Pathways towards instability in financial networks
M. Bardoscia, S. Battiston, F. Caccioli, G. Caldarelli
Nature Communications (02/17)
#finance#systemicrisk#randomgraphs
Market integration can lead the financial system towards instability.
Following the financial crisis of 2007–2008, a deep analogy between the origins of instability in financial systems and complex ecosystems has been pointed out: in both cases, topological features of network structures influence how easily distress can spread within the system. However, in financial network models, the details of how financial institutions interact typically play a decisive role, and a general understanding of precisely how network topology creates instability remains lacking. Here we show how processes that are widely believed to stabilize the financial system, that is, market integration and diversification, can actually drive it towards instability, as they contribute to create cyclical structures which tend to amplify financial distress, thereby undermining systemic stability and making large crises more likely. This result holds irrespective of the details of how institutions interact, showing that policy- relevant analysis of the factors affecting financial stability can be carried out while abstracting away from such details.
Stabilitätspolitik macht Banken instabil
Pathways towards instability in financial networks
Spektrum.de, 2017-04-06
Economics: Complexity may undermine the stability of the financial system
Pathways towards instability in financial networks
Nature Asia, 2017-02-22
Fik faktorerne, som skulle stabilisere finansmarkedet, det i stedet til at bryde sammen?
Pathways towards instability in financial networks
Ingenioren, 2017-02-23
Policies believed to stabilize the financial system may actually do the opposite, study finds
Pathways towards instability in financial networks
Phys.org, 2017-05-05
Pathways towards instability in financial networks
Pathways towards instability in financial networks
Money Science, 2017-02-26
Memristive networks: from graph theory to statistical physics
A. Zegarac, F. Caravelli
Europhysics Letters
The statistical physics of real-world networks
G. Cimini, T. Squartini, F. Saracco, D. Garlaschelli, A. Gabrielli, G.
Nature Reviews Physics
Maximum one-shot dissipated work from Rényi divergences
N. Halpern, A. Garner, O. Dahlsten, V. Vedral
Physical Review E
Tackling information asymmetry in networks: a new entropy-based ranking index
P. Barucca, G. Caldarelli, T. Squartini
Journal of Statistical Physics
On defining the Hamiltonian beyond quantum theory
D. Branford, O. Dahlsten, A. Garner
Foundations of Physics
A complex network approach for the estimation of the energy demand of electric mobility
M. Mureddu, A. Facchini, A. Scala, G. Caldarelli, A. Damiano
Scientific Reports
Reconstructing grain-shape statistics from electron back-scatter diffraction microscopy
R. Farr, Z. Vukmanovic, M. Holness, E. Griffiths
Physical Review Materials
Network models of financial systemic risk: a review
F. Caccioli, P. Barucca, T. Kobayashi
Journal of Computational Social Science
A holistic approach for collaborative workload execution in volunteer clouds
S. Sebastio, M. Amoretti, A. Lafuente, A. Scala
ACM Transactions on Modeling and Computer Simulation
From ecology to finance (and back?): a review on entropy-based null models for the analysis of bipartite networks
M. Straka, G. Caldarelli, T. Squartini, F. Saracco
Journal of Statistical Physics
Eigenvalues of subgraphs of the cube
B. Bollobás, J. Lee, S. Letzter
European Journal of Combinatorics
Web search queries can predict stock market volumes
I. Bordino, S. Battiston, G. Caldarelli, M. Cristelli, A. Ukkonen, I. Weber
PLoS ONE
Using networks to understand medical data: the case of class III malocclusions
A. Scala, P. Auconi, M. Scazzocchio, G. Caldarelli, J. McNamara, L. Franchi
PLoS ONE
Networks with arbitrary edge multiplicities
V. Zlatić, D. Garlaschelli, G. Caldarelli
EPL (Europhysics Letters)
