empirically examines the Capital Purchase program (CPP) under TARP that was used by the U.S. government to bail out distressed banks with equity infusions. We hypothesize that a feature of the CPP, namely the ability of the government to appoint directors on the assisted bank's board in case it missed six quarterly dividend payments, was a governance intrusion that banks would wish to avoid. Therefore, it would address both (i) the ex ante moral hazard that banks would take actions that increased the likelihood of a future government bailout as well as (ii) the ex post moral hazard that banks would undertake actions after receiving bailout funding that would increase the government's risk exposure. We find evidence consistent with this hypothesis: in the empirical distribution of missed payments there is a sharp discontinuity at five and the probability of a sixth missed payment after missing five payments is sharply lower than the other transition probabilities. The appointment of government directors improves the bank's profitability and reduces its risk. As a special case, the firing of Citicorp's CEO in the third quarter of 2012 after the appointment of new directors on its board, pursuant to government participation in its common equity, induced a sharp exodus of assisted banks from the CPP. The event sparked questions and discussions among the audience, and generated interests in the topics covered. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/seminars/carrot-and-stick-bank-bailouts-and-disciplining-role-board-a... |
| Description | Seminar - Luc Laeven (European Central Bank) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 14th March 2022 Time: 1.00 - 2.00pm GMT Speaker: Luc Laeven (European Central Bank) Seminar Title: Systemic Risk and Monetary Policy: The Haircut Gap Channel of the Lender of Last Resort Abstract: We show that lender of the last resort (LOLR) policy contributes to higher bank interconnectedness and systemic risk. Using novel micro-level data, we analyze the haircut gap channel of LOLR - the difference between the private market and central bank haircuts. LOLR increases interconnectedness by incentivizing banks to pledge higher haircut gap bonds, especially issued by similar banks and by systemically important banks. LOLR also exacerbates cross-pledging of bank bonds. Higher haircut gaps only incentivize banks, not other intermediaries without LOLR access, to increase bank bond holdings. Finally, LOLR revives bank bond issuance associated with higher haircut gaps. The event sparked questions and discussions among the audience, and generated interests in the topics covered. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/seminars/systemic-risk-and-monetary-policy |
| Description | Seminar - Luitgard A. M. Veraart |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Postgraduate students |
| Results and Impact | Luitgard A. M. Veraart gave a seminar on Distress and default contagion in financial networks in SRC. The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://systemicrisk.ac.uk/seminars/luitgard-m-veraart |
| Description | Seminar - Marcin Kacperczyk (Imperial College London) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 24th January 2022 Time: 1.00 - 2.00pm GMT Speaker: Marcin Kacperczyk (Imperial College London) Seminar Title: Carbon Emissions and the Bank-Lending Channel Abstract: We study how firm-level carbon emissions affect bank lending and, through this channel, real, financial, and environmental outcomes in a sample of global firms with syndicated loans. For identification, we use bank-level commitments to carbon neutrality to proxy for changes in banks' green preferences and, via these bank commitments, shocks to firms with previous credit from these banks. We find that firms with higher (lower) scope-1 emission levels previously borrowing from banks making commitments subsequently receive less (more) total bank credit. The economic mechanism at play is bank credit supply, and results are consistent with bank preferences for green rather than differential response to an increased firm risk. The reduction in bank lending to brown firms triggers the reduction in these firms' total debt, leverage, total assets, and real investments. The effects are non-linear, with a strong cut (increase) in lending and investments for brown (green) firms, and mild effects for other firms. Despite the real and financial effects, we find no improvement in hard firm-level environmental scores for brown firms, but only evidence consistent with firms' greenwashing. Overall, our results suggest that banks affect carbon emissions via credit reallocation (from brown to green firms) rather than via providing loans to brown firms for the investment necessary to reduce carbon emissions. The event sparked questions and discussions among the audience, and generated interests in the topics covered. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/seminars/carbon-emissions-and-bank-lending-channel |
| Description | Seminar - Mariassunta Giannetti (SSE) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Seminar Title: Who Lends Before Banking Crises? Evidence from the International Syndicated Loan Market Abstract: We show that foreign lenders and low market share lenders extend more credit in comparison to other lenders during lending booms leading to banking crises, but not during other credit expansions. Less established lenders also increase the amount of credit they extend to riskier borrowers without asking for collateral or imposing covenants and higher interest rates. Our results suggest that taking lenders' characteristics into account could provide a useful barometer for macroprudential policies. The seminar sparked questions and discussion afterwards. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/seminars/Mariassunta-Giannetti |
| Description | Seminar - Martin Scheicher |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | A seminar was given by Martin Scheicher in November 2018. Speaker: Martin Scheicher (European Central Bank) Seminar Title: The Anatomy of the Euro Area Interest Rate Swap Market The seminar sparked thoughts and discussions. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/seminars/martin-scheicher |
| Description | Seminar - Orkun Saka (University of Sussex) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Abstract: Very few papers in the literature have focused on what drives actual government policies after financial crises. We first present a simple model of post-crisis policymaking driven by both public and private interests. Using the most comprehensive dataset available on de-facto financial liberalization across 94 countries between 1973 and 2015, we show that financial crises can trigger policy reversals, i.e. they can lead to more government intervention and a process of re-regulation of financial markets. We also find that post-crisis interventions are common only in democratic countries suggesting a demand channel from public to policymakers. However, by using a plausibly exogenous political setting muting policymakers' accountability, we document that democratic leaders who do not have re-election concerns are substantially more likely to intervene in financial markets after crises (but not before), implying that strong private interests are also at play. These interventions due to private interests are reflected especially in controversial policy areas such as interest rate controls or bank entry barriers and not in areas such as banking supervision or capital controls that are usually considered as more aligned with public interest. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/seminars/financial-policymaking-after-crises-public-vs-private-intere... |
| Description | Seminar - Pasquale Della Corte (Imperial College London) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 8th November 2021 Time: 1.00 - 2.00pm GMT Speaker: Pasquale Della Corte (Imperial College London) Seminar Title: Best Short Abstract: We infer investors' expectations about future stock returns through a measure of short conviction that exploits net short positions disclosed at the investor-stock level for European stock markets. A strategy that sells high-conviction stocks and buys low-conviction stocks, named Best Short, generates a risk-adjusted excess return that is larger than 8% per annum and differs from the performance of traditional strategies based on aggregate short interest. Its profitability, moreover, cannot be explained by transaction costs, stock characteristics, frictions in the securities lending market, leverage constraints, and measures of price inefficiency. The event sparked questions and discussions among the audience, and generated interests in the topics covered. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/seminars/best-short |
