The Bank of Spain Chair in Computational Economics arises from a collaboration agreement signed in 2011 between the University Jaume I and the Bank of Spain, in the framework of the second edition of the Program "Bank of Spain - Excellence in Education and Research in Monetary, Financial Economics and Banking". The Chair is headed by Professor Thomas Lux from University of Kieland Kiel Institute for the World Economy, and directed by Professor Simone Alfarano from Department of Economics of University Jaume I.
The Chair promotes the creation of a group of researchers from UJI working on issues of Banking, Monetary and Financial Economics, with an additionally training program for young researchers in this field. Moreover it promotes the computational methodology to students at Master level. Within its research agenda, the Chair's main objective is to provide a scientific basis for the reform the regulation of the banking system, in order to obtain a better assessment and management of systemic risk in the financial sector. To achieve this goal, the researchers at the Chair analyze the functioning of the banking sector, the potential risk of contagion between banks, as well as the danger posed by a collapse of financial institutions for the real economy. Research in this area is based mainly on two pillars: on the one hand, studying the connections of the global financial sector and its potential destabilizing role for the real economy, on the other hand improving the understanding of the behavior of the different actors in the financial markets.