resilience of financial systems based on different network models. We investigate the impact of a wide variety of model … systems. Our main finding is that merger activities can stabilize or destabilize the modelled financial network, depending on … various details such as the connectivity of the network and the assumed merger process. Merger activities can increase …

theoretical findings, we estimate an empirical network from industry cash flows and find support for these predictions. …

probable links with the largest exposures consistent with the total lending and borrowing of each bank, leading to networks …

from observing the actions of peers. When the social belief is strong and the financial network is fragmented, banks follow … endogenously formed interbank networks, however, less informative signals lead to higher network density and less synchronization …

that can best be characterized as a shrinking of the interbank network. Such a change in the network structure is … consequential: banks with higher centrality within the network have better access to liquidity and are able to charge larger …

of the world order, the city network. …