Towards a Sustainable Global Financial System

We understand the financial system as a tightly coupled complex system. For managing systemic risks of this system, a sufficiently thorough understanding of contagion in financial networks is key. Likewise, for governing systemic risks, we need to better understand how alternative design paradigms for and underlying technologies of the financial system effect contagion, i.e. whether specific design schemes and technologies rather favor or hinder contagion.

Accordingly, we have organized our workshop into three topics.

• We shall start with looking into alternative design paradigms for the financial system, drawing on insights from systems science and economic history.
• We shall continue by discussing cutting edge science concerning financial network modeling.
• The third topic is devoted to trade analysis and to the study of new transaction procedures and their potential impact on the architecture of the financial system.

This workshop is set to contribute to the ongoing discussion of the role of financial institutions, regulatory authorities, and the nation states when it comes to safeguarding the financial system.