Gallegati, Mauro; Greenwald, Bruce; Richiardi, Matteo; … - In: Global Economy Journal 8 (2008) 3, pp. 2-2
In this paper we provide a general characterization of diffusion processes, allowing us to analyze both risk-sharing and contagion effects at the same time. We illustrate the relevance of our theory with reference to the subprime mortgage crisis and more in general to the processes of...