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.
Modelling financial systemic risk
Complex networks model the links between financial institutions and how these channels can transition from diversifying to propagating risk.
Complex networks, Financial risk
Non-linear distress propagation
Non-linear models of distress propagation in financial networks characterise key regimes where shocks are either amplified or suppressed.
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
Increasing the complexity of the network of contracts between financial institutions decreases the accuracy of estimating systemic risk.
Cascades in flow networks
Coupled distribution grids are more vulnerable to a cascading systemic failure but they have larger safe regions within their networks.
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.