| Description | Seminar - Pingle Wang (University of Texas at Dallas) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 31st October 2022 Time: 1.00 - 2.00pm GMT Speaker: Pingle Wang (University of Texas at Dallas) Seminar title: Unmasking mutual fund derivative use Abstract: Using new SEC data, we study how funds use derivatives and how derivatives contribute to performance. Despite small portfolio weights, derivatives significantly impact funds' leverage and contribute largely to returns. Contrary to prior research concluding derivatives are used for hedging, we find most derivative users buy index derivatives to amplify market exposure. Surprisingly, they underperform nonusers yet receive more flows. Using COVID-19 pandemic as a shock to evaluate explanations, we find they suffered a double whammy: failed to outperform nonusers by suffering losses from long derivative positions during the crash and from newly opened short positions when markets unexpectedly rebounded. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/seminars/unmasking-mutual-fund-derivative-use |
| Description | Seminar - Roberto Gomez Cram (London Business School) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Abstract: We advance the hypothesis and establish empirically that investors' expectations adjust slowly to Central Banks' messages. From the videos of post-FOMC-meeting press conferences, we extract the words, and timestamp them at the millisecond. We align the transcripts with high-frequency data for several financial assets to provide granular evidence on the investors' expectations formation process. When the Chairman discusses the changes between current and previous policy statement, price volatility and trading volume spike dramatically, and prices move in the same direction as they did around the statement release. Our approach allows us to quantify in monetary terms the value of information rigidity. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/seminars/real-time-price-discovery-verbal-communication-method-and-ap... |
| Description | Seminar - Shaojun Zhang (The Ohio State University) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 27th February 2023 Time: 1.00 - 2.00pm GMT Speaker: Shaojun Zhang (The Ohio State University) Seminar title: Carbon Premium: Is It There? Abstract: The carbon premium refers to the excess return associated with the carbon-brown firms and is the focus of several recent influential studies. After accounting for the data release lag and with value weighting, less carbon-intensive firms deliver higher returns in the U.S., while there is no excess return associated with total carbon emissions and emission growth. Internationally, the carbon return is zero on average and is lower in countries with strong in-sample green shocks during the transition, such as sustainable flows and climate concerns. After controlling for the in-sample shocks, the carbon return is higher in countries more exposed to climate change. |
| Year(s) Of Engagement Activity | 2023 |
| URL | https://www.systemicrisk.ac.uk/seminars/carbon-premium-it-there |
| Description | Seminar - Stefano Ramelli (University of Zurich) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 14th June 2021 Time: 1.00 - 2.00pm BST Speaker: Stefano Ramelli (University of Zurich) Seminar Title: Do Institutional Investors Stabilize Equity Markets in Crisis Periods? Evidence from COVID-19 Abstract: During the COVID-19 market crash, U.S. stocks with higher and more active institutional ownership performed worse. The effect was stronger when institutional investors experienced larger client outflows and held more financially exposed portfolios. This relation holds even when controlling for changes in analysts' earnings forecasts, suggesting that stocks held more by institutions exhibited a larger wedge between stock price drops and firm fundamentals. Portfolio changes through the first quarter of 2020 reveal that institutional investors prioritized corporate financial strength over "soft" environmental and social performance. Trading data from a large discount brokerage (Robinhood) confirm that retail investors acted as liquidity providers. Overall, the results suggest that when a tail risk realizes, institutional investors amplify price crashes by fire-selling and seeking shelter in "hard" measures of firm resilience. The event sparked questions and discussions among the audience, and generated interests in the topics covered. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/seminars/do-institutional-investors-stabilize-equity-markets-crisis-p... |
| Description | Seminar - Steven Heston (University of Maryland) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 21st March 2022 Time: 1.00 - 2.00pm GMT Venue: Room 1.06, The Marshall Building, LSE (map) or online via Zoom Speaker: Steven Heston (University of Maryland) Seminar Topic: Seasonal Momentum in Variance Risk Premia Abstract: This paper proposes a new approach for implementing "equity VIX portfolios'' in settings where the number of traded options is limited. The resulting values are the prices of portfolios designed to best replicate the payoffs of variance swaps, and they are also interpretable as implied variances. We show that our approach outperforms other methods, such as the CBOE's own VIX formula, both in artificial and actual data. Using these portfolios, we document seasonal momentum in option returns, the tendency of stocks whose options performed well at periodic lags to continue their good performance in the future. A long-short portfolio based on seasonal momentum achieves a pre-cost Sharpe ratio of 3.05 annualized. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/seminars/seasonal-momentum-variance-risk-premia |
| Description | Seminar - Strategic Default in Financial Networks by Nizar Allouch |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.systemicrisk.ac.uk/seminars/nizar-allouch |
| Description | Seminar - The Information Content of Dividends: Safer Profits, not Higher Profits by Stefano Rossi |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.systemicrisk.ac.uk/seminars/stefano-rossi |
| Description | Seminar - Thomas Gehrig (University of Vienna) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Seminar Title: Speculative and Precautionary Demand for Liquidity in Competitive Banking Markets Abstract: We demonstrate that the co-existence of different motives for liquidity preferences profoundly affects the efficiency of financial intermediation. Liquidity preferences arise because consumers wish to take precautions against sudden and unforeseen expenditure needs, and because investors want to speculate on future investment opportunities. Without further frictions, the co-existence of these motives enables banks to gain efficiencies from combining liquidity insurance and credit intermediation. With standard financial frictions, banks cannot reap such economies of scope. Indeed, the co-existence of a precautionary and a speculative motive can cause efficiency losses which would not occur if there were only a single motive. Specifically, if the arrival of profitable future investment opportunities is sufficiently likely, such co-existence implies inefficient separation, pooling, or even non-existence of pure strategy equilibria. This suggests that policy implications derived solely from a single motive for liquidity demand can be futile. The seminar sparked questions and discussions. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/seminars/speculative-and-precautionary-demand-liquidity-competitive-b... |
| Description | Seminar - Umberto Cherubini |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | A seminar was given by Umberto Cherubini in March 2019. Speaker: Umberto Cherubini (Università Di Bologna) Seminar Title: Credit Indexes and Simultaneous Defaults The seminar sparked thoughts and discussions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/seminars/umberto-cherubini |
| Description | Seminar - Valeri Sokolovski (HEC Montréal) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 23rd May 2022 Time: 1.00 - 2.00pm BST Speaker: Valeri Sokolovski (HEC Montréal) Seminar title: Hedge Funds and Financial Intermediaries (co-authored with Magnus Dahlquist, Simon Rottke and Erik Sverdrup) Abstract: Hedge funds and financial intermediaries are connected through their prime brokerage relationship. We find that systematic financial intermediary risk is important for understanding the cross-section of hedge fund returns. We show that systematic shocks propagate from prime brokers to hedge funds and not the reverse. There is little evidence that idiosyncratic financial intermediary risk matters. We evaluate if large adverse shocks to individual prime brokers propagate to their clients, finding a significant impact only in the Lehman bankruptcy case. This impact, however, was mitigated for funds with multiple prime brokers, suggesting that even extreme prime broker shocks are diversifiable. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/seminars/hedge-funds-and-financial-intermediaries |
