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.
Networks where risky banks are mostly exposed to other risky banks have higher levels of systemic risk than those with stable bank interactions.
Fire sales of common asset holdings can whip through a channel of contagion between banks, insurance companies and investments funds.
Complex networks model the links between financial institutions and how these channels can transition from diversifying to propagating risk.
Processes believed to stabilize financial markets can drive them towards instability by creating cyclical structures that amplify distress.
The optimal architecture of a financial system is only dependent on its topology when the market is illiquid, and no topology is always superior.
Network-based metrics to assess systemic risk and the importance of financial institutions can help tame the financial derivatives market.