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Events

Find out about events organised by the Bristol Centre for Economics and Finance (BCEF).

Upcoming events:

Workshop on history, money and the macroeconomy: Discussing recent trends in contemporary political economy

Date: Thursday 28 June 2018
Venue: Room 5X104, Bristol Business School, UWE Bristol (Frenchay Campus)

This workshop addresses new research frontiers in pluralistic economics, expanding the connections between UWE Bristol and Panthéon-Sorbonne University (Paris). It relies on the interaction between political economists and young scholars, seeking to promote strong research networks and consolidating already established ties.

Registration is free - if you like to attend, please email Danielle Guizzo at danielle.guizzoarchela@uwe.ac.uk with your name and affiliation by Friday 22 June 2018.

Schedule:

09:00–09:30: Welcome from Departmental Leaders and presentation from the Organising Committee

09:30–11:00: Presentations I – Critical macroeconomics: 

  • Francesco Sergi (Paris 1/University of Bristol) “The DSGE Models and the Lucas Critique. A Historical Appraisal” (Discussant: Jo Michell) 
  • Aurélien Goutsmedt (Paris 1) “Robert Gordon and the Integration of the Natural Rate of Unemployment in a Keynesian Framework” (Discussant: Lotta-Takala Greenish) 
  • Daniel Bastidas (Paris 1) “The GEMMES project, an application to Brazil” (Discussant: Danielle Guizzo)

11:30–13:00: Presentations II – Financialisation: 

  • Sudeep Jain (UWE Bristol) “Demonetisation in India and The Rise of Digital Financialisation” (Discussant: Susan Newman) 
  • Guillaume Kremer (Paris 1, CES) and BT “Financial innovations and macroeconomic stability, an assessment of securitization and coco-bonds” (Discussant: Yannis Dafermos) 
  • Susan Newman (UWE Bristol) “The making of a global commodity: A political economy of dairy restructuring” (Discussant: Aurélien Goutsmedt)

13:30–14:30: Lunch

14:30–16:30: Presentations III – Ideology, power and the role of the state:

  • Aurélien Goutsmedt (Paris 1), Danielle Guizzo (UWE Bristol) and Francesco Sergi (Paris 1/University of Bristol) “Neutralizing ideology with science: Robert E. Lucas Jr in the public debate” (Discussant: Susan Newman) 
  • Lotta Takala-Greenish (UWE Bristol) “Exploring worker power across formal and informal small and micro-enterprises: Insights from work organisation in waste collection, essential oils and clothing sectors in South Africa” (Discussant: Francesco Sergi)
  • Nicolas Pinsard (Paris 13) and BT “The birth of the state between the Administration and Finance: On the venality of offices in France in the 16th and 17th centuries” (Discussant: Mary Wrenn)
  • Jo Michell (UWE Bristol) (with Cahal Moran) “Reinventing the heterodox wheel: Mainstream macroeconomics since the crisis” (Discussant: Bruno Tinel)

16:45–17:45: Roundtable discussion: Building new pluralistic research frontiers

18:00–19:00: Welcome drinks at the UWE Bristol Student Union (SU), followed by dinner in the city centre

Workshop organisation: 

Recent past events include:

Research seminar: Europe's productivity conundrum: Cyclical, structural or both?

Date: 23 April 2018
Venue: Room 6X109, Bristol Business School, UWE Bristol (Frenchay Campus)
Speaker: Jeremy Batstone-Carr
Further info: See presentation slides and notes for the talk.

Research seminar: The complexity approach to Post Keynesian macro modelling

Date: 13 October 2017
Venue: Room 5X100, Bristol Business School, UWE Bristol (Frenchay Campus)
Speaker: Corrado Di Guilmi (University of Technology Sydney)

British Accounting & Finance Association (BAFA) South West Area Group Annual Conference 2017

Date: 7–8 September 2017
Venue:  Bristol Business School, UWE Bristol (Frenchay Campus)
Keynote speakers: Professor Pengguo Wang (University of Exeter), Professor Ian Tonks (University of Bath)
Further info: See event flyer 

Office for National Statistics/UWE Bristol business breakfast 'Understanding the digital economy'

Date: 26 April 2017
Venue: Arnolfini
Speakers:

Call for papers - EcoMod Conference

EcoMod Conference, Venice
4–6 July 2018
Special session on 'Climate risks and financial stability'

There is growing awareness among financial practitioners, regulators and central bankers of the potential negative implications of climate risks for prices and financial stability, and the need of tailored metrics and methods for portfolios’ climate-related financial disclosure. On the one hand, climate change could induce financial losses for the insurance and the banking sector as a result of climate-related events (such as droughts, hurricanes and floods). On the other hand, the transition to a low-carbon economy could lead to a re-pricing of carbon-intensive assets and thus to financial problems for companies whose revenues depend directly or indirectly on fossil fuels, with wider implications for financial stability.

Recent studies conducted both by academics and central banks show that the exposure of the financial system to climate risks is considerable (Dietz et al., 2016; Regelink et al., 2017). In particular, the first climate stress-test of financial portfolios shows that the exposure of investors’ portfolios to carbon intense assets could reach even 45% for pension funds and investment funds (Battiston et al., 2017). Moreover, such a climate-related financial risk could be amplified by financial interconnectedness, raising concerns on systemic financial stability (ESRB 2016).

In 2015, Mark Carney, the Governor of the Bank of England, pointed out that climate change is very likely to impose significant risks on prices and financial stability (Carney, 2015), a concern that was later shared by a growing number of central bankers (eg Villerov de Galhau, 2015; Dombret, 2017; Draghi, 2017; Signorini, 2017). Further, the G20’s Financial Stability Board established a Task Force on Climate-Related Financial Disclosure (TCFD) that has already made sector-specific recommendations to foster companies’ voluntarily disclosure of climate-related financial risks, and has also recommended new metrics and methods (eg climate stress-tests) to better inform their investors, lenders and insurance underwriters (TCFD, 2017). In order to mitigate climate-related financial risks, a transition to sustainable finance was advocated by the European Commission’s High Level Experts Group on Sustainable Finance (HLEG), that recommended the consideration of new policies and financial regulations (eg differentiated banks’ capital requirements for green and carbon-intense assets) and the introduction of green financial instruments (eg green bonds) and metrics for climate-related financial disclosure (HLEG 2018).

Despite this growing interest in climate risks and financial stability, academic research on these issues is still limited. In order to fill this gap, the International Conference on Economic Modelling (EcoMod) is organising a special session on ‘Climate risks and financial stability’. We welcome contributions that focus both on the physical and the transition climate-related financial risks using network analysis, agent-based approaches, macroeconomic dynamic modelling and econometric approaches. We also welcome contributions that analyse climate-related developments in the financial markets (eg the green bond market) and the conditions under which the gap between finance and sustainability could be reduced thanks to central banks’ policy tools (eg unconventional monetary policies such as the quantitative easing, and collateral framework) and macroprudential regulation (eg by including green supporting factors or brown penalising factors in banks’ capital requirements).

The papers that will be presented at the special session might be considered for a special issue in a top-tier finance journal (talks ongoing with the Journal of Financial Stability).

Abstracts (300-500 words) should be sent via email to Yannis.Dafermos@uwe.ac.uk and Irene.Monasterolo@wu.ac.at by Monday 21 May 2018. Notifications will be emailed out by Monday 28 May 2018.

Special session organisers: Stefano Battiston (University of Zurich), Yannis Dafermos (University of the West of England) and Irene Monasterolo (Vienna University of Economics and Business).

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