Work on banking system stability wins best paper prize

Miguel Leon-Ledesma, Professor of Economics in the School, together with colleagues from the School of Engineering and Digital Arts, has won a best paper award at the 5th International Conference of the Financial Engineering and Banking Society (11-13 June 2015).

The work was motivated by the financial crisis and the two Schools have been developing a model of the banking system, which includes the interconnections between banks and their effect on the stability of the overall system.  This dynamic model extends previous work on network models of the banking system and it takes inspiration from large-scale, complex, interconnected systems studied within the domain of engineering. The ultimate goal of the work is to be able to inform recommendations to financial regulators and operators to help preserve financial stability.

Click here to view the announcement on the conference website.