Robustness and assortativity for diffusion-like processes in scale-free networks
G. D'Agostino, A. Scala, V. Zlatić, G. Caldarelli
EPL (Europhysics Letters)
Optimal scales in weighted networks
D. Garlaschelli, S. Ahnert, T. Fink, G. Caldarelli
Social Informatics. Lecture Notes in Computer Science
Reconstructing a credit network
G. Caldarelli, A. Chessa, F. Pammolli, A. Gabrielli, M. Puliga
Nature Physics
Default cascades in complex networks: topology and systemic risk
T. Roukny, H. Bersini, H. Pirotte, G. Caldarelli, S. Battiston
Scientific Reports
The rise of China in the international trade network: a community core detection approach
Z. Zhu, F. Cerina, A. Chessa, G. Caldarelli, M. Riccaboni
PLoS ONE
A multi-Level geographical study of Italian political elections from Twitter data
G. Caldarelli, A. Chessa, F. Pammolli, G. Pompa, M. , M. Riccaboni, G. Riotta
PLOS ONE
The effects of Twitter sentiment on stock price returns
G. Ranco, D. Aleksovski, G. Caldarelli, M. Grčar, I. Mozetič
PLoS ONE
Twitter-based analysis of the dynamics of collective attention to political parties
Y. Eom, M. Puliga, J. Smailović, I. Mozetič, G. Caldarelli
PLoS ONE
Green power grids: how energy from renewable sources affects networks and markets
M. Mureddu, G. Caldarelli, A. Chessa, A. Scala, A. Damiano
PLoS ONE
Credit default swaps networks and systemic risk
M. Puliga, G. Caldarelli, S. Battiston
Scientific Reports
Hyperbolicity measures democracy in real-world networks
M. Borassi, A. Chessa, G. Caldarelli
Physical Review E
Hierarchical mutual information for the comparison of hierarchical community structures in complex networks.
J. Perotti, C. Tessone, G. Caldarelli
Physical Review E
Coupling news sentiment with web browsing data improves prediction of intra-day price dynamics
G. Ranco, I. Bordino, G. Bormetti, G. Caldarelli, F. Lillo, M. Treccani
PLoS ONE
Distress propagation in complex networks: the case of non-linear DebtRank
M. Bardoscia, F. Caccioli, J. Perotti, G. Vivaldo, G. Caldarelli
PLoS ONE
Cascades in interdependent flow networks
A. Scala, P. Lucentini, G. Caldarelli, G. D’Agostino
Physica D Nonlinear Phenomena
Networks of plants: how to measure similarity in vegetable species
G. Vivaldo, E. Masi, C. Pandolfi, S. Mancuso, G. Caldarelli
Scientific Reports
Concurrent enhancement of percolation and synchronization in adaptive networks
Y. Eom, S. Boccaletti, G. Caldarelli
Scientific Reports
Mitigating cascades in sandpile models: an immunization strategy for systemic risk?
A. Scala, V. Zlatić, G. Caldarelli, G. D’Agostino
Journal de Physique IV
Islanding the power grid on the transmission level: less connections for more security
M. Mureddu, G. Caldarelli, A. Damiano, A. Scala, H. Meyer-Ortmanns
Scientific Reports
Grand canonical validation of the bipartite international trade network
M. Straka, G. Caldarelli, F. Saracco
Physical Review E
Bayesian networks analysis of malocclusion data
M. Scutari, P. Auconi, G. Caldarelli, L. Franchi
Scientific Reports
Hierarchical space frames for high mechanical efficiency: Fabrication and mechanical testing
D. Rayneau-Kirkhope, Y. Mao, R. Farr, J. Segal
Mechanics Research Communications
Scale-free networks as an epiphenomenon of memory
F. Caravelli, A. Hamma, M. Ventra
EPL (Europhysics Letters)
Emergence of strongly connected components in continuum disk-spin percolation
F. Caravelli, M. Bardoscia, F. Caccioli
Journal of Statistical Mechanics: Theory and Experiment
Predicting interface structures: from SrTiO 3 to graphene
G. Schusteritsch, C. Pickard
Physical Review B
How well do experience curves predict technological progress? A method for making distributional forecasts
F. Lafond, A. Bailey, J. Bakker, D. Rebois, R. Zadourian, P. McSharry, D. Farmer
Technological Forecasting and Social Change
Dirac cones in two-dimensional borane
M. Martinez-Canales, T. Galeev, A. Boldyrev, C. Pickard
Physical Review B
The organization of the interbank network and how ECB unconventional measures affected the e-MID overnight market