| Description | Seminar - Vasso Ioannidou (Bayes Business School) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 27th September 2021 Time: 1.00 - 2.00pm BST Speaker: Vasso Ioannidou (Bayes Business School) Seminar Title: Do Low Interest Rates Jeopardise Your Retirement? Abstract: We study the effect changes in interest rates have on the risk-taking and risk-shifting incentives of defined-benefit (DB) corporate pension plans. We find that in the era of low interest rates, pension plans' risk-taking incentives become dominant. Using a difference-in-differences analysis based on an exogenous shock to the discount rates of pension liabilities in the United States (MAP-21), we find that increases in interest rates reduce risk-taking in pension asset allocations. We also find that increases in interest rates decrease the probability of DB plan freezes, which shift pension risk from sponsor firms to employees. These results underscore possible unintended consequences of low interest rate policies. The event sparked questions and discussions among the audience, and generated interests in the topics covered. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.systemicrisk.ac.uk/seminars/do-low-interest-rates-jeopardise-your-retirement |
| Description | Seminar - Xiao Xiao (Bayes Business School) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | Date: Monday, 13th March 2023 Time: 1.00 - 2.00pm GMT Venue: Room 1.06, The Conference Room, 1st floor, Marshall Building (map) Speaker: Xiao Xiao (Bayes Business School) Seminar title: Signed Option Trading and Stock Market Anomalies Abstract: This paper examines how options traders trade daily stock market mispricing measured by short-term past return and put-call option volatility spread. Anomaly return is 7.31 basis points per day when customer option traders trade along with the anomaly signal and is insignificant when they trade against it. This effect is more pronounced for out-of-money options. Copycat trades by other institutional investors and delta-hedging trades by option market makers help the correction of mispricing. |
| Year(s) Of Engagement Activity | 2023 |
| URL | https://www.systemicrisk.ac.uk/seminars/signed-option-trading-and-stock-market-anomalies |
| Description | Seminar - Yi Huang |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Study participants or study members |
| Results and Impact | A seminar was given by Yi Huang in March 2018. Speaker: Yi Huang (The Graduate Institute of International and Development Studies) Seminar Title: TechFin in China: Credit Market Completion and its Growth Effect The seminar sparked thoughts and discussions. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/seminars/yi-huang |
| Description | Seminar - Çagatay Bircan (EBRD) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Abstract: We study how private equity (PE) firms generate returns for their investors, by using detailed confidential textual data to study their value creation plans and actions. We show that PE firms follow a rich variety of plans and manage to implement most of them. They actively monitor their investments and introduce new plans to create additional value or turn around deals that are not performing up to scratch. The number of initial value creation plans does not explain the variation in returns investors eventually receive. But the share of plans that a fund successfully implements is a strong and positive predictor of returns. We also show that PE firms improve operational efficiency: productivity increases as PE-backed companies ramp up investment, employment, sales, and reduce their price markups, which allows them to gain substantial market shares. The majority of the operational improvements instigated by PE firms persist even after they fully exit their investments. Finally, we show that most of these operational changes help explain eventual returns. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.systemicrisk.ac.uk/seminars/value-creation-private-equity |
| Description | Seminar Big Banks and Macroeconomic Outcomes: Theory and Cross-Country Evidence of Granularity by Franziska Bremus |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Seminar Diagnostic Expectations and Credit Cycles Nicola Gennaioli |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/seminars/nicola-gennaioli |
| Description | Seminar Early-warning signals of topological collapse in interbank networks by Iman van Lelyveld |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Seminar Extreme Risk Dependence by Evarist Stoja |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar Fear, Anger and Credit: On Bank Robberies and Loan Conditions by Steven Ongena |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar Foreign Exchange Markets with Last Look by Álvaro Cartea |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas." |
| Year(s) Of Engagement Activity | 2016 |
| Description | Seminar Global Asset Allocation Shifts by Andreas Schrimpf |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterward and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar How Does My Country Grow? Economic Advice Through Story-telling by Brian Pinto |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas |
| Year(s) Of Engagement Activity | 2014 |
| Description | Seminar Inconspicuousness and obfuscation: How large shareholders dynamically manipulate output and information for trading purposes by Bart Taub |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/seminars/bart-taub |
| Description | Seminar Insecure Debt by Enrico Perotti |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar Leverage Dynamics, Agency Cost of Debt, and Capital Regulation by Anat Admati |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/seminars/anat-admati |
| Description | Seminar Manual vs. High Frequency Traders in the Interbank FX Market, Role of Tick Size Soheil Mahmoodzadeh |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/seminars/soheil-mahmoodzadeh |
| Description | Seminar Marking to Market versus Taking to Market by Guillaume Plantin |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar Markups, Productivity and the Financial Capability of Firms by Carlo Altomonte |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar Model Risk Cultures by Andreas Tsanakas |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar Monetary Policy Propagation and Uncertainty by Esteban Prieto |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar Network Uncertainty and Interbank Markets by Matthew Pritsker |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar Politicians, banks, and sovereign debt: Unholy trinity or divine coincidence? by Alexander Popov |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/seminars/alexander-popov |
| Description | Seminar Search for Yield by Rafael Repullo |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry by Nathan Foley-Fisher |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/seminars/nathan-foley-fisher |
| Description | Seminar Smooth Trading with Overconfidence and Market Power by Albert S. (Pete) Kyle |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterward and increased interest in related subject areas |
| Year(s) Of Engagement Activity | 2014 |
| Description | Seminar The Euro Repo Interbank Market by Angelo Ranaldo |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar The Great Financial Plumbing by Karel Lannoo |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar The New European Commission's Financial Regulatory Agenda by Nicolas Véron |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | The seminar sparked questions and discussion afterward and increased interest in related subject areas |
| Year(s) Of Engagement Activity | 2014 |
| Description | Seminar The Political Economy of Bank Bail-Outs by Rainer Haselmann |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Seminar The Real Effect of Financial Networks by Ilknur Zer |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/seminars/ilknur-zer |
| Description | Seminar The invisible hand of the government: Moral suasion during the sovereign debt crisis by Neeltje van Horen |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| Description | Seminar Unorthodox monetary policy, local fiscal policy, and loan pricing by Michael Koetter |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar When Arm's Length Is Too Far: Relationship Banking over the Credit Cycle by Ralph de Haas |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar When Do Laws and Institutions Affect Recovery Rates on Collateral? by Hans Degryse |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Seminar at the federal Reserve Board - Alper Odabasioglu |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Alper Odabasioglu gave a seminar at the Federal Reserve Board in Washington in January 2017. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Seminar by William F Shadwick: From the Geometry of Extreme Value Distributions to Improved Tail Fitting in Market Data |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2017 |
| URL | http://www.systemicrisk.ac.uk/seminars/william-f-shadwick |
