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DTSTART:20190331T010000
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DTSTART:20191027T010000
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DTSTART;TZID=Europe/Helsinki:20191007T001500
DTEND;TZID=Europe/Helsinki:20191007T133000
DTSTAMP:20260713T040053
CREATED:20190826T122533Z
LAST-MODIFIED:20190826T122533Z
UID:12302-1570407300-1570455000@crest.science
SUMMARY:Matthew Jackson (Stanford University) - "What Makes Financial Networks Special? Distorted Investment Incentives\, Regulation\, and Systemic Risk Measurement"
DESCRIPTION:CREST Microeconomics Seminar :  \n\nTime: 12:15 pm – 1:30pm\nDate: 07th Oct. 2019\nPlace: Room 3001.\nMatthew Jackson (Stanford University) – “What Makes Financial Networks Special? Distorted Investment Incentives\, Regulation\, and Systemic Risk Measurement” joint work with Agathe Pernoud\n\nAbstract:\n“In a model of financial networks with both debt and equity interdependencies\, we show that financial organizations have incentives to: choose excessively risky portfolios; overly correlate their portfolios with those of their counterparties; and under-diversify in terms of choosing too few counterparties with whom to share risk. We also provide a measure of financial centrality in terms of how a given organization’s portfolio affects the values and defaults of other organizations. Additionally\, we characterize optimal regulation in terms of the use of reserve requirements versus bailouts\, and fully characterize the minimum bailouts needed to ensure systemic solvency.” \n\nOrganizers: \n\n\nRoxana Fernandez Machado (CREST)\, Marie Laure Allain (CREST)\, and Linda Schilling (CREST)\nSponsors:\nCREST\nLunch registration:\nfood provided\, no registration needed\n\n  \n
URL:https://crest.science/event/matthew-jackson-stanford-university-what-makes-financial-networks-special-distorted-investment-incentives-regulation-and-systemic-risk-measurement/
LOCATION:3001
CATEGORIES:Microeconomics
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