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David Mordecai, President of Risk Economics, participated in an IAFE Liquidity Risk Committee Event on Financial Innovation, Complexity, Fire Sales and Panics

David Mordecai, President of Risk Economics, participated in the International Association of Financial Engineers (IAFE) Liquidity Risk Committee (LRC) Panel Discussion on Financial Innovation, Complexity, Fire Sales and Panics, on December 15th 2010, at Price Waterhouse Coopers, New York, NY. The panel was chaired by David K.A. Mordecai, and the other two participants were Alp Simsek and Roy Henrikkson.

After a brief introduction to the general topic by Dr. Mordecai, Dr. Simsek provided an overview of the work between his co-author Ricardo Caballero of MIT and himself from two of their joint papers: Fire Sales in a Model of Complexity and Complexity and Financial Panics. He followed with a synopsis describing his own work-in-progress on speculation and new asset innovations.

Dr. Henriksson then focused on the policy implications related to the effects of complexity on liquidity and forced asset sales, followed by some further discussion with Dr. Mordecai describing the practical relevance of Dr. Simsek’s research for understanding market and instrument complexity within the context of firesales and financial panics, and also moderated the general Q&A.

The Liquidity Risk Commitee (LRC) attempts to bridge the gap between different concepts of liquidity by organizing and sponsoring forums for discourse among academics, practitioners, and policy makers, and to promote the cultivation and dissemination of applied research relating to all aspects of liquidity risk that affect the stability and function of financial markets and institutions. The LRC is comprised of academics, practitioners, and policymakers involved in researching liquidity risk and its effects on market stability within the context of diverse institutional and industry settings, and in relationship to public policy.

David K.A. Mordecai is President and co-founder of Risk Economics, Inc., a New York City based advisory firm. Risk Economics® specializes in the application of computational economics to the proprietary development and scalable implementation of robust modeling and data analytic frameworks for valuation, strategic and systemic risk analysis, and dynamic asset-liability management.

December 16th 2010, New York, NY.

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