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Contagion! Systemic Risk in Financial Networks by T. R. Hurd

By T. R. Hurd

This quantity provides a unified mathematical framework for the transmission channels for destructive shocks that could result in instability in monetary platforms. because the identify indicates, monetary contagion is comparable to the unfold of disorder, and harmful monetary crises should be greater understood through bringing to undergo principles from learning different complicated structures in our international. After contemplating how humans have seen monetary crises and systemic danger long ago, it delves into the mechanics of the interactions among banking counterparties. It reveals a standard mathematical constitution for sorts of crises that continue via cascade mappings that process a cascade equilibrium. Later chapters stick with this topic, ranging from the underlying random skeleton graph, constructing into the idea of bootstrap percolation, eventually resulting in innovations which can be sure the big scale nature of contagious monetary cascades.

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