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Journal of Political Economy, 2000 Abstract There is a long tradition of regarding dislocation in the fmancial sector as a cause of economic fluctuations (Friedman and Schwartz 1963; Bernanke 1983; Bernanke and Gertler 1989). According to this view, fmancial crises are important because they raise the costs of intermediation and restrict credit, which in turn restrain ...
Franklin Allen, Douglas Gale
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CONTAGION IN HETEROGENEOUS FINANCIAL NETWORKS
Advances in Complex Systems, 2016In this paper, we use the financial network contagion model of Gai P. and Kapadia S. [Contagion in financial networks, Proc. R. Soc. A 466 (2010) 2401–2423] to investigatethe interaction of several types of heterogeneity found in real world banking systems.
Yuanying Guan, Micah Pollak
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Networks of Financial Contagion
2013Banks develop relationships in order to protect themselves against liquidity risk. Despite this benefit, fragility of financial markets stems from these interconnections. A cornerstone in the microeconomic analysis of contagion in financial systems is the contribution of Allen and Gale (2000).
CUTILLO, Luisa +2 more
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Contagion and equilibria in diversified financial networks
Journal of Economic Theory, 2021zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Victor Amelkin +2 more
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The Effect of Diversification on Financial Contagion
2016 49th Hawaii International Conference on System Sciences (HICSS), 2016The economic and financial crises of the early 21st century (e.g. 2007 -- 2009 global financial turmoil) have made financial instability, which is induced by financial contagion, as one of the major concerns in the economics or financial field worldwide. In this paper we model a network of financial cross-holdings based on the classic Leontief input --
Xian Cheng +5 more
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Informational Channels of Financial Contagion
Econometrica, 2020Two main classes of channels are studied as informational sources of financial contagion. One is a fundamental channel that is based on real and financial links between economies, and the second is a social learning channel that arises when agents base their decisions on noisy observations about the actions of others in foreign markets.
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On the measure of contagion in fuzzy financial networks
Applied Soft Computing, 2018Abstract Previous literature shows that financial networks are sometimes described by fuzzy data. This paper aims to extend classical models of financial contagion to the framework of fuzzy financial networks. The degree of default of each bank in the network is defined.
De Marco, Giuseppe +3 more
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A Spatial Contagion Test for Financial Markets
2013By using some ideas recently introduced by Durante and Jaworski, we present a test for spatial contagion among financial markets. This test is based on a comparison between threshold copulas associated with a given pair of random variables representing two financial markets.
Fabrizio Durante +2 more
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