Robert F. Engle, Prix Nobel d'économie 2003 et Professeur à NYU Stern School of Business, donnera une conférence sur le sujet "Systemic Risk with Endogenous Cycles".
La conférence a lieu sur le campus de l’Université de Lausanne, Quartier de Dorigny (arrêt de métro UNIL-Dorigny), Bâtiment Anthropole, auditoire 1031.
Résumé du sujet de la conférence:
"When financial institutions are undercapitalized they are not only vulnerable to external shocks, but they may inadvertently generate such shocks. When financial institutions act to improve their capital structure, they may induce exactly the financial crisis that regulation seeks to prevent. The economics of systemic risk cycles will be discussed along with empirical evidence. The cycles can be observed in both the downward and upward direction. From this point of view we can develop a measure of the distance to crisis as a way to assess how close an economy is to a financial crisis."