Economics centers sponsor key events on financial issues

University Park, Pa. — Global financial issues amidst the current economic turmoil are among the top issues highlighting several major events organized by Penn State's economics research centers, part of the College of the Liberal Arts.

Two Nobel Laureates in economics will be keynote speakers at this year's annual conference sponsored by the Center for the Study of Auctions, Procurements and Competition Policy from March 26 to 29 at the University Park campus.

Robert Engle, Nobel Laureate 2003 and the Michael Armellino Professor of Finance at NYU-Stern School of Business, will speak at the opening session on Thursday. On Sunday's closing session, Eric Maskin, 2007 Nobel Laureate and the Albert O. Hirschman Professor of Social Science at the Institute for Advanced Study, will speak on "Elections and Strategic Voting: Condorcet and Borda."

This is the second annual conference aimed at bringing together the top economics researchers in the world, particularly in the field of auctions and procurements, to address current issues. The Institute for Financial Studies is a partner host, and the Human Capital Foundation is the sponsor of the conference.

On April 3, The Center for the Study of Auctions, Procurements and Competition Policy also is co-sponsoring a conference on "Volatilities and Correlations in Stressed Markets" on April 3, at New York University's Stern School of Business.

Other sponsors are The Center for Research on International Financial and Energy Security, also in Penn State's Department of Economics, along with the FinEx Plus LLC, The Institute for Financial Studies and the Society for Financial Econometrics.

The Penn State economics faculty who will be attending are Robert Marshall, Barry Ickes, Isabelle Perrigne and Quang Vuong. Other speakers include Nobel Laureate Engle and representatives of Credit Suisse, Deutsche Bank AG, Nomura Securities International Inc., and FinEx Plus.

A recent panel, "After the Reset: U.S.-Russian Leadership for Global Financial and Energy Security," sponsored by The Brookings Institution in Washington, D.C., included three prominent experts affiliated with TheCenter for Research on International Financial and Energy Security, also at Penn State. The CRIFES focuses on global energy security in the context of the broader themes, namely, those of reforming the international financial architecture, global energy security and environmental policy.

The experts are Barry Ickes, Penn State professor of economics, nonresident Senior Fellow, The Brookings Institution, and director of the Center for Research on International Financial and Energy Security at Penn State; Andrey Vavilov, Chairman, Institute for Financial Studies, Russia Member, Committee on Budget Issues of the Russian Federation Council, and Clifford Gaddy, Senior Fellow, The Brookings Institution, both of whom serve as scientific advisors to the CRIEFES.

Last Updated March 25, 2009