possible channel of contagion from the infected region to the rest of the world. Focusing on, say, the incidence of close human … can become big and global. Much of the empirical finance literature has focused only on "direct" contagion arising from … firms' contractual obligations. Direct contagion occurs if one firm's default on its contractual obligations triggers …

simulation. This makes it possible to include more actors and more realistic institutional constraints, and to explain phenomena … systemic risk, including models for the three main channels of contagion: counterparty loss, overlapping portfolios and funding … channels of contagion, models with learning and limited deductive reasoning that can survive the Lucas critique, and practical …

The analysis of interconnectedness and contagion is an important part of the financial stability and risk assessment of … analysis of interconnectedness and contagion for a country's financial system under various circumstances. We survey current …