Systemic Risk and Stability in Financial Networks
We provide a framework for studying the relationship between the financial network architecture and the likelihood of systemic failures due to contagion of counterparty risk. We show that financial contagion exhibits a form of phase transition as interbank connections increase: as long as the magnit...
Päätekijät: | , , |
---|---|
Aineistotyyppi: | Working Paper |
Julkaistu: |
Cambridge, MA: Department of Economics, massachusetts Institute of Technology
2013
|
Aiheet: | |
Linkit: | http://hdl.handle.net/1721.1/77606 |