This paper proposes a stochastic model of a bipartite credit network between banks and the non-bank corporate sector … number of loans seems fuzzy. Distinguishing between contagion due to interbank credit and due to joint exposures to …

Bank credit, as a means of payment, circulates in a circuit: It is first originated from the banking system, then used … for trading, and eventually deposited back to the banking system. This circulation creates an interbank network that has … been little studied. I characterize how this interbank network is structured by the fabric of the real economy. Moreover …