Recent Developments in Behavioral Economics and Finance
摘要截稿:
全文截稿: 2018-07-30
影响因子: 1.591
期刊难度:
CCF分类: 无
Overview
The rapid development of financial systems is often attributed to the effects of financial innovation, the internationalization of capital markets, the evolution in financial regulations and intermediation, the development of emerging markets, the financialization of commodity markets, behavioral aspects of different risks including economic and financial imbalances leading to undesirable societal consequences such as informal/parallel/criminal activities that vary with the business cycle. Behavioral perspectives can help explain the deviations from the rational economic behavior encompassing various biases from rationality that exist in the contemporary globalized complex markets and economic systems. A range of behavioral outcomes can emerge from different economic imbalances, or certain type of behavioral assumptions can drive specific economic outcomes, requiring investigation. Given the recent financial downturn that triggered a major liquidity crisis, and consequently an economic recession for several developed and emerging countries, economists have already noted the failure and limitation of well-known models to detect and predict such deviations from rational assumptions. Thus, several models and methods have been developed including numerous sophisticated tools in mathematical finance, econometrics and computational economics in order to improve the modeling and forecasting of macroeconomic and financial time-series dynamics.
This is particularly crucial because the development of new tools and innovative methodologies can help improve trading, investment & financing decisions, equity modeling and risk management. In order to improve the comprehension of complex economic and financial systems and to enable the development of new approaches to forecast future dynamics, the recent developments in dynamic stochastic general equilibrium models have further improved the analysis of macroeconomic policies. The analysis of monetary policies has also benefited from the recent developments in database, time series and panel data econometrics.
This special issue of Journal of Economic Behavior and Organization in association with the recent 5th international Symposium in Computation Economics and Finance (ISCEF) (organized in Paris on April 12-14 2017 (www.iscef.com)) will enable bringing together academic contributions on these latest research issues in Bahavioral Economics and Finance.
In particular, we are looking for papers that study topics in the following areas: