Advancing the Field of Quantitative Finance
formerly the IAFE

Event: IAFE Liquidity Risk Committee Event: Financial Innovation, Complexity, Fire Sales and Panics
Date: December 15, 2010
Time: 5:30pm Registration, 6:00pm - Panel Discussion, 7:30pm - Reception


300 Madison Avenue
New York


The IAFE Liquidity Risk Committee is pleased to invite you to

A Panel Discussion

Financial Innovation, Complexity,
Fire Sales and Panics

5:30 - Registration
6:00 - Panel Discussion
7:30 - Reception



Roy Henriksson

Principal and Chief Investment Officer
Advanced Portfolio Management

Co-Chair of the IAFE Liquidity Risk Committee

Alp Simsek

Assistant Professor of Economics

Harvard University


Session Chair:

David K. A. Mordecai
Risk Economics Limited Inc. and Compass Lexecon

Co-Chair of the IAFE Liquidity Risk Committee

After a brief introduction to the general topic by Dr. Mordecai, Dr. Simsek will provide 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 will follow with a synopsis describing his own work-in-progress on speculation and new asset innovations.

Dr. Henriksson will then focus 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 moderating the general Q&A.

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