نتایج جستجو برای: financial networks
تعداد نتایج: 568556 فیلتر نتایج به سال:
We study a dynamic model of financial intermediation in which interbank lending is subject to moral hazard, where intermediaries can divert funds towards inefficient projects. We show that despite the presence of moral hazard, secured lending contracts can discipline the investment choices of all market participants — even those with whom they are not directly contracting — thus partially overc...
We model contagions and cascades of failures among organizations linked through a network of financial interdependencies. We identify how the network propagates discontinuous changes in asset values triggered by failures (e.g., bankruptcies, defaults, and other insolvencies) and use that to study the consequences of integration (each organization becoming more dependent on its counterparties) a...
The current global financial system forms a highly interconnected network where default in one of its nodes can propagate to many other nodes, causing catastrophic avalanche effect. In this paper we consider the problem reducing contagion by introducing some targeted interventions that mitigate cascaded failure effects. We multi-step dynamic model clearing payments and introduce an external con...
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