Tilbake til søkeresultatene

FINANSMARK-Finansmarkedet

The IAAE 2023 Annual Conference at BI Norwegian Business School, 27-30 June 2023

Tildelt: kr 0,18 mill.

Fra 27. til 30. juni 2023 var Handelshøyskolen vertskap for den årlige forskningskonferansen til International Association of Applied Econometrics (IAAE). Den årlige IAAE konferansen er en ledende internasjonal møteplass for nyvinninger innen anvendelsen av økonometri for å belyse økonomiske, finansielle og andre relaterte spørsmål. Det var totalt 515 registrerte deltakere, og 129 plenums- og paralellsesjoner. Ca. 460 vitenskapelige arbeider ble presentert i løpet av de fire dagene konferansen varte. Av de totalt 129 plenums- og paralellsesjonene, så hadde minst 36 av dem (ca. 141 arbeider) en direkte kobling til finansielle markeder (f.eks. valutakurser, aksjemarkeder, volatilitet), monetærpolitikk (f.eks. inflasjon, sentralbanker) og finansiell økonometri. I tillegg dekket mange av sesjonene emner med en indirekte relevans for finansielle markeder (f.eks. makro, business cycles, prognosemaking, panel- og tidsseriemetoder, instrumentellvariabel metoder). Hovedforedragsholderne ("keynote speakers") holdt et meget høyt nivå, og besto bl.a. av Lars Peter Hansen (Nobels minnepris i økonomi 2013) og Tim Bollerslev (oppfinner av den finansielle volatilitetsmodellen GARCH(1,1)). Mer detaljer er inneholdt på nettsiden til konferansen: https://www.bi.edu/about-bi/events/2023/june/iaae2023/

Numerous papers addressed, directly or indirectly, the challenges of technological change and the continuous increase in new data. That the scientific innovations at the conference help financial market participants handle the challenges is documented by the fact that many participants (about 20%) work for the industry. Particularly prominent examples are Hashem Pesaran (Cambridge/Davis) and Yacine Ait-Sahalia (Princeton), who both work for hedge funds. Also, the international company Amazon (https://www.amazon.com/) was actively hiring people at the conference. The conference was truly international, since we had participants from all continents (Africa, Asia, Australia, America and Europe). The scientific programme, together with the social events, are expected to stimulate numerous cross-border collaborations. This is also the case for BI, since both young (PhD) and established researchers from three academic departments (Data Science, Economics and Finance) attended the conference. We were not very successful in attracting Norwegian policymakers and businesses to attend the conference. We are a little bit puzzled by this. One hypothesis is that the timing of the conference was not optimal, since a common feedback we received was that Norwegians are usually on summer holidays during the period 27-30 June. We received very positive feedback regarding BI. Indeed, a prominent scholar suggested we "should have a conference every year!". One of the IAAE directors commented "you have raised the bar", and another stated we had arranged "the best IAAE conference ever". The positive impression of the participants is believed to help us attract highly qualified students and faculty in the future.

The aim of IAAE is to advance the education of the public in econometrics and its applications to a variety of fields in economics, including financial markets. The annual conference brings together leading international researchers, and the IAAE has close ties to the highly regarded Journal of Applied Econometrics (JAE). The JAE has published numerous articles on financial markets and financial econometrics. The IAAE annual conference plays an important international role in financial markets research. A substantial part of the empirical research is directly connected to financial markets, and methodologically the field of econometrics provides financial markets researchers with many of their most important statistical tools (e.g. General Method of Moments (GMM) estimation, robust standard errors and volatility models). In 2021, for example, at least 35 parallel sessions comprising about 140 presentations had a direct connection to the empirical workings of financial markets (e.g. exchange rates, volatility, monetary policy, etc.) or to financial econometrics. Additionally, many sessions covered topics with an indirect connection to financial markets research (e.g. macro uncertainty, business cycles, forecasting, panel and time series methods). The IAAE annual conference is therefore a leading international venue for the presentation of new empirical financial markets research, and for the presentation of new econometric methods of relevance to financial markets researchers. We expect the IAAE 2023 annual conference to gather 350 researchers or more. The scientific part will consists of eight keynote speakers, and hundreds of paper presentations in parallel sessions. The conference will also contain several social events thus providing ample opportunities for networking, informal meetings and discussions. This is crucial for the initiation of academic collaboration across borders, institutions and disciplines.

Budsjettformål:

FINANSMARK-Finansmarkedet