Special Issue for the European Economics and Finance Society Conference 2012 in Koc University Istanbul

摘要

The eleventh European Economics and Finance Society (EEFS) conference was held at Koc University. This lively conference had some 120 contributions in Economics and Finance. The material of the conference is broadly empirical. The special volume articles provide a representative snapshot of the conference which was focused on the recent financial markets crises and in a broad sense economic policy. It is intended that these articles provide some insights into the recent problems in the world economy and the financial markets. It is interesting to reflect five years after the failure of Lehman Brothers, that prior to the crisis none of the credit agencies had indicated that the institution was at risk and that the most recent filed accounts had not forced the bank into special measures or restructuring. Milne (2009) discusses the valuation over the crisis of the trances in complex financial derivatives such as Mortgage Backed Securities and Credit Default Swaps.