Society for Nonlinear Dynamics and Econometrics. Bylaws approved on March 20, 2015, last revised March 24, 2021.
I. Scope and Purpose
The Society for Nonlinear Dynamics and Econometrics (denoted the ‘Society’ below) seeks to promote the use of nonlinear methods in economics and finance from both theoretical and empirical perspectives.
While much of the original interest in nonlinear phenomena arose in the Society from the study of deterministic chaos, subsequent research has branched into the analysis of nonlinearities of all kinds. In the 21St Century, and since the Great Recession, many have come to realize that nonlinearity is an inherent feature of economic and financial dynamics. The Society encourages the study of these pervasive phenomena.
The purpose of the Society is to promote research in economics and finance by holding an annual meeting at which researchers across the globe meet to present and discuss their ideas and research outcomes. The Society may also sponsor additional conferences and workshops consistent with the scholarly interests of its members.
The Officers of the Society shall consist of a President and a Treasurer.
The President is responsible for planning and supervising the Society’s annual conference. In addition, the President calls for and presides over meetings of the Executive Committee (defined further) throughout the year. The President is also able to create ad-hoc positions as needed in the service of the Society.
The President will be elected for a term of three years by a simple majority of the members of the Executive Committee in a confidential vote, typically around the time of the annual conference. The President may serve no more than one three-year term unless the term is extended by the Executive Committee due to emergency situations preventing the regular operations of the Society (for example, a pandemic). If the office of the President becomes vacant, the Executive Committee will act in its place until a new President is elected.
One member of the Executive Committee will serve as a Treasurer. The holder of this position will be chosen by the President.
The Treasurer will serve a three-year term and will be responsible for organizing the collection of membership and conference fees as well as disbursement of funds for sponsored conferences and other expenses. Every year, the Treasurer presents the annual financial statements of the Society to the Executive Committee during one of its meetings.
There are no limits on how long the Treasurer can continue in office other than term limits on members of the Executive Committee.
III. Executive Committee
There shall be an Executive Committee consisting of nine members. The members shall be the President, the immediate past President, and seven ordinary members, one of whom serves as Treasurer (all defined previously).
The Executive Committee shall decide the place for the annual meeting, advise and help the President with the organization of the annual conference. The Scientific Committee for the annual conference is formed by the local organizers in consultation with the Executive Committee. Members of the Executive Committee are automatically part of the Scientific Committee. The Executive Committee also decides on the workshops and conferences to be sponsored by the Society and on the distribution of funds for regular expenses.
The seven ordinary members of the Executive Committee will each serve a three-year term. They are elected by a simple majority votes of the Society’s membership. When an ordinary member is elected as a President or a past President (see below) by the Executive Committee, or when a seat becomes vacant by reasons of resignation, death, or a similar event, the empty seat is filled by a new vote of the Society’s membership.
No ordinary member may serve more than two consecutive three-year terms and each elected member shall leave the Executive Committee for at least one year before filling another of its seats.
The immediate past President will serve a single three-year term and shall leave the Executive Committee for at least one year before filling another of its seats. If the immediate past President seat becomes vacant by reason of resignation, death, or similar events, another person will be elected to fill the remaining term of that seat by a majority vote of the remaining ordinary members of the Executive Committee.
The mandates of the ordinary members of the Executive Committee should be staggered so no major change in the composition of the Committee takes place at a single election. A major change occurs when more than three ordinary seats are filled in a single election. To avoid this situation, the Executive Committee can exceptionally extend some ordinary mandates by up to one year. These exceptions must be voted by a supermajority of two-thirds of the members of the Executive Committee and no ordinary member can serve more than seven consecutive years.
Membership in the Society is defined as those who have paid registration fees and/or have attended an annual meeting in the last five years. Membership is extended automatically when the criteria are met. Past attendees may opt-out of membership.
All elections will be conducted by the President of the Society electronically and seconded by the immediate past President. Ballots will be emailed to all members of the Society with clear deadlines. A simple majority of submitted votes by the members will determine the winner of elections. The results of the elections will be announced electronically.
Each year, a subset, based on expiring terms, of the seven ordinary seats on the Executive Committee will be elected by the membership, while the President will be elected every third year, among and by the members of the Executive Committee as outlined earlier.
The Executive Committee as well as any member of the Society may nominate one or more individuals for each open Executive Committee seat. A candidate must receive nominations from at least five members of the Society to qualify for the ballot. Members will be notified by email before the elections informing them of vacancies and asking for nominations.
VI. Amendments to Bylaws
Amendments to these bylaws should be approved by a two-thirds majority of the votes cast by the Society’s members.
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