Is the financial system fit for purpose?

Our next meetings asks “Is the financial system fit for purpose?” and will be held on Tuesday 23 January 2018 from 14.00 pm to 18.00 pm at NIESR in London. The format of the meetings consist of brief introductory remarks which set-up a series of discussions in which all participants join in. We will have four sections: (1) institutions and macroeconomic performance; (2) behaviour and financial stability; (3) finance and macroeconomic policy; (4) open economy finance.

background note


To many, the financial system seems to act more as a casino, instead of providing capital for welfare-improving projects. What is the role for finance and how do we judge its success? How do we make changes so that it better fulfils its function? Is risk created within economic systems and can this be modelled to generate helpful predictions? Households are managing more economic risks than ever, to income, housing, pensions, education costs, etc. Does our financial system support households in managing these risks? This is an opportunity for fresh thinking about finance in light of the crisis.

Venue: NIESR, National Institute of Economic and Social Research, 2, Dean Trench Street, London SW1P 3HE

Time: 2.00 pm – 6.00 pm

Provisional schedule of the day’s events:

1.30 pm – Registration

2.00 pm – Start and introductions

2.10 pm – Finance and Stability

Introducers: Timothy Johnson / Angus Armstrong

3.00 pm – Finance and Monetary Policy

Introducers: Rosa Lastra / Andrew Mullineux

3.50 pm – Tea break

4.10 pm – Finance and the International Economy

Introducers: Alan C. Taylor / Anton Korinek (By Video)

5.00 pm – Finance and Institutions Policy

Introducer: Franklin Allen

5.50 pm – Summary and final comments

6.00 pm – Reception

Introducers to each session are asked to make opening comments lasting no more than 5 minutes with the aim of framing the discussion.

Registration will be open from 1.30 pm, and we will start promptly at 2.00 pm. The event will be followed by a small reception, with wine and snacks from 6.00 pm.

Prior registration is necessary in absolutely all cases. We cannot admit anyone who has not registered in advance. To find out more contact:

20 January 2018