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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  • Controlling systemic risk: Network structures that minimize it and node properties to calculate it

    SMGCG. CaldarelliVZ Physical Review E

    Risky bank interactions

    Networks where risky banks are mostly exposed to other risky banks have higher levels of systemic risk than those with stable bank interactions.

  • Common asset holdings and systemic vulnerability across multiple types of financial institution

    PBP. BaruccaTMLS Journal of Financial Stability

    Channels of contagion

    Fire sales of common asset holdings can whip through a channel of contagion between banks, insurance companies and investments funds.

  • Network valuation in financial systems

    PBP. BaruccaMBM. BardosciaFCMDGV... Mathematical Finance

    Network valuation in financial systems

    Consistent valuation of interbank claims within an interconnected financial system can be found with a recursive update of banks' equities.

  • Degree-correlations in a bursting dynamic network model

    FVPBP. Barucca Journal of Economic Interaction and Coordination

    Bursting dynamic networks

    A mathematical model captures the temporal and steady state behaviour of networks whose two sets of nodes either generate or destroy links.

  • Computational Management Science

    The interbank network

    The large-scale structure of the interbank network changes drastically in times of crisis due to the effect of measures from central banks.

  • 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.

  • Physical Review E

    Financial network reconstruction

    Statistical mechanics concepts reconstruct connections between financial institutions and the stock market, despite limited data disclosure.

  • 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.

  • 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.

  • Network Theory of Finance

    Fragility of the interbank network

    The speed of a financial crisis outbreak sets the maximum delay before intervention by central authorities is no longer effective.

  • Nature Physics

    Reconstructing credit

    New mathematical tools can help infer financial networks from partial data to understand the propagation of distress through the network.