NDLI: Financial Bridges and Network Communities

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Financial Bridges and Network Communities

Content Provider	Scilit
Author	Casarin, Roberto Costola, Michele
Copyright Year	2017
Description	Journal: SSRN Electronic Journal The paper analyses the contagion channels of the European financial system through the stochastic block models (SBMs) which groups homogeneous connectivity patterns among the financial institutions allowing to describe in a compact way the shock transmission mechanisms of the network. With the presence of a community structure, policy interventions focused on institutions with inter-community linkages (community bridges) are more effective than the ones based on the classical connectedness measures. Accordingly, we show that the total connectedness measures can be decomposed in inter-and intra-community connectedness providing a more efficient tool for gauge the topology of the financial network. Findings show that the number of financial communities increases during period of instability and financial bridges become responsible of spreading contagion between communities representing consequently a better early warning indicator in predicting future financial losses. Moreover, during the two last financial crises, the European financial network exhibits a core-periphery structure with the presence of a main block acting as shock spreader to the rest of the network.
Related Links	http://publikationen.ub.uni-frankfurt.de/files/46674/SSRN-id3178053.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=2951716
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.2951716
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2017-06-20
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Operations Research and Management Science Financial Bridges European Financial
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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