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CRETA is honored to invite Dr. Chi-fu Huang (黃奇輔博士) as a visitor on October 3 (Friday). During his visit, Dr. Huang will lecture on 1. Wholesale Capital Market Intermediation in Fixed Income: 2008 Crisis 2. Financial Crisis and Contagion: Leverage, Leverage, and Leverage on CRETA Workshop on Investment 02. The workshop is due to take place on October 3 (Friday) at Socrates, GIS NTU Convention Center (集思台大會議中心蘇格拉底廳). All participants are welcomed! Please be sure to register your attendance online by noon, Sept. 29 (Monday).
* Date: October 3 (Friday), 2014, 1:30 pm – 4:45pm
* Venue: Socrates, GIS NTU Convention Center (集思台大會議中心蘇格拉底廳)
* Topics: 1. Wholesale Capital Market Intermediation – Global Fixed Income Markets: 2008 Crisis
2. Financial Crisis and Contagion: Leverage, Leverage, and Leverage
(當天將開放現場繳交台灣經濟計量學會 2014 年年度會費)
The bankruptcy of Lehman's market-making businesses unleashed almost perfectly negatively correlated risks back to the hands of market players. Bundled together, aggregate market risks were very small. In separate and decentralized hands, the pressure on the market capacity to digest these risks at any one time could be humongous resulting in huge transitory price movements.
Understanding leverage is a key to understand financial crises and contagion.
Dr. Chi-fu Huang (黃奇輔博士) is the co-author, with R. Litzenberger, of Foundations for Financial Economics, a distinguished textbook for economics and finance graduate students. He is also a founder and the Non-Executive Chairman of Platinum Grove Asset Management L.P. (PGAM), an investment management company based in New York. He was a full professor and held the J.C. Penney Professorship in finance when he left MIT in the summer of 1994. Dr. Huang has made major contributions to the theory of financial economics, and has written on dynamic general equilibrium theory, intertemporal utility theory, and the theory of individual consumption and portfolio decisions. His research articles have been published in several prestigious journals, such as Econometrica, Journal of Financial Economics, Journal of Financial and Quantitative Analysis and Review of Financial Studies.
Oct. 3 (Friday), Socrates, GIS NTU Convention Center (集思台大會議中心蘇格拉底廳,台北市羅斯福路四段85號B1)
13:30-15:30: Lecture 1
15:30-15:45: Tea Break
15:45-16:45: Lecture 2