| Description | Single stock circuit breakers on the London Stock Exchange: Do they improve subsequent market quality? - seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Seminar by James Brugler. Abstract: This paper uses proprietary data to evaluate the efficacy of single-stock circuit breakers on the London Stock Exchange during July and August 2011. We exploit exogenous variation in the length of the uncrossing periods that follow a trading suspension to estimate the effect of auction length on the volume of trades, frequency of trading and the magnitude of market microstructure noise in the returns process. We also estimate the effect of a trading suspension in one FTSE-100 stock on the volume of trades, trading frequency and the magnitude of market microstructure noise for other FTSE-100 stocks. We find that auction length has a significant detrimental effect on market quality for the suspended security when returns are negative but no discernible effect when returns are positive. We also find that trading suspensions help to ameliorate the spread of market microstructure noise and price inefficiency across securities during falling markets but the reverse is true during rising markets. Although trading suspensions may not improve the trading process within a particular security, they do appear to play an important role preventing the spread of poor market quality across securities in falling markets and therefore can be effective tools for promoting market-wide stability. The event generated questions and discussion. The event generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/seminars/james-brugler |
| Description | Solvency 2 and Basel III |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Round table discussion at the European Systemic Risk Board. Presentation by J Danielsson. Round table discussion at the European Systemic Risk Board |
| Year(s) Of Engagement Activity | 2013 |
| Description | Sovereign, Bank and Insurance Credit Spreads: Connectedness and System Networks |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Type Of Presentation | keynote/invited speaker |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A seminar by Loriana Pelizzon on "Sovereign, Bank and Insurance Credit Spreads: Connectedness and System Networks" Interaction with relevant academic audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/seminars/loriana-pelizzon |
| Description | Stage interview at impact'16 fintech/insurtech (Eva Micheler) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Eva Micheler gave a stage interview on Blockchain during the impact'16 fintech/insurtech conference. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://impactcee.com/impact16-fintechinsurtech-program/ |
| Description | Structural models for intraday liquidity resilience in the limit order book |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Type Of Presentation | paper presentation |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Paper presented by E Panayi at the 7th International Conference on Computational and Financial Econometrics (CFE 2013) and 6th International Conference of the ERCIM (European Research Consortium for Informatics and Mathematics) Working Group on Computational and Methodological Statistics (ERCIM 2013) in December 2013. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2013 |
| URL | http://www.cfenetwork.org/CFE2013 |
| Description | Systemic Risk in Computer Based Trading course |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Postgraduate students |
| Results and Impact | Systemic Risk in Computer Based Trading course by J-P Zigrand as part of the LSE Executive Global MSc Management programme Systemic Risk in Computer Based Trading course as part of the LSE Executive Global MSc Management programme |
| Year(s) Of Engagement Activity | 2014 |
| Description | Systemic Risk in Derivatives Markets: The Fourth Annual Conference on Systemic Risk Modelling |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | This year's conference focused on systemic risks emanating from derivatives markets. Topics included: • Empirical evidence on derivatives risk exposure and risk taking behaviour in derivatives markets • Measures of systemic risk in derivatives markets • Counterparty risk, collateral management, central clearing and contagion in derivatives markets • Market microstructure of derivatives markets (including network aspects of OTC derivatives) • Model risk in derivatives markets • Information aggregation and herding in derivatives markets The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/systemic-risk-derivatives-markets-fourth-annual-conference-syst... |
| Description | Systemic Risk in Over-The-Counter Markets: The Third Annual Conference on Systemic Risk |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The conference sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/systemic-risk-over-counter-markets-third-annual-conference-syst... |
| Description | Systemic Risk: Creation and Perception |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Conference paper presentation by R Anderson at the DTCC Risk Forum in Brussels Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2014 |
| Description | Systemic risk and financial regulations: what is the link? |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Paper by J Danielsson on Systemic risk and financial regulations: what is the link? presented at European Commission (Economic Analysis) conference in Brussels Paper on Systemic risk and financial regulations: what is the link? presented at European Commission (Economic Analysis) conference |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://ec.europa.eu/internal_market/economic_analysis/conferences/index_en.htm |
| Description | Systemic risk: Issues, applications and relevance |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Oral presentation by J Danielsson on systemic risk to practitioners and regulators Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2013 |
| Description | Systemic stress testing |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A presentation by Eric Schaanning at the European Systemic Risk Board, Bank of Finland & Risklab conference on Systemic Risk Analytics, Helsinki, October 2016 |
| Year(s) Of Engagement Activity | 2016 |
| Description | Systemic stress testing |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | A talk by Eric Schaanning at the European Systemic Risk Board, ECB, January 2017 |
| Year(s) Of Engagement Activity | 2017 |
| Description | Systemic stress testing |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A presentation by Eric Schaanning at the Annual conference on Financial Risk and Network Theory, University of Cambridge, September 2016 |
| Year(s) Of Engagement Activity | 2016 |
| Description | Szreder - Financial markets and economic development at regional level - evidence from oil industry |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Postgraduate students |
| Results and Impact | Gosia Szreder presented her paper Financial markets and economic development at regional level - evidence from oil industry at the PhD seminar in May 2017. The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2017 |
| Description | Szreder - Winner's curse in public auctions? - evidence from Polish data |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Postgraduate students |
| Results and Impact | Gosia Szreder presented her paper Winner's curse in public auctions? - evidence from Polish data at the PhD seminar in March 2018. The seminar sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2018 |
| Description | THE MAN WHO KNEW: The Life and Times of Alan Greenspan - Public Lecture by Sebastian Mallaby |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | No post-war figure has loomed over global finance as imposingly as Alan Greenspan, America's Fed chairman from the booming 1980s until the eve of the 2008 financial crash. And no figure has been more paradoxical: a man who preached the virtue of the gold standard, yet came to embody paper money; a man who posed as a dry technocrat, yet was political to his core. From his debut as an acolyte of the cultish libertarian novelist, Ayn Rand, through his controversial relationship with Richard Nixon and successive presidents, Greenspan was the ultimate Washington wise man, the quiet God in the machine. But when global finance melted down, Greenspan's reputation melted with it. Drawing on five years of untrammelled access to Greenspan, his papers, and his professional and personal intimates, Sebastian Mallaby has written the definitive study of the preeminent financial statesman of the post-war era. Reckoning both with Greenspan's monetary decisions and with his approach to financial regulation, Mallaby grapples with the central mystery that Greenspan's life presents to us. Why did a man so universally celebrated forge a financial system that proved so fatally unstable? And how will his successors protect us from a future crash? The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/man-who-knew-life-and-times-alan-greenspan-public-lecture |
| Description | TV interview - Iceland TV on central banks (Danielsson) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | It sparked questions and discussions about topic changes in Icelandic laws regarding the central bank. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.ruv.is/frett/fjolgun-sedlabankastjora-afleit-hugmynd |
