.png){kind=icon}
返回
Default cascades: When does risk diversification increase stability?
.png){kind=icon}
OA
AI
DOI：10.1016/j.jfs.2012.01.002.png)
.png){kind=icon}
.png){kind=icon}
分享.png){kind=icon}
收藏
摘要
En 中文
We explore the dynamics of default cascades in a network of credit interlink-ages in which each agent is at the same time a borrower and a lender. When some counterparties of an agent default, the loss she experiences amounts to her total exposure to those counterparties. A possible conjecture in this context is that individual risk diversification across more numerous counterparties should make also systemic defaults less likely. We show that this view is not always true. In particular, the diversification of credit risk across many borrowers has ambiguous effects on systemic risk in the presence of mechanisms of loss amplifications such as in the presence of potential runs among the short-term lenders of the agents in the network. (C) 2012 Elsevier B.V. All rights reserved.
Keyword:
Systemic risk
Network models
Contagion
Financial crisis
AI总结
对已上传原文的论文进行重点信息的提取，主要内容包括：简要概述、研究摘要、背景介绍、关键亮点、图文解析、展望与总结。
期刊
IF:
4.2
论文数:
1.2K
被引数:
4.5K
机构
引用论文
Validation of the generic names Meira and Acaromyces and nineteen species names of basidiomycetous yeasts.png)
MYCOBIOTA
OAAI
MYCOBIOTAIF0
OAAI分享收藏
查看更多内容