The 11^th Frontier Forum for Digital Technology and Finance

Abstract:

In recent years, computational experimental methods have been widely used in the field of financial and economic system modeling. Compared with the traditional DSGE model, the computational experimental modeling can fully reflect the heterogeneity of micro-agents and better describe the micro-behaviors of investors, which has natural advantages in financial and economic system modeling and policy simulation. This paper reviews the work progress of financial economic system modeling and policy simulation based on computational experiments, further analyzes the current mature computational experimental modeling platform and large artificial financial economic system, and then collates and analyzes the literature on this topic based on the bibliometric method, and finally looks forward to the future development direction of computational experimental financial economic system modeling. There are four possible contributions as follows: (1) Analysis of computational experimental modeling method, highlighting its advantages in financial and economic system modeling and policy simulation. (2) The relatively mature computational experimental modeling platforms and artificial financial economic systems are sorted out, and reference materials are provided to relevant scholars to facilitate their selection of appropriate computational experimental modeling platforms for research. (3) Based on the bibliometric method, the literature in this field is sorted out and analyzed, and the development of computational experimental financial economic modeling is described in general. (4) Proposed the future research direction of constructing the simulation platform of China's financial and economic policies by combining the computational experiment method with DSGE.

Speaker Introduction:

Xiong Xiong is a Professor, doctoral supervisor and Deputy Director of the School of Management and Economics, Tianjin University. His research interests include big data finance, computational experimental finance, enterprise development and financial strategy. He served as the Deputy Secretary-General of Chinese Society of Systems Engineering and director of Financial Systems Engineering Committee, Vice President of Decision-making Branch of China Operations Research Society, Vice Chairman of Quantitative Finance and Insurance Branch of China Association of Selective Law and Economic Mathematics, Vice Director of Financial Technology Professional Committee of China Society of Information Economics. He has published more than 80 academic papers and 2 monographs. He has presided over more than 10 national, provincial and ministerial projects, including key projects funded by the National Natural Science Foundation. He is currently leading the major special project of the National Natural Science Foundation of China "Computational Experimental Modeling Research Based on the Complex Correlation between China's 'Real Economy and Financial System'" (2022.01-2026.12). He was awarded the "New Century Excellent Talent Support Program" by the Ministry of Education in 2007, and won the Tianjin Youth Science and Technology Award in 2010. In 2017, he led the "Big Data Financial Quantitative Team" to be selected as the "High level Innovation and Entrepreneurship Team" in Tianjin.