| Description | Taking the Floor: Models, Morals and Management in a Wall Street Trading Room |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by Daniel Beunza on 11th October 2019. Wall Street banks need to rethink their use of financial models according to Daniel Beunza in his new book Taking the Floor: Models, Morals and Management in a Wall Street Trading Room, which he will talk about in this lecture. A decade after the global financial crisis, a narrow emphasis on structural reform has left a problematic bank culture largely unchanged. Based on extensive research in a Wall Street derivatives trading room, Taking the Floor considers how financial organizations should be redesigned to address the moral shortcomings that culminated in the crisis. Beunza's talk first considers instances in which financial models are effectively used, tracing the presence of extraordinary returns to the integration of traders across desks, which reduced the risk of blind spots posed by the models. Second, Beunza warns that the use of models in risk management can create perceptions of injustice, leading to moral disengagement. Beunza argues for strengthening informal norms and supervisory relationships in banks, bringing elements of traditional investment banking partnerships back into contemporary Wall Street. The talk sparked interactions and questions. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/taking-floor-models-morals-and-management-wall-street-trading-r... |
| Description | Taking uncertainty seriously: simplicity versus complexity in financial regulation |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Type Of Presentation | keynote/invited speaker |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A seminar by Sujit Kapadia on "Taking uncertainty seriously: simplicity versus complexity in financial regulation" Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2014 |
| Description | Talk on Computer Based Trading environments |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk on Computer Based Trading environments. Zigrand visited European Securities and Markets Authority to inform them on the Centre's work on stability in Computer Based Trading environments. Zigrand visited European Securities and Markets Authority to inform them on the Centre's work on stability in Computer Based Trading environments. |
| Year(s) Of Engagement Activity | 2013 |
| Description | Tasca - invited keynote speech on cryptocurrencies at the European Commission |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Paolo Tasca was invited to give a keynote speech at the conference "Cryptocurrencies: Opportunities and risks" at the European Commission in Brussels on 26 Feb 2018. The talk sparked discussion and thoughts on the topic. |
| Year(s) Of Engagement Activity | 2018 |
| Description | Tasca - joint seminar OMFIF and Czech Central Bank named The Future of Money: Risks and Returns |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Paolo Tasca contributed to the discussions that took place during a joint seminar OMFIF and Czech Central Bank named The Future of Money: Risks and Returns on 20 March 2018. The activity sparked thoughts and discussions on the topic. |
| Year(s) Of Engagement Activity | 2018 |
| URL | https://www.omfif.org/meetings/policy/20180318-omfif-czech-national-bank-digital-meeting/ |
| Description | Technology in Finance, Law and Regulation - Conference |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The conference was hosted by SRC on 16th May 2019. Speakers: Tomaso Aste (UCL), Iris Chiu (UCL), Jon Danielsson (LSE), Anna Donovan (UCL), David Fox (University of Edinburgh), Jonathan Liebenau (LSE), Eva Micheler (LSE), Andrew Murray (LSE), Philipp Paech (LSE), Francisco Rivadeneyra (Bank of Canada), Matteo Solinas (Victoria University of Wellington), Priscilla Toffano (IMF), Dirk Zetzsche (University of Luxembourg). The conference explores the use of technology in financial markets from the perspectives of finance, law and regulation. The event covers payment systems, cryptocurrencies and property law, digital tokens, sustainable finance, regulatory technology and the use of artificial intelligence for financial regulation. The conference sparked questions and discussions afterwards. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/TechBARAC |
| Description | The Butterfly Defect - Public Lecture |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The lecture sparked questions and discussion afterward and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/butterfly-defect-public-lecture |
| Description | The Economics of Collateral |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk by Ron Anderson at CSFI Lunchtime Seminar, London on 18 Sept 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | The Economics of Collateral |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | A talk by Ron Anderson at European Central Bank/ Deutsche Bundesbank 2nd Joint Central Bank Seminar on Collateral and Liquidity, Hamburg on 17 Sept 2014. The talk stimulated questions and discussion. The talk stimulated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | The Economics of Collateral |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk by R Anderson at DTCC Forum on the Future of Collateral, Brussels on 28 Oct 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | The Future of Computer Trading in Financial Markets |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | A conference to discuss the Foresight Report Interaction with stakeholders |
| Year(s) Of Engagement Activity | 2013 |
| URL | http://www.systemicrisk.ac.uk/events/future-computer-trading-financial-markets |
| Description | The Global Reform of Financial Regulation and Architecture: How to Balance Safety and Efficiency |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Major policy initiatives are underway on both sides of the Atlantic to reshape the way financial institutions and markets are regulated and structured. This conference assembled thought leaders in the field to take stock of the status of these measures and to reflect on the complex dynamics of change in the financial sector. Interaction with relevant participants |
| Year(s) Of Engagement Activity | 2014 |
| Description | The IPO Market In Competitive Equilibrium: Seeing It Without Knowing It |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Presentation of "The IPO Market In Competitive Equilibrium: Seeing It Without Knowing It" by James, Kevin and Marcela Valenzuela, at the Paris Financial Management Association Conference, 12 December 2016. |
| Year(s) Of Engagement Activity | 2016 |
| Description | The Law, Finance and the Abyss - Public Lecture |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The lecture sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/law-finance-and-abyss-public-lecture |
| Description | The Lloyd's Crisis and its Resolution - Legal Aspects |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/lloyds-crisis-and-its-resolution-%E2%80%93-legal-aspects |
| Description | The Outlook for Global Financial Stability - Public Lecture |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A public lecture given by José Viñals, the Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund (IMF). The event generated questions and discussion afterwards. The event generated discussion. A video interview of José Viñals is on the Systemic Risk Centre Youtube channel which can potentially reach a vast number of viewers. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/outlook-global-financial-stability-public-lecture |
| Description | The Politics of Equality, the "Populist Moment" and the Power of New Technologies |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk given by the prime minister of Iceland Katrín Jakobsdóttir on 2nd May 2019. Insecurities generated by globalisation, migration, and transformative technologies have created new societal divisions in liberal democracies and exacerbated the dislocation between personal identities and political loyalties. Since the Great Recession, the populist/authoritarian Right has profited from this trend, which has been accompanied by a critique of contemporary politics as being too technocratic and distant from the people. In her talk, Katrín Jakobsdóttir, the Prime Minister of Iceland, will argue that a renewed focus on the politics of equality is needed to respond to authoritarian tendencies and to the social challenges posed by the "fourth industrial revolution." Referring to her own political experience and to various forms of collective action - such as the #metoo movement - she makes the case for a democratic renewal based on social justice, gender equality and the green economy. The talk sparked very active interactions and questions afterwards |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/politics-equality-populist-moment-and-power-new-technologies |
