As the total value of the global financial market outgrew the value of the real economy,
financial institutions created a global web of interactions that embodies systemic risks …

We provide an overview of the relationship between financial networks and systemic risk.
We present a taxonomy of different types of systemic risk, differentiating between direct …

This chapter develops a unified framework for the study of how network interactions can
function as a mechanism for propagation and amplification of microeconomic shocks. The …

I study a model of the financial sector in which intermediation among debt-financed banks
gives rise to an endogenous core-periphery network. Endogenous intermediation generates …

The banking system is highly interconnected and these connections can be conveniently
represented as an interbank network. This survey presents a systematic overview of the …

In this paper, I examine asset pricing in a multisector model with sectors connected through
an input‐output network. Changes in the network are sources of systematic risk reflected in …

This paper endogenizes intervention in financial crises as the strategic negotiation between
a regulator and creditors of distressed banks. Incentives for banks to contribute to a …

The potential impact of interconnected financial institutions on interbank financial systems is
a financial stability concern for central banks and regulators. In examining how financial …

This paper introduces a model of endogenous network formation and systemic risk. In it,
firms form joint ventures called 'links' which are subsequently subjected to either good or …

Building on the line of work (Ann. Appl. Probab. 25 (2015) 2096–2133; Stochastic Process.
Appl. 125 (2015) 2451–2492; Ann. Appl. Probab. 29 (2019) 89–129; Arch. Ration. Mech …