Gallegati, Mauro; Greenwald, Bruce; Richiardi, Matteo; … - Collegio Carlo Alberto, Università degli Studi di Torino - 2007
We provide a general characterization of diffusion processes, allowing to analyze both risk-sharing and contagion at the same time. We show that interdependencies are beneficial when the economic environment is favorable, and detrimental when the economic environment deteriorates. The risk of...