| Description | The Power Law: venture capital and the art of disruption |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Date: Monday 7th February 2022 Speaker: Sebastian Mallaby (Council on Foreign Relations & SRC) Chair: Minouche Shafik (LSE) Investing always involves bets on an uncertain future, but venture capitalists face uncertainty of an extreme sort. How do they decide which startups have a chance of making it? How do they impact the economy and society? And why is venture capital spreading globally? Sebastian Mallaby (@scmallaby) is the Paul A Volcker Senior Fellow in International Economics at the Council on Foreign Relations. Minouche Shafik is the Director of the London School of Economics and Political Science. They had a lively conversation on the power law - venture capital industry and social influence. The event sparked questions and discussions among the audience, and generated interests in the topic covered. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.systemicrisk.ac.uk/events/power-law-venture-capital-and-art-disruption |
| Description | The Regulation and Operation of Modern Financial Markets - conference |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | A conference held on 5-6 September 2019 in Unversity of Iceland. Organisers: Mathieu Rosenbaum (École Polytechnique), Jean-Pierre Zigrand (London School of Economics), Ásgeir Jónsson (University of Iceland, Central Bank of Iceland), Jon Þór Sturluson (The Financial Supervisory Authority, Iceland) and Hersir Sigurgeirsson (University of Iceland) The conference studies the operations and workings of modern financial markets and their interactions with, and needs for, financial regulations. Topics include the market microstructure (including algorithmic and high-frequency trading in fast markets), the effects of this microstructure on liquidity, efficiency and stability and the real-world effects and implementations of financial regulations, including regtech. We aim to achieve this by bringing together practitioners, regulators and academic researchers and create a fertile environment for discussion. The conference sparked questions and interactions and follow-up events. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/financial-markets-conference |
| Description | The Root of All Good - Public Lecture |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/root-all-good-public-lecture |
| Description | The STEM Requirements of 'Non-STEM' Jobs: Evidence from UK Online Vacancy Postings and Implications for Skills & Knowledge Shortages |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A presentation by Inna Grinis at the 1st IZA Workshop on the Economics of Education: Higher Education, Bonn, Germany - September 30, 2016 - October 01, 2016 |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://conference.iza.org/conference_files/EcoEdu_2016/viewProgram?conf_id=2943 |
| Description | The STEM Requirements of 'Non-STEM' Jobs: Evidence from UK Online Vacancy Postings and Implications for Skills & Knowledge Shortages |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A presentation by Inna Grinis at the 8th International Oxford Education Research Symposium (OERS), Oxford, August 03 - 05, 2016 |
| Year(s) Of Engagement Activity | 2016 |
| URL | https://www.oxford-education-research-symposium.com/ |
| Description | The Single EU Capital Market: progress and challenges |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | The development of a single capital market in Europe is one of the major undertakings of the Juncker Commission. Several important initiatives are already underway, for example new prospectus legislation. When complete, the single capital market will enhance Europe's innovation and high-tech industries. The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/single-eu-capital-market-progress-and-challenges |
| Description | The Third International Annual Capital Markets Conference 2022 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The National Institute of Securities Markets (NISM) along with the Systemic Risk Centre (SRC) at the London School of Economics (LSE) organised The Third Annual International Capital Markets Conference 2022 on "Role of Capital Markets for Sustainable Growth of Economy" sponsored by State Bank of India. The conference was held in Mumbai at the NISM campus on 15-16 December, 2022. KEY THEMES Broad conference themes include the following: Sustainable Capital Markets and Investments; Linkages between Financial Markets and Real Economy; Regulation and Financial Market Integrity; Fund Raising - Valuations and Disclosures; Changing Profile of Investor Segment in Indian Markets; Geopolitical Risks and Securities Markets Response; Institutional Investors and Governance. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.nism.ac.in/conferences/third-annual-international-capital-markets-conference/ |
| Description | The Wealth Effect: How the Great Expectations of the Middle Class Have Changed the Politics of Banking Crises |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A talk by Jeff Chwieroth and Andrew Walters on 4th April 2019. The rising wealth of middle class households and voters has transformed the politics of banking crises. In this lecture, Jeffrey Chwieroth and Andrew Walter explain how mass political demand has contributed to rising financial fragility and political instability and discontent in contemporary democracies. In their new book, The Wealth Effect: How the Great Expectations of the Middle Class Have Changed the Politics of Banking Crises, Jeffrey Chwieroth and Andrew Walter use extensive historical and contemporary evidence to demonstrate that the politics of major banking crises have been transformed by the "wealth effect": rising middle class wealth has generated "great expectations" regarding government responsibilities for the protection of this wealth. They show that crisis policy interventions have become more extensive and costly - and their political aftermaths far more fraught - because of democratic governance, not in spite of it. Using data from a large number of democracies over two centuries, and detailed longitudinal studies of Brazil, the United Kingdom and the United States, the book breaks new ground in exploring the consequences of the emergence of mass political demand for financial stabilization. The talk sparked questions and debate |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/wealth-effect-how-great-expectations-middle-class-have-changed-... |
| Description | The bank/capital markets nexus goes global by Hyun Song Shin |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | One lesson from the Great Deleveraging of 2008 was the futility of drawing a clear distinction between banks and capital markets when wholesale funding was the margin of adjustment. In 2008, leverage and risk appetite danced to the tune of the VIX index, and a generation of researchers grew up with the VIX index as a "wonder variable" in empirical research. But the mantle of the wonder variable has slipped; the VIX index no longer works as a barometer of risk appetite. Instead, it is the US dollar which has taken on the mantle of the market risk factor. When the dollar is strong, risk appetite is weak, and market anomalies such as the breakdown of covered interest parity (CIP) become more pronounced. This raises two questions: why is this, and does it matter? To understand why, one has to lift one's gaze and take in the global picture. This presentation by the BIS's Hyun Song Shin takes the audience through the reasons for why the dollar has taken on the role of the global risk factor. The answers turn out to shed light on real economy puzzles, too. Slow productivity growth and of international trade are two of the biggest puzzles in economics currently. Market anomalies turn out to be just the other side of the coin of the real economy puzzles. So, financial markets turn out to matter for the real economy. Hyun Song Shin was appointed Economic Adviser and Head of Research on 1 May 2014. Before joining the BIS, Mr Shin was the Hughes-Rogers Professor of Economics at Princeton University. In 2010, on leave from Princeton, he served as Senior Adviser to the Korean president, taking a leading role in formulating financial stability policy in Korea and developing the agenda for the G20 during Korea's presidency. From 2000 to 2005, he was Professor of Finance at the London School of Economics. He holds a DPhil and MPhil in Economics from Oxford University (Nuffield College) and a BA in Philosophy, Politics and Economics from the same university. Mr Shin is author of numerous publications in the fields of monetary policy, banking, finance and issues related to financial stability and further details are available here. The event generated questions and discussion on an important topic. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.systemicrisk.ac.uk/events/bankcapital-markets-nexus-goes-global |
| Description | The changing face of financial intermediation and the second phase of global liquidity |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Professional Practitioners |
| Results and Impact | Hyun Song Shin, Economic Adviser and Head of Research at the BIS, explained in greater detail the topics covered recently in the September issue of the BIS Quarterly Review concerning the shift from bank financing to capital market financing, especially its impact on emerging economies. The event brought together many practitioners in the relevant field and stimulated discussions. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/changing-face-financial-intermediation-and-second-phase-global-... |
