Complexity, concentration and contagion: A comment
نویسندگان
چکیده
منابع مشابه
Complexity, concentration and contagion
This paper develops a network model of interbank lending in which unsecured claims, repo activity and shocks to the haircuts applied to collateral assume centre stage. We show how systemic liquidity crises of the kind associated with the interbank market collapse of 2007–2008 can arise within such a framework, with funding contagion spreading widely through the web of interlinkages. Our model i...
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A number of contradictory metaphors are interwoven with network culture. Perhaps the most striking is the computer scientist Tim Berners-Lee’s image of a spider’s web, which is used to represent the open interstices of communication, but also raises questions about network vulnerability. For example, is being on the web tantamount to the experience of a spider or a fly? Indeed, the World Wide W...
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The instrumental use of social networks has become a central tenet of international health policy and advocacy since the Millennium project. In asking, 'How to facilitate social contagion?', Karl Blanchet of the London School of Hygiene and Tropical Medicine therefore reflects not only on the recent success, but also hints to growing challenges; the tactics of partnerships, alliances and platfo...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 2011
ISSN: 0304-3932
DOI: 10.1016/j.jmoneco.2011.06.001