Complex Financial Networks and Systemic Risk: A Review

23 Pages Posted: 15 May 2014

See all articles by Spiros Bougheas

Spiros Bougheas

University of Nottingham - School of Economics

Alan P. Kirman

Aix Marseile University and Ecole des Hautes Etudes en Sciences Sociales; CAMS EHESS

Date Written: April 14, 2014

Abstract

In this paper we review recent advances in financial economics in relation to the measurement of systemic risk. We start by reviewing studies that apply traditional measures of risk to financial institutions. However, the main focus of the review is on studies that use network analysis paying special attention to those that apply complex analysis techniques. Applications of these techniques for the analysis and pricing of systemic risk has already provided significant benefits at least at the conceptual level but it also looks very promising from a practical point of view.

Keywords: complex financial systems, networks, systemic risk

JEL Classification: D850, G200

Suggested Citation

Bougheas, Spiros and Kirman, Alan P., Complex Financial Networks and Systemic Risk: A Review (April 14, 2014). CESifo Working Paper Series No. 4756. Available at SSRN: https://ssrn.com/abstract=2436826

Spiros Bougheas (Contact Author)

University of Nottingham - School of Economics ( email )

University Park
Nottingham, NG7 2RD
United Kingdom

Alan P. Kirman

Aix Marseile University and Ecole des Hautes Etudes en Sciences Sociales ( email )

3 Avenue Robert Schuman,
France

CAMS EHESS ( email )

190-198, avenue de France,
Paris, 75244
France
+33612241766 (Phone)

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