NAEC

New Approaches to Economic Challenges - Complexity of the Economy

 

Complexity of the Economy:
Research and Policy Implications (26-27 October 2015) 

The OECD, the Institute for New Economic Thinking (INET) Oxford, the Global Complexity Network (GloComNet) and the Global Systems Science from the European Commission co-organised the workshop on "Complexity of the Economy: Research and Policy Implications" at the OECD Headquarters in Paris on 26-27 October 2015.

The workshop was a timely opportunity for policy-makers, academics and researchers in economics to discuss the policy applications emerging from the study of complexity. The workshop featured ideas and policy tools from the theory of complex systems. It outlined how complexity can enhance understanding of economic issues including preventing financial crises, managing systemic risk and understanding processes of economic growth and innovation as well as sustainability. 


Agenda

Summary of the workshop 

Simple Policy Lessons from Embracing Complexity by William R. White

 

Welcome

Angel Gurría, OECD Secretary-General (watch)
Vladimir Šucha, Director-General, Joint Research Centre, European Commission (watch)

 

Introduction: Why does Complexity Matter?

Eric Beinhocker, Executive Director INET, Oxford Martin School, University of Oxford (presentation / watch)
Lex Hoogduin, Professor of Complexity and Uncertainty in Financial Markets and Financial Institutions, University of Groningen,
and Founder GloComNet (
watch)
Ralph Dum, Senior Expert, Digital Science Unit, DG CONNECT, European Commission (presentation / watch)

 

Session 1: Money and Finance – Theory and Policy

John Geanakoplos, Professor of Economics, Yale University (watch)
Christoph Aymanns, Research Officer, Systemic Risk Centre, London School of Economics (presentation / watch)
Christian Upper, Head of Financial Markets, Bank of International Settlements (presentation / watch)
Philipp Hartmann, Deputy Director of General Research, European Central Bank (watch)

 

Session 2: Networks in Finance – Theory and Policy

Stefano Battiston, Professor of Finance, University of Zurich (presentation / watch)
Diego Garlaschelli, Assistant Professor of Theoretical Physics, University of Leiden (presentation / watch)
Iman van Lelyveld, Senior Policy Advisor, De Nederlandsche Bank, VU University (presentation / watch)
Sebastian Poledna, Research Scholar, IIASA (presentation / watch)
Harald Stieber, Economist and Financial Market Analyst, DG FISMA, European Commission (watch)
Dirk Bezemer, Professor of Economics, University of Groningen (watch)

 

Session 3: Sustainability – Theory and Policy

Jim Watson, Director of Sussex Energy Group, University of Essex (presentation / watch)
Roland KupersIndependent Consultant, Complexity, Resilience, Green Growth (presentation)
Simon Buckle, Head of the Climate, Biodiversity and Water Division, Environment Directorate, OECD (presentation)

 

Session 4: Growth and Innovation – Theory and Policy

Luciano Pietronero, Professor of Physics, La Sapienza (presentation)
Doyne Farmer, Professor of Mathematics, University of Oxford (presentation / watch)
Koen Frenken, Full Professor in Innovation Studies , Utrecht University and Lund University (presentation / watch)
Dan Andrews, Senior Economist, Structural Policy Analysis Division, Policy Studies Branch,
Economics Department, OECD (
presentation / watch)

 

Session 5: Boom Bust Boom: Movie on Financial Crises

Lex Hoogduin, Professor of Complexity and Uncertainty in Financial Markets and Financial Institutions, University of Groningen,
and Founder GloComNet (watch)
Theo Kocken, Founder Cardano, Introduction to the movie Boom Bust Boom (watch)
Fragments Boom Bust BoomMovie on Financial Crises (watch)
Catherine L. Mann, Chief Economist and Head of the Economics Department, OECD. Reaction on the movie. (watch)
Te Bao, Assistant Professor of Economics, University of Groningen (presentation / watch)
Marco Ratto, Senior Scientist, Joint Research Centre, European Commission. Reaction on the movie. (watch)
Theo Kocken, Founder Cardano, reaction on comments to the movie Boom Bust Boom (watch)

 

Session 6: Complex Systems Methods

Rob Axtell, Professor of Computational Social Science,  George Mason University (presentation / watch)
Henk Krijnen, Founder, NavIncerta (presentation / watch)
Angela Wilkinson, Counsellor for Strategic Foresight, OECD (watch) 

 

Session 7: Economic Geography and Cities

Geoffrey West, Distinguished Professor and Past President, Sante Fe Institute (presentation / watch)
Colin Harrison, Founder, Urban Systems Collaborative (watch)
Rudiger Ahrend, Head of Urban Policy Unit, Public Governance Directorate, OECD (presentation / watch)

 

Session 8: Complexity-Based Data Analysis

Tobias Preis, Associate Professor of Behavioural Science and Finance, University of Warwick (presentation / watch
Co-Pierre Georg, Research Economist, Bundesbank and Senior Lecturer at the School of Economics,
University of Cape Town (presentation / watch) 
Patrick Lenain, Head of Division, Country Studies Branch, Economics Department, OECD (watch)

 

Wrap-up: How can Complexity Science Contribute to Better Policies for Better Lives?

Noé van Hulst, Ambassador of the Permanent Delegation of the Netherlands to the OECD (watch)
Lex Hoogduin, Professor of Complexity and Uncertainty in Financial Markets and Financial Institutions, University of Groningen,
and Founder GloComNet (
watch)
Doyne Farmer, Professor of Mathematics, University of Oxford (watch)
Mathilde Mesnard, Senior Advisor to the Secretary-General and Coordinator of NAEC, OECD (watch)

NAEC strip

Welcome by Angel Gurría, OECD Secretary-General 

 

Welcome by Vladimir Šucha, Director-General,
Joint Research Centre, European Commission

 

John Geanakoplos, Professor of Economics,
Yale University

 

Eric Beinhocker, Executive Director INET, Oxford Martin School, University of Oxford

 

Jim Watson, Director of Sussex Energy Group,
University of Sussex

 

Geoffrey West, Distinguished Professor and Past President, Sante Fe Institute

 

Listen to interviews with speakers 
(at the bottom of the page)

 

Watch the full webcast:

26 October 2015
27 October 2015 

 

Documents connexes