This session discusses how science can help even on issues such as the financial crisis. It advocates the use of economic and financial models as valuable tools to gauge the collective impact of the proposed banking regulatory changes, and to ensure the overall consistency and thus efficacy of the complete package of measures.
Financial models have been too often labelled as ‘bad’ tools, as they are associated with the idea of tools in the hands of speculators. But financial models, in proper hands, become a valuable tool for robust policy making.
This session will contribute to the debate on the use of models for the reform of the banking system by presenting the point of views of the academic financial modellers, of the European Commission scientists who deploy models for policy impact assessment, and of practitioners from the banking industry.
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