"International w88 casino Young Teacher Lecture" starts, focusing on innovation drive and financial innovation
w88 casino News Network (Reporter Zhu Xinyi Photography Yuzhu) 2015Year11month19On the afternoon of the same day, the "International w88 casino Young Teacher Lecture" was jointly hosted by the Propaganda Department of the University Party Committee and the w88 casino of Finance2015The second lecture in autumn will be held on the fourth floor of the scientific research building. The lecture hall adopts the "Lecturer"+In the one-to-one review mode, six young teachers from the w88 casino of Finance focused on innovation drive and financial innovation, combining their own research results, research experience, and those present70More than a dozen young teachers interacted and shared their views.
Chen Jianxiang, deputy secretary of the w88 casino party committee, Zhang Xiaofeng, director of the Propaganda Department, Wu Weixing, dean of the w88 casino of Finance, and Zou Yasheng, secretary of the branch party committee, observed the entire event. The event was hosted by Xiao Xinrong, a young teacher from the w88 casino of Finance.
Bian Yang, Gong Di: ExplorationDSGEApplications and shortcomings of the model
Bian Yang, a young teacher in the Department of Finance, graduated from Georgetown University with a PhD. His research interests include macroeconomics, monetary policy, and real estate. He took the fluctuations in China's real estate as an example and told how "DSGEThe application and shortcomings of the model.DSGE, that is, the dynamic stochastic general equilibrium model, is widely used in macroeconomics. Bian Yang believes that usingDSGEModel analysis of China’s financial problems is a need to keep up with the mainstream of the world. Bian Yang established the Chinese real estate market model and obtained the factors affecting real estate fluctuations.DSGEThe advantages and disadvantages of the model were analyzed and compared, and it was pointed out that the advantages of this model are that it has a microscopic foundation, that it has the advantage of modularity, and that it can intuitively display the dynamic conduction process of each exogenous shock through the impulse response function. However, the inherent shortcomings of this model and the lack of market data will also lead to inaccurate results. Bian Yang believes thatSo far, built on solid micro foundationsDSGE, is the most reasonable and vital among the macro models. putDSGEIt is very necessary to introduce the analysis and formulation of Chinese policies, and at the same time, we must design policies with Chinese characteristicsDSGEModel and improve the data collection mechanism to make it consistent with China’s economic conditions. "DSGEThe model can not only study monetary policy, financial markets, but also real estate. If this model is applied to China, making it consistent with China's conditions, and able to simulate China's economic operation, this is an innovation.”
Gong Di, a young teacher in the Department of Finance who studies banking and financial intermediaries, financial supervision and asset securitization, affirmed its use in three aspectsDSGEThe significance of the model: first, this model is widely used; second, compared with traditional Keynesianism, it has a solid micro foundation; third, this model is in line with the development trend of economics. Gong Di said that the real estate market is the focus of social concern and one of the important factors affecting the financial market.DSGEThe model has universal applicability. Combining it with national conditions and introducing it into macroeconomic analysis is also an important expansion of the field of economic research. Gong Di also said that at present, our country still needs to improve infrastructure such as data collection in a timely manner to ensure economic research.
Wang Tianyi, Lan Hong: Research on volatility modeling and application based on realized measures
Wang Tianyi, a young teacher in the Department of Financial Engineering, graduated from the National Development Research Institute of Peking University with a PhD. His research interests are financial measurement, volatility modeling and application, he is“Volatility modeling and application based on realized measures”Introduced his research to the topic. He introduced concepts such as the definition of volatility, the ideas of traditional volatility models, and problems with traditional volatility models. Wang Tianyi emphasized that volatility will bring uncertainty, and uncertainty means risk, so volatility modeling is crucial in financial practice. "Volatility is also an eternal topic in financial theory practice." He used a large amount of data, charts, and cases to compare the effects of the traditional model with the improved model, and pointed out that the traditional volatility model has problems such as poor return information quality, high noise, extreme parameter estimation results, low information utilization, and slow response. The volatility modeling method based on high-frequency data can provide a new perspective. Models that use achieved measurement improvements are more suitable for markets with drastic fluctuations in volatility, which not only makes the research faster, but also improves the accuracy of the research. Relevant research in this area already has considerable theoretical value and direct application value.
Young teacher Lan Hong graduated from Humboldt University in Germany. Data methods of stochastic dynamic models and macro-finance are his research fields. Lan Hong affirmed Wang Tianyi’s research from four aspects. First, the improved model is more intuitive and easy to promote; second, high-frequency data is used to reveal the specific and true responses of variables in a deeper level; third, the improved model is very easy to predict and operate. Analysis can be done using simple tools; fourth, the broadness of the principles used in the new model is a very clever choice. Lan Hong also believes that this model can also be applied to various fields such as macroeconomics and is very worthy of promotion.
Sun Yanmei, Dong Yi: FocusScientific research based on big data supports China’s innovation
Sun Yanmei, a young teacher in the Department of Investment, focuses on corporate finance, asset pricing and economic policy research. The theme of her speech was "Scientific research based on big data supports China's innovation". Sun Yanmei said that in the era of "mass entrepreneurship and innovation", "innovation" and "big data" are the two words that appear most frequently. Data is massive, and the value density of the data itself is low. Useful rules and information need to be mined from it. The research team's focus on big data mainly stems from the rich data resources and corresponding research support provided by big data itself. Therefore, we hope to use certain tools to dig out the "treasures" of big data, "awaken" it, and conduct in-depth mining, processing and refining of big data to provide support for financial and economic development. Sun Yanmei combined a large number of research cases to explain in detail the significance of big data for financial innovation from aspects such as central bank monetary policy, financial system innovation, capital market investment decisions under big data, quantitative investment fields, and corporate decision-making in data. She also introduced the achievements of the young teacher team of the w88 casino of Finance in using big data to carry out financial research.
Dong Yi, a young teacher whose research fields focus on investment limited attention, information processing costs and financial analysts, commented. She affirmed Sun Yanmei’s research on big data and proposed that in the new media era, the media can have a huge impact on investors’ emotions and many other aspects. Dong Yi believes that using the coverage of big data media information to build investment strategies is very widely used. It is necessary to establish and improve an investment mechanism based on big data research and combine it with practice.
Wu Weixing: Apply what you have learned to strengthen exchanges and cooperation
Wu Weixing, Dean of the w88 casino of Finance, made a summary. Wu Weixing pointed out that the Young Teacher Lecture Hall of the University of International w88 allowed young teachers to showcase their talents. The w88 casino of Finance has a group of outstanding young teachers. Their research fields are different and their research directions are different. However, they have created sparks during exchanges and interactions, and have produced a number of innovative financial research results. “How do young teachers conduct research?” Wu Weixing believes that the fine tradition of w88 casino is to apply what we learn, to combine practice with theory, and to combine basics with practicality. At the same time, "as long as there is communication, there will be new results." He hopes to strengthen the exchanges between young teachers inside and outside the w88 casino, promote multi-disciplinary integration, enhance the innovation ability of scientific research, and promote research results to have a new impact on the economics and finance circles.
The "Young Teacher Lecture Hall of the University of International w88 and Economics" has attracted the attention of China Youth Daily, Securities Daily and other media. Teachers participating in the meeting said that the atmosphere of this event was warm and lively, the format was novel, and they benefited a lot from the exchange and discussion on academic issues. from2013Year916689_16799
