4th Tinbergen Institute Conference

The fourth annual Tinbergen Institute Conference will be held in Rotterdam, The Netherlands, on March 13-14, 2009.Financial markets occasionally experience sudden and large declines in asset prices. A crucial feature of such sudden crash events is that they are contagious in nature and spread rapidly to other markets, potentially leading to global financial instability. Moreover, the impact of financial crashes may not be restricted to the financial sector only. Systemic crises in the banking sector or in the institutional investment sector may have substantial and unexpected spill-overs to the real economy. The recent sub-prime crisis, originating from the US mortgage market, is a typical example in this respect, threatening economic growth worldwide through the instability in the banking system. The conference aims to bring together leading researchers on crashes and systemic crises in financial markets to discuss recent developments in this area. [link].