Related papers: Spreadsheets and the Financial Collapse
Spreadsheet engineering adapts the lessons of software engineering to spreadsheets, providing eight principles as a framework for organizing spreadsheet programming recommendations. Spreadsheets raise issues inadequately addressed by…
Measuring systemic risk or fragility of financial systems is a ubiquitous task of fundamental importance in analyzing market efficiency, portfolio allocation, and containment of financial contagions. Recent attempts have shown that…
We consider a model of contagion in financial networks recently introduced in the literature, and we characterize the effect of a few features empirically observed in real networks on the stability of the system. Notably, we consider the…
In this paper, we introduce an impact centrality measure to evaluate shock propagation on financial networks capturing a notion of contagion and systemic risk contributions, permitting comparisons of these risks over time. In addition, we…
Past studies show that only a small percent of organizations implement and enforce formal rules or informal guidelines for the designing, testing, documenting, using, modifying, sharing and archiving of spreadsheet models. Due to lack of…
Whilst academic, commercial and policy literature on financial exclusion is extensive and wide-ranging, there have been very few attempts to quantify and measure localised financial exclusion anywhere in the world. This is a subject of…
In this paper we consider human factors and their impact on spreadsheet development in strategic decision-making. This paper brings forward research from many disciplines both directly related to spreadsheets and a broader spectrum from…
We consider the challenge of creating guidelines to evaluate the quality of a spreadsheet model. We suggest four principles. First, state the domain-the spreadsheets to which the guidelines apply. Second, distinguish between the process by…
A new MS Excel application has been developed which seeks to reduce the risks associated with the development, operation and auditing of Excel spreadsheets. FormulaDataSleuth provides a means of checking spreadsheet formulas and data as…
Fifteen years of research studies have concluded unanimously that spreadsheet errors are both common and non-trivial. Now we must seek ways to reduce spreadsheet errors. Several approaches have been suggested, some of which are promising…
Common asset holdings are widely believed to have been the primary vector of contagion in the recent financial crisis. We develop a network approach to the amplification of financial contagion due to the combination of overlapping…
Credit and liquidity risks represent main channels of financial contagion for interbank lending markets. On one hand, banks face potential losses whenever their counterparties are under distress and thus unable to fulfill their obligations.…
EuSpRIG concerns direct researchers to revisit spreadsheet education, taking into account error auditing tools, checklists, and good practices. This paper aims at elaborating principles to design a spreadsheet curriculum. It mainly focuses…
The importance of adequately modeling credit risk has once again been highlighted in the recent financial crisis. Defaults tend to cluster around times of economic stress due to poor macro-economic conditions, {\em but also} by directly…
Financial crimes like money laundering and terrorism financing can have significant impacts on society, including loss of trust in the integrity of the financial system, misuse and mismanagement of public funds, increase in societal…
We propose a research strategy for creating and deploying prescriptive recommendations for spreadsheet practice. Empirical data on usage can be used to create a taxonomy of spreadsheet classes. Within each class, existing practices and…
Despite strong evidence of widespread errors, spreadsheet developers rarely subject their spreadsheets to post-development testing to reduce errors. This may be because spreadsheet developers are overconfident in the accuracy of their…
As it is known in the finance risk and macroeconomics literature, risk-sharing in large portfolios may increase the probability of creation of default clusters and of systemic risk. We review recent developments on mathematical and…
We investigate the expressive power of spreadsheets. We consider spreadsheets which contain only formulas, and assume that they are small templates, which can be filled to a larger area of the grid to process input data of variable size.…
We developed an internet-based questionnaire on spreadsheet use that we administered to a large number of users in several companies and organizations to document how spreadsheets are currently being developed and used in business. In this…