ABM on Financial Market regulations

[Konrad_Richter]

Hi everybody,

     Next march I will want to start with my PhD. As a theme I was thinking
about the modeling and assessment of different ways of "taming" the
financial markets (i.e. by which mechanisms could volatility in financial
markets be decreased and currency speculation be impeded).
     As a concrete example think about the Tobin Tax: This tax,suggested by
Nobel laureate Tobin is a small fee on every transaction where currency
needs to be converted (0,1-1 promille of transaction value). The small
value of this tax guarantees that long term investments in emerging markets
are not impeded but that only short term speculation on a day-to day-basis
is decreased. The total sum of raised money (estimates range between 50 and
300 billion USD per year) could be used on projects of international
relevance like e.g. decreasing the debt load of emerging markets). ABM
could here be used to determine the optimal height of this tax in terms of
decreasing currency volatility, ensuring the availability of long term
investments and quantitiy of raised money.
     The Tobin Tax might be very difficult to install since agreement of
all major finfncial centers would be needed. However, there are several
other possibilities for decreasing the volatility of financial markets
which I would like to do research on.

     My questions now are twofold:
1)Has anyone of you done financial market simulations in SWARM? (I think,
it might not be too different from the Stock market model, however, one
would certainly need to consider that there is a multitude of currencies-
not only one, and one would also need to consider the role of central banks
and investment into the "real" economy)
2) Do you know of people who might be interested in taking care of a
dissertation theme like that

Very many thanks for your answers,
     Konrad

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