F. Lillo, P. Barucca
Computational Management Science
Harnessing the secret structure of innovation
M. Reeves, T. Fink, R. Palma, J. Harnoss
MIT Sloan Management Review
On the predictability of growth
M. Cristelli, A. Cader, A. Tacchella, K. Roster, L. Pietronero
World Bank Working Paper
Geometric phases and cyclic isotropic cosmologies
L. Banchi, F. Caravelli
Classical and Quantum Gravity
Quantum generalisation of feedforward neural networks
K. Wan, O. Dahlsten, H. Kristjansson, R. Gardner, M. Kim
Nature Quantum Information
Diffusional Monte Carlo model of liquid-phase sintering
A. R.S.Farr
Mathematics and Computers in Simulation
Exactly solvable random graph ensemble with extensively many short cycles
F. Lopez, P. Barucca, M. Fekom, A. Coolen
Journal of Physics A: Mathematical and Theoretical
Exactly solvable model of memristive circuits: Lyapunov functional and mean field theory
F. Caravelli, P. Barucca
European Physical Journal B
Debunking in a world of tribes
F. Zollo, A. Bessi, M. Vicario, G. Caldarelli, L. Shekhtman, S. Havlin, W. Quattrociocchi
PLOS ONE
Economic complexity: conceptual grounding of a new metrics for global competitiveness
A. Tacchella, M. Cristelli, G. Caldarelli, A. Gabrielli, L. Pietronero
Journal of Economic Dynamics and Control
Measuring the intangibles: a metric for the economic complexity of countries and products
M. Cristelli, A. Gabrielli, A. Tacchella, G. Caldarelli, L. Pietronero
PLOS ONE
How the taxonomy of products drives the economic development of countries
A. Zaccaria, M. Cristelli, A. Tacchella, L. Pietronero
PLOS ONE
Tailored graph ensembles as proxies or null models for real networks II: results on directed graphs
E. Roberts, T. Schlitt, A. Coolen
Journal of Physics A
Entropies of tailored random graph ensembles: bipartite graphs, generalized degrees, and node neighbourhoods
E. Roberts, A. Coolen
Journal of Physics A
Unbiased degree-preserving randomization of directed binary networks
E. Roberts, A. Coolen
Physical Review E
Spin systems on hypercubic Bethe lattices: a Bethe–Peierls approach
A. Mozeika, A. Coolen
Journal of Physics A
Transfer operator analysis of the parallel dynamics of disordered Ising chains
A. Coolen, K. Takeda
Philosophical Magazine
Quantifying noise in mass spectrometry and yeast two-hybrid protein interaction detection experiments
A. Annibale, A. Coolen, N. Planell-Morell
Journal of the Royal Society Interface
Immune networks: multitasking capabilities near saturation
E. Agliari, A. Annibale, A. Barra, A. Coolen, D. Tantari
Journal of Physics A
Subcritical U-Bootstrap percolation models have non-trivial phase transitions
P. Balister, B. Bollobas, M. Przykucki, P. Smith
Transactions of the American Mathematical Society
Maximum percolation time in two-dimensional bootstrap percolation
F. Benevides, M. Przykucki
SIAM Journal on Discrete Mathematics
Bootstrap percolation on Galton–Watson trees
B. Bollobas, K. Gunderson, C. Janson, M. Przykucki
Electronic Journal of Probability
Self-assembly, modularity, and physical complexity
S. Ahnert, I. Johnston, T. Fink, J. Doye, A. Louis
Physical Review E
What you see is not what you get: how sampling affects macroscopic features of biological networks
A. Annibale, A. Coolen
Interface Focus
Evolution of controllability in interbank networks
D. Delpini, S. Battiston, M. Riccaboni, G. Gabbi, F. Pammolli, G. Caldarelli
Scientific Reports
Immune networks: multi-tasking capabilities at medium load
E. Agliari, A. Annibale, A. Barra, A. Coolen, D. Tantari
Journal of Physics A
Optimal growth trajectories with finite carrying capacity
F. Caravelli, L. Sindoni, F. Caccioli, C. Ududec
Physical Review E
The mise en scene of memristive networks: effective memory, dynamics and learning
F. Caravelli
International Journal of Parallel, Emergent and Distributed Systems
The complex dynamics of memristive circuits: analytical results and universal slow relaxation
F. Caravelli, F. Traversa, M. Ventra
Physical Review E