| Description | The next crisis - public event |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Public evening event. The official response to this crisis may create long-term stability or, in actual fact, lay the seeds for the next. The panel of experts will debate what is the more likely outcome. Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/next-crisis |
| Description | The regulation of systemic risk in insurance roundtable discussion |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | A talk by J Danielsson at Insurance and systemic risk: Launching workshop of an economist network in Paris in September 2014. The talk generated questions and discussion. The talk generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | The risk lab |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | JP Zigrand wrote in the Markit magazine. It shared relevant information of systemic risk research with practitioners and other stakeholders. It shared relevant information of systemic risk research with practitioners and other stakeholders. |
| Year(s) Of Engagement Activity | 2013 |
| URL | http://www.markit.com/assets/en/docs/markit-magazine/issue-19/MM19_Focus-Systemic%20Risk.pdf |
| Description | The success of Basel III - breakfast briefing |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Professional Practitioners |
| Results and Impact | Breakfast briefing with key stakeholders. Main speaker: Stefan Ingves, Chairman of Basel Committee. The event generated questions and discussion. The event generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Third Annual Conference on Network Science and Economics - Christoph Aymanns |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Christoph Aymanns presented "Illiquidity spirals in coupled over-the-counter markets" at the Third Annual Conference on Network Science and Economics organised by Washington University in St. Louis in April 2017. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://pages.wustl.edu/networkscienceeconconf |
| Description | Third Economic Networks and Finance - Conference |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | The event sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://www.systemicrisk.ac.uk/events/third-economic-networks-and-finance-conference |
| Description | Three principles for Solvency II insurance rules |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Newspaper article in Financial Times Financial Times |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.ft.com/cms/s/0/9d4c4506-37fe-11e3-8668-00144feab7de.html?siteedition=uk |
| Description | Tomaso Aste chaired the "Markets" session of the conference: Cambridge Centre for Risk Studies Seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Topics include but are not limited to the following: Empirical network analysis that enables better understanding of financial flows, exposures and markets Modelling and simulation techniques for measuring interdependent financial risks New metrics and techniques for identifying central, vulnerable or systemically important institutions and markets in financial networks and informs regulatory strategies for improving financial stability Network modelling of time-series data for financial risk management, asset allocation and portfolio management Social network analysis (SNA) in finance, e.g. for making credit and investment decisions Applied network visualisation techniques that improve the communication of financial risks and rewards Analysis of counterparties and their risk exposure from interconnectivity with the financial system Session I: Markets Session chair: Professor Tomaso Aste Dr Marco D'Errico, University of Zurich, European Systemic Risk Board: "The mechanics of portfolio compression: notional excess and systemic risk" and "Rethinking financial contagion" Jussi Lindgren, Aalto University: "Identifying systemic banks in a financial network using logistic regression" Michail Vamvakaris, University of Liverpool: "Horizontal visibility graph analysis of S&P 500 index time series" |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.jbs.cam.ac.uk/faculty-research/centres/risk/news-events/events/2016/financial-risk-networ... |
| Description | Towards a more procyclical financial system |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Blog arguing that heterogeneity in banks' risk models is a good thing. It leads to countercyclicality, and thereby reduces instances of procyclical price movements. |
| Year(s) Of Engagement Activity | 2013 |
| URL | http://www.voxeu.org/article/towards-more-procyclical-financial-system |
| Description | Towards a safer and more stable financial system |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Stefan Ingves is in charge of designing Basel III, the new financial regulations that will help protect the financial system from excesses whilst supporting its mission of promoting economic growth. He addressed the question of whether Basel III lives up to its expectations and the main obstacles to its implementation. Stimulated a lively debate on the relevant issues |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/towards-safer-and-more-stable-financial-system |
| Description | Towards a sustainable financial system |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Have we done enough to avoid a new severe financial crisis? There are fundamental issues surrounding money creation, increased private debts and underestimated endogenous risks. Can the financial system operate in a way that better supports the real economy and encourages sustained growth? Are we missing essential institutions in Europe and globally? This conference aims at creating dialogue between practitioners and academics on these issues, and raising awareness of the remaining problems. Event organised to bring together a wide range of audience. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/events/towards-sustainable-financial-system |
| Description | Trend Growth Durations & Shifts |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | A presentation by Inna Grinis at the Rimini Conference in Economics and Finance (RCEF) - "Innovation, Growth, Governance and Development", Waterloo (Ontario), Canada - September 16-18, 2016 |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://rcef2016.rofea.org/ |
| Description | Uncovering reputation through network topology |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Public/other audiences |
| Results and Impact | Presentation by Giacomo Livan at the Challenges in Data Science: a complex systems perspective International Conference |
| Year(s) Of Engagement Activity | 2015 |
| URL | http://annacarbone.wixsite.com/eu-meet-japan-2015/schedule |
| Description | Understanding Stochastic Volatility in Financial Markets (and the Tobin Tax) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Paper presented by C Julliard at Paul Woolley Workshop Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2013 |
| Description | Unintended Consequences of the New Financial Regulations |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | A debate on whether the post crisis reforms of financial regulations will be effective in protecting us from financial excesses, or may perversely destabilise the financial system. The panel of experts will debate the topic and take questions from the audience. |
| Year(s) Of Engagement Activity | 2013 |
| URL | http://www2.lse.ac.uk/fmg/events/publicLectures/2013/Unitended-Consequences_110313/Unintended-conseq... |
| Description | Valenzuela - IFABS 2018 Chile Conference Financial Decisions in a Changing Global Environment |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | The International Finance and Banking Society (IFABS) Conferences aim to provide a forum for discussion and critical analysis of the major financial and banking challenges and networking amongst academics, policy-makers, research students and practitioners. Founded in 2008 in the United Kingdom, IFABS, with over 3,500 members from over 60 countries, is one of the world's leading organizations dedicated to the promotion of research in banking and finance. The Society is recognised for the top quality research meetings and conferences it organises throughout the world. Marcela Valenzuela was a member of the organising committee. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.ifabs.org/conference/view/11 |
| Description | Valenzuela - Santiago Finance Workshop 2018 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Policymakers/politicians |
| Results and Impact | The Santiago Finance Workshop brought ogether academics, regulators and practitioners from all over the world in order to discuss new empirical and theoretical research that deals with finance, to highlight some of the associated challenges for regulators, but also to assess how regulatory changes may induce in turn some financial innovations in the market. Keynote speakers were -Prof. Toni M. Whited (University of Michigan - Ross School of Business), co-editor of the Journal of Financial Economics. -Prof. Stefan Nagel (University of Chicago - Booth School of Business), executive editor of the Journal of Finance. Marcela Valenzuela was a member of the organising committee. |
