Finance and Economics

Remit

The remit of the group is intentionally broad, to cover work relating to new data sources, new analytical techniques, resolution of existing shortcomings as well as other areas which are identifiable as benefitting from the attention of a collaborative approach:

• To provide a cross-disciplinary forum for discussing the actual and potential use of statistics and statistical methodology in finance, economics, actuarial, quantitative finance, econometrics and financial mathematics  
• Explore different perspectives between those interested in large aggregate statistics and others who are concerned with getting to grips with very large data sets such as retail credit and financial markets 
• Identify opportunities for the bridging of different skill sets between the two groups and developing opportunities for cross fertilisations 
• To identify opportunities for interaction with the financial sector and helping members maintain knowledge of current practice and issues in the sector 
• Identify where benefit can be gained from further input of statisticians into financial mathematics 
• The use of new data sources and methods to improve the production of public statistics especially in new applications, such as how consumer finance markets are working 
• Consider how joint approaches by statisticians and economists might contribute to topical interests e.g. equality, pensions, health, cryptocurrencies, gender/ethnic pay gaps 
• Consideration of issues relating to propriety data and data availability and attempting to develop practical solutions and source novel kinds of data to circumvent such issues, e.g. estimation techniques for sparse data 
• Develop partnerships around the production and use of social and socio-economic statistics including development and wellbeing data 
• Provide advice to interested parties who have related issues to consider.