2011 - Programme Complex Systems: Towards a Better Understanding of Financial Stability and Crises

Programme

Thursday, 3 November 2011
Opening by Jan Sijbrand, Executive Director of De Nederlandsche Bank (DNB) 
 

SESSION I – HETEROGENEOUS AGENT MODELS

Chair: Jakob de Haan, Head of Research (DNB)

Cars Hommes (University of Amsterdam),
'Animal Spirits, Heterogeneous Expectations and Crises'  [Paper]  [Presentation A] [Presentation B]
Discussant: Domenico Delli Gatti ( Catholic University in Milan ) [Presentation]

Maria Demertzis (DNB),
'Complex Methods in Economics: An Example of Behavioural Heterogeneity in House Prices'  [Paper]  [Presentation]
Discussant: Vincent Sterk (University College London)  [Presentation]   

KEYNOTE: Doyne Farmer (Santa Fe Institute),
'Steps toward Agent-based Models for Central Banking'  [Presentation]

Chair: Jan Marc Berk, Director of Economics and Research (DNB)

SESSION II – FINANCIAL STABILITY

Chair: Cars Hommes (University of Amsterdam)

Tuomas Peltonen (European Central Bank),
'Mapping the State of Financial Stability' [Paper]  [Presentation]
Discussant: Stijn Ferrari (National Bank of Belgium)  [Presentation

Mikael Juselius ( Hanken School of Economics),
'Sustainable Financial Obligations and Crisis Cycles'  [Paper]  [Presentation]
Discussant: Cees Diks (University of Amsterdam)  [Presentation]

Friday, 4 November 2011

SESSION III – COMPLEX METRICS

Chair: Doyne Farmer (Santa Fe Institute)

Scott Brave (Federal Reserve Bank of Chicago),
'Diagnosing the Financial System: Financial Conditions and Financial Stress'  [Paper]  [Presentation]
Discussant: Chen Zhou ( DNB )  [Presentation]

Dima Shepelyansky (Université de Toulouse),
'Google Matrix of the World Trade Network'  [Paper]  [Presentation]
Discussant: Kimmo Soramäki (Soramäki Networks)   [Presentation]

Chair: Job Swank, Executive Director of DNB  

Keynote:  Andy Haldane (Bank of England),
'Complexity in Finance'   

SESSION IV – FINANCIAL NETWORKS

Chair: Klaas Knot, Governor of DNB

Sujit Kapadia (Bank of England),
'Complexity, Concentration and Contagion'  [Paper]  [Presentation]
Discussant: Esther Faia (Goethe Universität)  [Presentation]

Goetz von Peter (Bank of International Settlements),
'Interbank Tiering and Money Center Banks'  [Paper]  [Presentation]
Discussant: Iman van Lelyveld (DNB)  [Presentation]