Nobel Laureate in Economics, Professor Robert Engle of New York University speaks at TCD International Finance Conference

Posted on: 10 June 2009

Over 160 papers in all areas of international finance were presented at the 7th Annual INFINITI conference in TCD over two days on  June 8th and 9th last. This is the largest conference of its kind worldwide focusing on international financial integration with over 250 delegates from 50 countries attending the conference.

Highlights included an address by 2003 Nobel Laureate in Economics, Professor Robert Engle of New York University on extremes of downside and upside risk. In particular his work looks at how these risks act as both a possible systemic channel for mitigating financial crises and also as a channel whereby negative linkages can be exacerbated.

Another keynote was presented by Professor Roberto Rigobon, of MIT, on the lessons that can be learned from the present crisis. His talk focused on the channels that distributed the initial crisis, and on how regulation can and cannot assist in designing institutions for the future.

The conference was launched by Dan O’Brien, Senior Editor, Economist Intelligence Unit.  He discussed the challenges facing the Irish and international financial system over the next three years.

In addition to the keynote sessions, a number of special sessions also took place.

‘Moral Hazard in International Finance’: This session featured experts in psychology, ethics and finance exploring issues around the role of “moral hazard” the phenomena that individuals and entities which are shielded from the downside of risks will act accordingly, even though such actions may well propagate a crisis. Speakers included Sam Glucksberg, Emeritus Professor of Psychology, Princeton University ; Nimi Wariboko, Katherine B Stuart Professor of Christian Ethics, Andover Newton Theological School (ANTS); Colm Kearney, School of Business , Trinity College Dublin; Scott R Paeth, Religious Studies, DePaul University .

‘Asset Management and International Volatility’  this  session  explored both the role of volatility in shaping our views on the appropriate level of assets in various classes, volatility as an asset itself and how and if it is possible to forecast volatility. Speakers for this included Diego Franzin, Head of Global Quantitative Research & Management, Pioneer Investment Management Ltd ; Joe Naughton, Head of Structured Products, Allied Irish Banks plc; Giuseppe Insalaco, Entrepreneur ; Marco Lazzarino, Head of Strategy Management Desk, MPS Asset Management Ireland Ltd.