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Finance Brown Bag Seminar

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The Fin­ance Brown Bag Sem­inar is held jointly with the Vi­enna Gradu­ate School of Fin­ance (VGSF) and serves as a present­a­tion plat­form for PhD stu­dents, fac­ulty mem­bers, and vis­it­ors. It usu­ally takes place on Wed­nes­days from 12:00 to 13:00 (loca­tion tba). For fur­ther in­form­a­tion, please con­tact bbs-fin­ance@wu.ac.at

Win­ter Term 2018

  • August 27th, 2018, 12:00-13:00, D4.0.019
    Car­los Ramirez
    (Board of Gov­ernors of the Fed­eral Re­serve Sys­tem)
    Title: "Reg­u­lat­ing Com­plex Fin­an­cial Net­works "

    Ab­stract: This pa­per ar­gues that the com­plex­ity of mod­ern fin­an­cial sys­tems can greatly re­duce the ab­il­ity of poli­cy­makers to im­prove in­vestors' wel­fare. Un­der some con­di­tions, poli­cy­makers may be in­cap­able of pre­vent­ing large cas­cad­ing fail­ures. In other cases, they can sig­ni­fic­antly im­prove in­vestors' wel­fare by im­pos­ing restric­tions on a small set of in­sti­tu­tions. Im­port­antly, the size of that set is jointly de­termined by the costs of restrict­ing in­sti­tu­tions, in­vestors' at­ti­tudes to­wards risk and am­bi­gu­ity, and the know­ledge avail­able to poli­cy­makers about the un­derly­ing struc­ture of such sys­tems.