The 2008 financial crisis posed unprecedented challenges to practitioners and policy makers around the world. Researchers responded in tandem by re-examining the approaches to model financial markets and their interactions with the real economy. Agent-based models, networks, dynamical systems, and mean-field games became part of the emerging research area of systemic risk alongside more traditional economic models.
In a joint OECD NAEC-Fields Institute workshop in Toronto, leading academic experts and policy makers reflected on the lessons learned over the past 10 years and discussed recent advances in modelling of the financial system with the aim of a sustainable, inclusive and stable economy.
=> Summary of conference (pdf)
The first day of the workshop featured mini-courses targeted towards graduate students, postdoctoral fellows and other young researchers
Alan Kirman, NAEC Initiative
Agent-Based Models in Economics
Blake LeBaron, Brandeis International Business School
Alissa Kleinnijenhuis, University of Oxford
Asset Price Bubbles: Economics, Mathematics, and Statistics
Matheus Grasselli, McMaster University
Networks and Systemic Risk
Thomas Hurd, McMaster University
Blockchains and Distributed Ledgers in Retrospective and Perspective
Alex Lipton, Co-Founder and CTO, Silamoney and MIT