Description du projet
Calibrer les politiques macroprudentielles pour réduire les inégalités sociales
Destinées à prévenir l’instabilité du système financier, les politiques macroprudentielles en augmentent la résilience. Le projet MACROPRU, financé par l’UE, examinera la relation entre les politiques macroprudentielles et les inégalités sociales. Il appliquera des techniques de simulation de pointe basées sur les agents pour mettre en évidence les effets redistributifs des politiques macroprudentielles. Du point de vue du bien‑être social, l’objectif du projet sera d’identifier l’optimalité des outils macroprudentiels. Les résultats éclaireront les conclusions tirées des tests de résistance à l’échelle du système effectués par la Banque centrale européenne (BCE) à des fins macroprudentielles. Les résultats conseilleront également les décideurs politiques et les banquiers centraux sur la manière de calibrer les politiques macroprudentielles afin de minimiser leurs effets sociaux négatifs et de réduire les inégalités.
Objectif
"The primary aim of the action is to investigate how new macroprudential policies can influence financial stability without contributing to inequality in society. In this project we aim to apply cutting-edge, agent-based simulation techniques to uncover the redistributive effects of macroprudential policies and to examine the combination optimality of the macroprudential tools from the social welfare perspective. The results of this project will complement the conclusions extracted from the ECB system-wide stress-testing exercises by providing data on the rise of inequality in EU countries due to the adoption of new financial regulations. It will also supplement the macroeconomic impact assessment for the Basel III reforms (cost-benefit ""Growth-at-Risk"" approach).
This project expands our knowledge about a new, innovative tool, namely agent-based modeling, that can be used in financial oversight. It provides us with the practical knowledge of how to take into account the heterogeneity of the agents in the models and how to apply new Bayesian estimation techniques. The results of the project may guide policymakers and central bankers on how to reshape financial regulations and to calibrate macroprudential policies in order to minimize adverse social effects and to reduce inequality (by supporting a social policy). The project is consistent with the European Commission’s support on research programmes on the public sector and social innovation that is described in the Europe 2020 Flagship Initiative Innovation Union.
The researcher will be fully integrated into Prof. J. Doyne Farmer’s team at the INET Oxford and at the Mathematical Institute of the University of Oxford. The Curie IF will give the applicant the opportunity to perform relevant and state-of-the-art research in the best institute of complexity economics in the world, to re-enforce her position as an independent research group leader and to initiate new long-term collaborations."
Champ scientifique
Mots‑clés
Programme(s)
Régime de financement
MSCA-IF - Marie Skłodowska-Curie Individual Fellowships (IF)Coordinateur
OX1 2JD Oxford
Royaume-Uni