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 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.

  • Pathways towards instability in financial networks

    MBM. BardosciaSBFCGCG. Caldarelli Nature Communications

    Pathways towards instability

    Processes believed to stabilize financial markets can drive them towards instability by creating cyclical structures that amplify distress.

  • 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.

  • Nature Physics

    Complex derivatives

    Network-based metrics to assess systemic risk and the importance of financial institutions can help tame the financial derivatives market.