Opinions and beliefs determine the evolution of social systems. This is of particular interest in finance, as the increasing complexity of financial systems is coupled with information overload. Opinion formation, therefore, is not always the result of optimal information processing. On the...

The idea that resilience plays a role in mitigating the effects of disaster and climate change is be- coming widespread across the development community. Consequently, the concept of resilience has been translated into actionable metrics. In this paper, we use panel micro-data from coffee...

We develop a novel stress-test framework to monitor systemic risk in financial systems. The modular structure of the framework allows to accommodate for a variety of shock scenarios, methods to estimate interbank exposures and mechanisms of distress propagation. The main features are as follows....