Structures and stability of calcium and magnesium carbonates at mantle pressures
C. Pickard, R. Needs
Physical Review B
Low-temperature behaviour of social and economic networks
D. Garlaschelli, S. Ahnert, T. Fink, G. Caldarelli
Entropy
Shear elastic deformation and particle packing in plant cell dispersions
P. Lopez-Sanchez, V. Chapara, S. Schumm, R. Farr
Food Biophysics
Imperfections in a two-dimensional hierarchical structure
D. Rayneau-Kirkhope, Y. Mao, R. Farr
Physical Review E
Estimate for the fractal dimension of the Apollonian gasket in d dimensions
R. Farr, E. Griffiths
Physical Review E
Optimization of fractal space frames under gentle compressive load
D. Rayneau-Kirkhope, Y. Mao, R. Farr
Physical Review E
Power laws in the elasticity and yielding of plant particle suspensions
P. Lopez-Sanchez, R. Farr
Food Biophysics
Ultralight fractal structures from hollow tubes
D. Rayneau-Kirkhope, Y. Mao, R. Farr
Physical Review Letters
Easily repairable networks: reconnecting nodes after damage
R. Farr, J. Harer, T. Fink
Physical Review Letters
Mean grain diameters from thin sections: matching the average to the problem
R. Farr, V. Honour, M. Holness
Mineralogical Magazine
How the interbank market becomes systemically dangerous: an agent-based network model of financial distress propagation
M. Serri, G. Caldarelli, G. Cimini
Network Theory of Finance
Disentangling group and link persistence in Dynamic Stochastic Block models
P. Barucca, F. Lillo, P. Mazzarisi, D. Tantari
Journal of Statistical Physics
Organic molecule fluorescence as an experimental test-bed for quantum jumps in thermodynamics
C. Browne, T. Farrow, O. Dahlsten, V. Vedral
Proceedings of the Royal Society A
Enhanced capital-asset pricing model for bipartite financial networks reconstruction
T. Squartini, G. Caldarelli, G. Cimini
Physical Review E
Network valuation in financial systems
P. Barucca, M. Bardoscia, F. Caccioli, M. D’Errico, G. Visentin, S. Battiston, G. Caldarelli
Mathematical Finance
The price of complexity in financial networks
S. Battiston, G. Caldarelli, R. May, T. Roukny, J. Stiglitz
Proceedings of the National Academy of Sciences
Pathways towards instability in financial networks
M. Bardoscia, S. Battiston, F. Caccioli, G. Caldarelli
Nature Communications
DebtRank: a microscopic foundation for shock propagation
M. Bardoscia, S. Battiston, F. Caccioli, G. Caldarelli
PLOS ONE
Photonic Maxwell’s demon
M. Vidrighin, O. Dahlsten, M. Barbieri, M. Kim, V. Vedral, I. Walmsley
Physical Review Letters
Entropic equality for worst-case work at any protocol speed
O. Dahlsten, M. Choi, D. Braun, A. Garner, N. Halpern, V. Vedral
New Journal of Physics
A network analysis of countries’ export flows: firm grounds for the building blocks of the economy
G. Caldarelli, M. Cristelli, A. Gabrielli, L. Pietronero, A. Scala, A. Tacchella
PLOS ONE
A new metric for countries’ fitness and products’ complexity
A. Tacchella, M. Cristelli, G. Caldarelli, A. Gabrielli, L. Pietronero
Scientific Reports
Weighted networks as randomly reinforced urn processes
G. Caldarelli, A. Chessa, I. Crimaldi, F. Pammolli
Physical Review E
Eigenvalues of neutral networks: Interpolating between hypercubes
T. Reeves, R. Farr, J. Blundell, A. Gallagher, T. Fink
Discrete Mathematics
Serendipity and strategy in rapid innovation
T. Fink, M. Reeves, R. Palma, R. Farr
Nature Communications
Bootstrapping topology and systemic risk of complex network using the fitness model
N. Musmeci, S. Battiston, G. Caldarelli, M. Puliga, A. Gabrielli
Journal of Statistical Physics
A measure of majorization emerging from single-shot statistical mechanics
D. Egloff, O. Dahlsten, R. Renner, V. Vedral
New Journal of Physics
Electron-phonon coupling and the metalization of solid helium at terapascal pressures
B. Monserrat, N. Drummond, C. Pickard, R. Needs
Physical Review Letters
Memory effects in stock price dynamics: evidences of technical trading
F. Garzarelli, M. Cristelli, G. Pompa, A. Zaccaria, L. Pietronero
Scientific Reports
120 / 120 papers