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p. 1168. The banking crisis and its aftermathlocked

  • Mark H. A. Davis

Abstract

What happened to the banks in 2008 and what has been the fallout for mathematical finance? ‘The banking crisis and its aftermath’ explains that for mathematical finance it has meant a complete reorientation. The traditional topics of pricing and arbitrage theory live on, and are still important, but are no longer the sole focus of research since fundamentally the theory is complete, and also because most of the more ‘exotic’ contracts have become unviable in the new regulatory environment. On the other hand, a whole raft of new questions concerning the behaviour and interaction of markets has opened up, and the implications of new technology—FinTech—must be taken on board.

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