Our papers are the official record of our discoveries. They allow others to build on and apply our work. Each paper is the result of many months of research, so we make a special effort to make them clear, beautiful and inspirational, and publish them in leading journals.

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  • Network models of financial systemic risk: a review

    FCPBP. BaruccaTK Journal of Computational Social Science

    Modelling financial systemic risk

    Complex networks model the links between financial institutions and how these channels can transition from diversifying to propagating risk.

  • Distress propagation in complex networks: the case of non-linear DebtRank

    MBM. BardosciaFCJPGVGCG. Caldarelli PLoS ONE

    Non-linear distress propagation

    Non-linear models of distress propagation in financial networks characterise key regimes where shocks are either amplified or suppressed.

  • Mitigating cascades in sandpile models: an immunization strategy for systemic risk?

    ASA. ScalaVZGCG. CaldarelliGD Journal de Physique IV

    Immunisation of systemic risk

    Targeted immunisation policies limit distress propagation and prevent system-wide crises in financial networks according to sandpile models.

  • The price of complexity in financial networks

    SBGCG. CaldarelliRMTRJS Proceedings of the National Academy of Sciences of the USA

    The price of complexity

    Increasing the complexity of the network of contracts between financial institutions decreases the accuracy of estimating systemic risk.

  • Physica D Nonlinear Phenomena

    Cascades in flow networks

    Coupled distribution grids are more vulnerable to a cascading systemic failure but they have larger safe regions within their networks.

  • Scientific Reports

    Default cascades in networks

    The optimal architecture of a financial system is only dependent on its topology when the market is illiquid, and no topology is always superior.