FIELDS INSTITUTE FOR RESEARCH IN MATHEMATICAL SCIENCES
28 , 2015
Conference on Financial Econometrics and Risk
In the aftermath of the financial crisis of 2007-2009, which led
to massive bank failures and bailouts and a global recession, it has become
clear that the models being used to value complex financial products were
not only unrealistic but also incapable of accurately measuring the risks
associated with the use of these products. In order to prevent similar economic
disasters in the future, we must not only develop new robust, real time financial
models that accurately reflect the complexity of todays financial markets,
but these models must also provide financial intuitions with the ability to
rapidly assess financial risk, ultimately allowing for the nimble regulatory
action by bodies such as the Bank of Canada and the Office of the Superintendent
of Financial Institutions Canada (OSFI).
Historically, the financial industry has relied on models that do not accurately
reflect the complexity of the marketplace, and thus neither have the capacity
to accurately predict the risks associated with the use of these products
nor the ensuing economic crises that can occur from their use. Instead there
is an urgent need to develop statistical models and frameworks, which are
flexible enough to realistically describe the dynamics of financial asset
returns which can take into account the correlation between multiple assets.
The 1-day conference will explore the issues raised above in detail bringing
together leading academic and industry experts on financial econometrics
and risk management.
The Conference on Financial Econometrics and Risk Management will be held
in London, Ontario at Western University's CFIRM (Centre for Financial Innovation
and Risk Management). For more information, please visit the Western
University Economics Events Website.
The 1-day conference will consist of 8 talks, with speakers drawn from
leaders in academia and the industry. Each talk will be 45 minutes, including
discussion and questions. For the half-day workshop two lectures will be
given by leading academic experts in the field.
The event's program can be found here: http://economics.uwo.ca/about_us/docs/EconometricsConference2015_Program.pdf