| Year(s) Of Engagement Activity | 2018 |
| Description | Warwick Business School Finance Group - Frontiers of Finance 2017 conference |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | Christoph Aymanns presented 'Illiquidity Spirals in Coupled Over-the-Counter Markets' and Andrea Vedolin presented 'The Unintended Consequences of Central Bank Communication'. The authors interacted with relevant audience. |
| Year(s) Of Engagement Activity | 2017 |
| URL | https://www2.warwick.ac.uk/fac/soc/wbs/subjects/finance/frontiers2017/programme/ |
| Description | Wenn die Ruhe den Sturm sät (Finanz und Wirtschaft) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson's research on volatility was cited in this article in a German press. It added debates to the topic and raised the reputation of SRC and LSE. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.fuw.ch/article/wenn-die-ruhe-den-sturm-saet/ |
| Description | What is the Consumption-CAPM missing? An Information-Theoretic Framework for the Analysis of Asset Pricing Models |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Lecture by C Julliard at Carey Business School, Johns Hopkins University Interaction with relevant audience |
| Year(s) Of Engagement Activity | 2014 |
| Description | When Do Regulators Lean Against the Wind? The Political Economy of Implementing Macro-prudential Regulatory Tools |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Study participants or study members |
| Results and Impact | A presentation by Jeffrey Chwieroth and Christopher Gandrud. Paper presented at the annual meeting of the American Political Science Association, Philadelphia, PA, 1 - 4 September 2016 |
| Year(s) Of Engagement Activity | 2016 |
| Description | When Variance Risk Has Two Prices: Evidence from the Equity and Option Markets - seminar |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Other academic audiences (collaborators, peers etc.) |
| Results and Impact | Seminar by Aytek Malkhozov (McGill University). Abstract: We estimate the quarterly dynamics of the Variance Risk Premium (VRP) in both the equity and option markets. We nd that the two VRPs follow similar patterns and responds similarly to changes in volatility and business cycle conditions. However, they also exhibit large, but temporary di¤erences. We nd that such di¤erences are largely explained by variables that proxy for changes in the risk-bearing capacity of nancial intermediaries. These results are consistent with the role played by these intermediaries in setting prices in the option market. They also suggest that frictions may limit risk sharing across the two markets and that the option VRP is at times a biased measure of the risk attitude of equity investors. The seminar generated questions and discussion. The seminar generated questions and discussion. |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.systemicrisk.ac.uk/seminars/aytek-malkhozov |
| Description | When is safer not safe in Asset Management? |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Keynote speech and paper at the Deloitte, EHP and RBSL Conference "Cross Border Distribution - the Journey continues" by JP Zigrand in New Luxembourg Congress Centre Kirchberg Keynote speech and paper at the Deloitte, EHP and RBSL Conference "Cross Border Distribution - the Journey continues" |
| Year(s) Of Engagement Activity | 2014 |
| URL | http://www.deloittelux-library.com/events/Agenda%20Cross%20Border%20Distribution%20Conference%203101... |
| Description | When will the next crisis be? 2025 - if we're lucky |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Newspaper article on financial crisis London Evening Standard |
| Year(s) Of Engagement Activity | 2014 |
| Description | Why Talk? A process model of dialogue in shareholder engagement by Beunza at the PRI In Person Conference, September 7th 2015 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | The talk sparked questions and discussion afterwards and increased interest in related subject areas. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Why it doesn't make sense to hold bonds (The Globe and Mail) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Public/other audiences |
| Results and Impact | Jon Danielsson's work "Why it doesn't make sense to hold bonds" was cited by The Globe and Mail. It increased the interests in the topics and raised the reputation of SRC and LSE. |
| Year(s) Of Engagement Activity | 2016 |
| URL | http://www.theglobeandmail.com/globe-investor/investment-ideas/gi-newsletter/article30128712/ |
| Description | Workshop - 1st LSE Workshop on Political Economy of Turkey |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Study participants or study members |
| Results and Impact | The 1st LSE Workshop on Political Economy of Turkey was co-organised by SRC and European Institute on 12th March 2019. Speakers: Günes Asik (TOBB University of Economics and Technology), Ceren Baysan (Harvard University), Selcen Cakir (Bogaziçi University), Gozde Corekcioglu (Kadir Has University), Emine Deniz (Özyegin University), Selin Köksal (Bocconi University), Tolga Sinmazdemir (LSE) Organisers: Cevat Giray Aksoy (EBRD, LSE & IZA), Davide Luca (University of Cambridge, LSE & GSSI) and Orkun Saka (LSE & SRC) The workshop sparked discussions and thoughts on relevant topics. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.systemicrisk.ac.uk/events/1st-lse-workshop-political-economy-turkey |
| Description | Workshop: European Capital Markets and Brexit: the Road(s) Ahead |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | A workshop on European Capital Markets and Brexit: the Road(s) Ahead co-organised by SRC in Sept 2018 Keynote speaker: Mario Nava (Chairman, CONSOB) Panel: Franco Bruni (Bocconi University), Jon Danielsson (SRC, LSE), Marco Ventoruzzo (Bocconi University), Jean-Pierre Zigrand (SRC, LSE) Chair: Donato Masciandaro (Bocconi University) Organisers: Jon Danielsson (SRC, LSE), Donato Masciandaro (Bocconi University) The workshop sparked discussion on topics related to CMU and brought together researchers and policymakers. |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://www.systemicrisk.ac.uk/events/european-capital-markets-and-brexit-roads-ahead |
| Description | Workshop: Reflections on Financial Regulation: How Might it Change? |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Peter Andrews (ex-chief economist, FCA) talked about consumer protection, prudential and market efficiency regulation, followed by discussions with the panellists (Elizabeth Corley CBE (Vice-Chair of Allianz Global Investors and Board of Directors, Morgan Stanley); Professor Lord Nick Macpherson (former Permanent Secretary to HM Treasury, Chair of Hoares Bank) and Baroness Sharon Bowles (Non-Executive Director of London Stock Exchange and former Chair Economics and Finance Committee, European Parliament)). The themes included: Organising markets so that they need less regulation What follows behavioural economics Not applying all the science needed to understand decision making and therefore markets - is there a tractable unified theory? Limits on what regulation can achieve What does real world behaviour and contracting imply for the approach to regulation? |
| Year(s) Of Engagement Activity | 2018 |
| URL | http://systemicrisk.ac.uk/events/reflections-financial-regulation-how-might-it-change |
| Description | Zorka Simon (Goethe University Frankfurt and Research Centre SAFE) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Study participants or study members |
| Results and Impact | Seminar on 14th February 2020. Seminar Title: Collateral Eligibility of Corporate Debt in the Eurosystem Abstract: Under the unique institutional framework of the Eurosystem, we study how central bank collateral eligibility of corporate bonds induces externalities that help the ECB to fulfill its policy mandate. Using the eligible asset list of the Eurosystem Collateral Framework, we identify the first inclusion date of both individual bonds and issuer firms. Following this event, we find that, due to the increased supply of and demand for pledgeable collateral, (i) trading activity in the secondary market for collateral, the securities lending market, increases, (ii) eligible bonds trade at lower yields due to the liquidity service of pledgeability, and (iii) newly-issued bonds' liquidity declines, whereas the liquidity of older bonds does not change, or even improves. Our evidence suggests that the existence of corporate bond lending relaxes the constraint of limited collateral supply, thereby making an otherwise fragmented market more cohesive and complete. Moreover, we observe that, following bond-issuing firms' first-time eligibility list inclusion, they reduce bank debt and expand corporate bond issuance activity, thus increasing the overall size and their maturity of total debt. The seminar sparked questions and discussions. |
| Year(s) Of Engagement Activity | 2020 |
| URL | http://www.systemicrisk.ac.uk/seminars/zorka-simon |