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The purpose of this White Paper of the EU Support Action “Visioneer”(see www.visioneer.ethz.ch) is to address the following goals: 1. Develop strategies to quickly increase the objective knowledge about social and economic systems 2. Describe requirements for efficient large-scale scientific data mining of anonymized social and economic data 3. Formulate strategies how to collect stylized facts...

Predicting panic is of critical importance in many areas of human and animal behavior, notably in the context of economics. The recent financial crisis is a case in point. Panic may be due to a specific external threat or self-generated nervousness. Here we show that the recent economic crisis and earlier large single-day panics were preceded by extended periods of high levels of market mimicry...

— This paper reviews 12 studies presented at a conference examining two broad themes: (a) the interplay between household coping strategies and the impact of crises and natural disasters on various dimensions of well-being (e.g., consumption and child nutrition); and (b) some of the exante and ex-post strategies that public agencies can adopt so they can be more effective in protecting househol...

Are countries with unregulated capital flows more vulnerable to currency crises? Efforts to answer this question properly must control for “self selection” bias since countries with liberalized capital accounts may also have more sound economic policies and institutions that make them less likely to experience crises. We employ a matching and propensity score methodology to address this issue i...

Often, systemic banking crises initiate from one or more banks and affect countries by rapid spreading in the banking network, financial markets and economy of countries. According to Reinhart & Rogoff (2009) in the book titled "This time is Different," financial crises are pointed as an equal opportunity menace for high-income countries and emerging markets. Although The International Mo...

This paper studies the long run effects of financial crises using new bank and town level data from around the Great Depression. We find evidence that banking markets became much more concentrated in areas that experienced a greater initial collapse in the local banking system. This con There is also evidence that financial regulation after the Great Depression, and in particular limits on bank...

Financial and economic history is strewn with bubbles and crashes, booms and busts, crises and upheavals of all sorts. Understanding the origin of these events is arguably one of the most important problems in economic theory. In this paper, we review recent efforts to include heterogeneities and interactions in models of decision. We argue that the so-called Random Field Ising model (RFIM) pro...

The rapidly evolving global economy as well as new challenges with economic and social implications make the problem of financial crises, including currency crises, extremely important in the current situation. Especially given the fact that the crises affect various countries and regions of the world. Serious currency crashes have occurred in developing countries with marked structural problem...

Predicting panic is of critical importance in many areas of human and animal behavior, notably in the context of economics. The recent financial crisis is a case in point. Panic may be due to a specific external threat, or self-generated nervousness. Here we show that the recent economic crisis and earlier large single-day panics were preceded by extended periods of high levels of market mimicr...