The financial crisis in the Fall of 1998 was the first post-World War II crisis in which events in emerging market economies seriously threatened the financial stability of the West, and where the origins of the crisis was clearly to be found in the workings of liberalised markets and private sector institutions. The spark was the financial crisis that overwhelmed many of the Asian economies in...

The purpose of this position paper is to introduce the prototype of a design product knowledge representing system which is theoretically guided by our recent work on extending Function-Behaviour-Structure ontology. The basic constructions and data-storing strategies are presented in the paper along with its major interface, thus to give an outline of the working pattern of this system.

While there is an agreement that the Fordist accumulation regime has come to an end in the course of the 1970s, there is no agreement on how to characterize the post-Fordist regime (or if a such is already in place). The paper seeks put together various arguments related to financialization (in the broad sense) from a macroeconomic point of view and investigate the relevance of these arguments ...

We present a social simulation model that covers three main financial services: Banks, Retail Stores, and Payments systems. Our aim is to address the problem of a lack of public data sets for fraud detection research in each of these domains, and provide a variety of fraud scenarios such as money laundering, sales fraud (based on refunds and discounts), and credit card fraud. Currently, there i...

The purpose of this study is to investigate how the ECB sets interest rates in the context of both linear and nonlinear policy reaction functions. It contributes to the current debate on central banks having additional objectives over and above inflation and output. Three findings emerge. First, the ECB takes financial conditions into account when setting interest rates. Second, amongst Taylor ...

We describe a financial market model which shows a non-equilibrium phase transition. Near the transition punctuated equilibrium behaviour is seen, with avalanches occuring on all scales. This scaling is described by an exponent very near 1. This system shows intermittent time development with bursts of global synchronization reminiscent of a market rollercoaster.