» RI-ASEAN must consider ASEAN-Eurosia Economic Cooperation as an alternative in dealing with sharpening competition between US and China in Asia Pacific » Although already apologizing, Japan is still showing aggressive and expansionistic character » State defense training must tackle asymmetric warfare and new style of colonization launched by foreign parties » Indonesia and ASEAN must play active roles to reject US diplomatic maneuvers in isolating North Korea » Uranium, Freeport McMoran and Indonesia


Education
21-02-2017
Nobel winner Engle III receives honorary degree from Indonesian university

The Nobel Prize winner in Economics in 2003, Professor Robert Fry Engle III, has received an honorary doctorate degree from the Rector of University of Airlangga (Unair), Surabaya, Professor M Nasih, before delivering a guest lecture at the university on Monday.


"Engle III is the first Nobel Prize who was awarded an honorary doctorate by the University of Airlangga," Nasih stated.

He added that the honorary doctorate was a token of appreciation for Engle IIIs contribution towards developing science, particularly economics.

"We are presenting the honorary doctorate to Professor Engle III for his works in developing science, particularly a method that could save countries from economic crisis," Nasih noted.

The method detects economic volatility using Autoregressive Conditional Heteroskedasticity model developed by Engle III and his colleague Professor Clive W.J. Granger of the University of California San Diego (UCSD).

By using the method, researchers and practitioners can make predictions about the state of the economy, particularly finance, based on time series.

In his lecture, Engle III, who is a lecturer and researcher from the Stern School of Business, New York University, described the prospect of global financial stability.

In a public lecture entitled "The Prospects for Global Financial Stability," he explained that turbulent volatilities happen in some countries of the world.

"Financial risks should not be eliminated, because financial markets will not work if there are no risks. However, financial institutions need to be aware of systemic risks," he asserted.

He added that a failure will occur when an institution fails to meet its obligations, resulting in consequences in real economic sectors.

In order to avoid volatility, Engle recommended the government to ensure that financial institutions have capital to cope up with the crisis.

In addition, a state should also have capital cushions for financial rescue, if crisis occurs.

"Hopefully, when a systemic financial crisis could be avoided, then the road to peace will be more open," Engle concluded.



Related Article
» Indonesian teachers to study education system in Australia
» More ASEAN students expected to study in China
» Meet UWs youngest student: Diki, age 12
» C.Java boarding school rejects Turkish closure request
» Enhance vocational education to compete in AEC: experts
» Indonesia to learn vocational education from Germany: Minister



 

Advance Search

   Hot Isue»
RI-ASEAN must consider ASEAN-Eurosia Economic Cooperation as an alternative in dealing with sharpening competition between US and China in Asia Pacific
...

Although already apologizing, Japan is still showing aggressive and expansionistic character

Indonesia must persuade North Korea to be moderate and soft

China's Zijin Mining Group Company Limited ready to take over Freeport Indonesia?

Reports of world class athletes' doping allegations potentially used as a political tool to destroy the reputation of competitors' athletes

ASEAN could defeat both America and Europe

Read More »
   Archive
Iran's Zarif hopes Yemen war does not lead to Iran, Saudi conflict

Indonesia - Japan agree to enhance cooperation in health sector

Govt blocks Telegram messaging service

Indonesia must persuade North Korea to be moderate and soft

Indonesia and ASEAN must play active roles to reject US diplomatic maneuvers in isolating North Korea

Govt told to reduce its dependency on debt

Police budget increased during Jokowi government

OPEC chief hopeful of oil stocks decline

US uses Afghanistan as trial-and-error arena of military equipment and war methods

Uranium, Freeport McMoran and Indonesia

Read More »
   Book Review
Author : Hendrajit, Dkk
Japanese Militarism : Japan, Between Love And Resentment

A book entitled Japanese Militarism and Its War Crimes in Asia Pacific Region (Hendrajit, ed) was recently sent to me, by the publisher, The Global Future Institute. No doubt, this book made me re-think and recollect my trip to Japan in 1996. At that time, I was warmly received by Japanese families who became my host, invited to travel to various places, and bought souvenirs. The psycological effect of my short visit is that it is hard to imagine that the Japanese people were cruel ones, perpetrators of the massacre of our ancestors, raping Indonesian girls, making them as prostitutes and enslaving our grandfathers to work on various projects.

Read More »