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The financial system as a nexus of interconnected networks


Battiston, Stefano; Caldarelli, Guido; D'Errico, Marco (2016). The financial system as a nexus of interconnected networks. In: Garas, Antonios. Interconnected Networks. Switzerland: Springer International Publishing, 195-229.

Abstract

In this Chapter, we describe the phenomenology of multilevel financial networks. Network analysis represents a useful tool for the analysis of financial systems, allowing, in particular, for a better understanding of the mechanics of systemic distress. However, the level of complexity reached by the financial system, coupled with the linkages arising to and from other economic sectors, calls for a more integrated approach that takes into account a whole series of networks. In this Chapter, we therefore describe the financial systems as a nexus of interconnected networks. By reviewing selected theoretical and empirical works and describing two methodological extensions for DebtRank, we show different arguments in favor of the adoption of a broader view of the network approach to finance.

Abstract

In this Chapter, we describe the phenomenology of multilevel financial networks. Network analysis represents a useful tool for the analysis of financial systems, allowing, in particular, for a better understanding of the mechanics of systemic distress. However, the level of complexity reached by the financial system, coupled with the linkages arising to and from other economic sectors, calls for a more integrated approach that takes into account a whole series of networks. In this Chapter, we therefore describe the financial systems as a nexus of interconnected networks. By reviewing selected theoretical and empirical works and describing two methodological extensions for DebtRank, we show different arguments in favor of the adoption of a broader view of the network approach to finance.

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Additional indexing

Item Type:Book Section, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Banking and Finance
Dewey Decimal Classification:330 Economics
Language:English
Date:2016
Deposited On:15 Apr 2016 16:12
Last Modified:08 Dec 2017 19:21
Publisher:Springer International Publishing
ISBN:978-3-319-23947-7
Publisher DOI:https://doi.org/10.1007/978-3-319-23947-7_12
Related URLs:http://www.springer.com/de/book/9783319239453 (Publisher)
http://www.recherche-portal.ch/ZAD:default_scope:ebi01_prod010604150 (Library Catalogue)
Other Identification Number:merlin-id:13173

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