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Einrichtungen >> Fakultät Sozial- und Wirtschaftswissenschaften >> Bereich Volkswirtschaftslehre >> Lehrstuhl für Volkswirtschaftslehre, insb. Internationale Wirtschaft >>
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S: Systemic Risk, Regulation and Stability 2- Dozent/in
- Prof. Dr. Mishael Milakovic, Ph.D.
- Angaben
- Vorlesung
2 SWS
Zeit und Ort: Einzeltermin am 18.7.2012 18:00 - 22:00, F21/379
ab 19.4.2012
- Inhalt
- This two-part sequence deals with the risks that emanate from modern financial markets and their regulation. The central question is how these risks, their regulation, and the institutional framework itself can actually contribute to the creation of “systemic” risk, resulting in historically recurring economy-wide crises.
The second course in the sequence deals with a very recent strand of literature that approaches systemic risk from the perspective of herd behavior and the institutional or network structure of financial markets. The latter shifts the traditional focus on incentive problems for financial institutions that are “too big to fail” to concepts regarding network fragility when financial institutions are “too interconnected to fail,” and also deals with the question how to characterize the fragility or resilience of networks from a statistical point of view. The main purpose of the course is to make students aware of the conceptual shortcomings in the definition of systemic risk that is inherent in traditional asset pricing theories, and to introduce them to models of herd behavior and elementary notions of the structure and functioning of complex networks. Lectures are in English.
- Zusätzliche Informationen
- Erwartete Teilnehmerzahl: 40
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