The Paul Woolley Centre for the Study of Capital Market Dysfunctionality has been established at the Financial Markets Group of the London School of Economics, with the generous support of Dr Paul Woolley and under the directorship of Prof Dimitri Vayanos.
The main objective of The Paul Woolley Centre is to produce and disseminate high-quality research relating to understanding the workings of capital markets and the social efficiency of allocations achieved in these markets.
The Centre's research agenda addresses four areas in financial markets:
contracts and organisational structure
market frictions and asset prices
allocative efficiency and the macro-economy
The Paul Woolley Centre's work programme involves a wide variety of activities, including the publication of the Paul Woolley Working Paper Series, the organisation of dedicated conferences and seminars, a visitors' programme, the Paul Woolley scholarships programme and the support of research projects.
The Paul Woolley Centre has been particularly involved in supporting and contributing to The Future of Finance: The LSE Report. The authors of the report, including Dr Paul Woolley, are major international players in academia and policymaking. Dr Paul Woolley authored chapter 3 of the publication and the Centre provided financial and organisational support to publish the book, for the working groups and for the conference held on 14 July 2010.
Paul Woolley Centre researchers also collaborate with those at the two other Paul Woolley Centres at the University of Technology Sydney and the Toulouse School of Economics.