Networks and systemic risk in the financial system

Autor:	Sujit Kapadia, Prasanna Gai
Rok vydání:	2019
Předmět:	Economics and Econometrics 050208 finance 05 social sciences Financial intermediary Financial system Management Monitoring Policy and Law Financial regulation 0502 economics and business Financial crisis Systemic risk Economics Relevance (information retrieval) 050207 economics Risk assessment
Zdroj:	Oxford Review of Economic Policy. 35:586-613
ISSN:	1460-2121 0266-903X
DOI:	10.1093/oxrep/grz023
Popis:	The complex web of exposures and interlinkages across the financial system highlights the relevance of network analysis in understanding systemic risk and guiding the design of financial regulation. This paper discusses how network models—and those based on epidemiological approaches in particular—offer a compelling description of the structure of real-world financial systems and shed light on different contagion mechanisms seen during the global financial crisis. We also review how these insights may inform macroprudential risk assessment and policy in the areas of stress-testing the financial system and the regulation of systemically important institutions. The role of non-bank financial intermediation and social networks in shaping financial system risk is also briefly considered.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::74aad0cdc2a2955bf2d038185b903d63 https://doi.org/10.1093/oxrep/grz023 Zobrazit plný text záznamu