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Dr Corina Constantinescu is one of less than 150 research specialists working in the area of extreme and rare events
The University of Liverpool’s Institute for Financial and Actuarial Mathematics (IFAM) has been awarded over £600k to support an international exchange programme for researchers working on extreme and rare events.
`Risk analysis, Ruin and Extremes’ (RARE) aims to develop mathematical models to assess the likelihood and associated risk of rare and extreme events happening in the financial and insurance industries.
Dr Corina Constantinescu, from IFAM and coordinator of the project, said: “There are less than 150 research specialists working in the area of extremes and rare events and RARE, which is funded by the EU’s Framework 7 programme, will support experienced and early stage researchers through regular exchange programmes.
“The project will create a global network to facilitate knowledge, ideas and experience exchange in this field. There are 12 world-leading research institutions involved in the project from all over the world including IIM in Bangalore, India, Monash University in Australia, Ritsumeikan University in Japan and Moscow State University in Russia.”
The Institute is based in the Department of Mathematics carries out multi-disciplinary research into financial and actuarial mathematics alongside professionals in the financial services industry. Actuarial science and mathematical finance applies mathematical and statistical methods to assess risk in the insurance and finance industries.
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