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dc.contributor.author
Roukny, Tarik
dc.contributor.author
Bersini, Hugues
dc.contributor.author
Pirotte, Hugues
dc.contributor.author
Caldarelli, Guido
dc.contributor.author
Battiston, Stefano
dc.date.accessioned
2018-09-05T14:40:33Z
dc.date.available
2017-06-10T22:30:11Z
dc.date.available
2018-09-05T14:40:33Z
dc.date.issued
2013-09-26
dc.identifier.other
10.1038/srep02759
en_US
dc.identifier.uri
http://hdl.handle.net/20.500.11850/72966
dc.identifier.doi
10.3929/ethz-b-000072966
dc.description.abstract
The recent crisis has brought to the fore a crucial question that remains still open: what would be the optimal architecture of financial systems? We investigate the stability of several benchmark topologies in a simple default cascading dynamics in bank networks. We analyze the interplay of several crucial drivers, i.e., network topology, banks' capital ratios, market illiquidity, and random vs targeted shocks. We find that, in general, topology matters only – but substantially – when the market is illiquid. No single topology is always superior to others. In particular, scale-free networks can be both more robust and more fragile than homogeneous architectures. This finding has important policy implications. We also apply our methodology to a comprehensive dataset of an interbank market from 1999 to 2011.
en_US
dc.format
application/pdf
en_US
dc.language.iso
en
en_US
dc.publisher
Nature Publishing Group
en_US
dc.rights.uri
http://creativecommons.org/licenses/by-nc-nd/3.0/
dc.subject
Phase transitions and critical phenomena
en_US
dc.subject
Computational science
en_US
dc.subject
Complex networks
en_US
dc.subject
Applied physics
en_US
dc.title
Default Cascades in Complex Networks
en_US
dc.type
Journal Article
dc.rights.license
Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported
ethz.title.subtitle
Topology and Systemic Risk
en_US
ethz.journal.title
Scientific Reports
ethz.journal.volume
3
en_US
ethz.pages.start
2759
en_US
ethz.size
8 p.
en_US
ethz.version.deposit
publishedVersion
en_US
ethz.identifier.wos
ethz.identifier.scopus
ethz.identifier.nebis
006751867
ethz.publication.place
London
en_US
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03682 - Schweitzer, Frank / Schweitzer, Frank
en_US
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03682 - Schweitzer, Frank / Schweitzer, Frank
ethz.date.deposited
2017-06-10T22:31:00Z
ethz.source
ECIT
ethz.identifier.importid
imp593651128a40419821
ethz.ecitpid
pub:115582
ethz.eth
yes
en_US
ethz.availability
Open access
en_US
ethz.rosetta.installDate
2017-07-12T23:35:57Z
ethz.rosetta.lastUpdated
2018-09-05T14:40:38Z
ethz.rosetta.exportRequired
true
ethz.rosetta.versionExported
true
ethz.COinS
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