CCS2016 Satellite Workshop

CCS16 Satellite Session: Financial Networks and Policy Applications: from Systemic Risk to Sustainability


Organizers: Stefano Battiston (Univ. of Zurich), Cars Hommes and Diks Cees (Univ. of Amsterdam), Diego Garlaschelli (Leiden Univ.)

Date and Venue: Wed Sept 21 – Room E Mendes da Costa kamer, CCS16 Amsterdam

Aims and scope. The recent body of works on financial networks has been clarifying when and why interconnectedness within the financial system can be a mechanism of amplification of shocks. In addition to the traditional source of shocks, e.g. the bursting of housing bubbles, a policy debate has emerged from the recent climate negotiations in COP21 on whether future shocks could arise from the exposures of financial institutions to so-called carbon stranded assets. Concepts such as tipping points, networks, contagion, feedbacks and resilience have entered the financial and regulatory lexicon. The actual use of complex systems models is still in an early stage. However, the value of policy insights derived from complexity-based methods has been demonstrated by a growing number of recent works. Times are ripe to complement existing economic modeling approaches with complexity-based policy dashboards, aimed to monitor and manage highly interconnected economic and financial systems.

Program

Time Name Affiliation Talk Title
14:15 - 14:40 Stefano Battiston University of Zurich, Switzerland Introduction - "Policy Applications of Financial Networks"
14:40 - 15:20

Contributed Ignite Talks Session

  Participant Title of Ignite Talk
1 James Glattfelder (UZH) Architectures of Power: the evolution of the global ownership network
2 Javier Garcia-Bernardo (UVA) The role of offshore ownership chains: network patterns and risks
3 Giulio Cimini (IMT Lucca) Financial Network Reconstruction via Fitness-Induced Maximum Entropy
4 Mateusz Wilinski (FUW) Modeling Endogenous Contagion on O/N Interbank Market
5 Gabriele Visentin (UZH) Rethinking Financial Contagion
6 Paolo Barucca (LIMS and UZH) Network Valuation in Financial Systems
7 Franziska Schuetze (Global Climate Forum) Climate stress-tests of EU banks
8 Veronika Stolbova (UZH) The EU sectors macro-network: exposures to climate policy risks
15:20 - 15:45 Question and Answer Session
15:45 - 16:15 Coffee break
Invited Panel Session
16:15 - 16:30 Marten Scheffer Wageningen University and Research Centre Could new social norms save our markets and their planet?
16:30 - 16:45 Cars Hommes University of Amsterdam, Netherlands Bubbles and crashes in large group asset market experiments
16:45 - 17:00 Luciano Pietronero University of Rome “La Sapienza”, Italy Economic Complexity: Measuring the Intangible Growth Potential of Countries
17:00 - 18:00

Panel Discussion. Moderator: Stefano Battiston
Panelists: Marten Scheffer, Cars Hommes, Luciano Pietronero, Carlo Jaeger