financial network where good firms enjoy direct and indirect benefits from linking with one another. Bad risks benefit from … efficient ones. We also study extensions with heterogenous “bad risks,” with diversity in the costs to good risk firms of …

that the completely connected network is stable, although, its exact structure, and thus contagion implications, is …

In our network analysis of 40 developed, emerging and frontier stock markets during 2006-2014, we describe and model … interconnectedness. Our results also link spillovers of escalating magnitude with increasing market size, market liquidity and economic …

We develop a dynamic computational network model of the banking system where fire sales provide the amplification …. Banks with excess liquidity also offer loans to other banks with insufficient liquidity. Thus, each period an interbank loan … uncertainty is endogenous and related to the structure of the interbank network. …

We investigate the trade-off between the risk-sharing gains enjoyed by more interconnected firms and the costs … resulting from an increased risk exposure. We find that when the shock distribution displays "fat" tails, extreme segmentation …

characterized by higher uncertainty and geopolitical risk, tighter credit and liquidity conditions, and sluggish economic and real …

We examine to what extent banks' stock market values during the 2007-2012 financial crisis were driven by increases in … the default risk of banks designated as globally systemically important by the Financial Stability Board. We find that … bank market values hardly respond to changes in the default risk of individual systemic banks. Together, however, changes …