Related papers: Spreadsheets and the Financial Collapse
In the current era of worldwide stock market interdependencies, the global financial village has become increasingly vulnerable to systemic collapse. The recent global financial crisis has highlighted the necessity of understanding and…
We analyse the importance of international relations between countries on the financial stability. The contagion effect in the network is tested by implementing an epidemiological model, comprising a number of European countries and using…
The use of spreadsheets in industry is widespread. Companies base decisions on information coming from spreadsheets. Unfortunately, spreadsheets are error-prone and this increases the risk that companies base their decisions on inaccurate…
The credit crisis roiling the world's financial markets will likely take years and entire careers to fully understand and analyze. A short empirical investigation of the current trends, however, demonstrates that the losses in certain…
Various techniques for developing spreadsheet models greatly improve the chance that the end result will not contain basic mechanical errors. However, for every discipline in which a given technique is useful, there is likely to be another…
Her Majestys Revenue & Customs (HMRC) was born out of the need to create a UK tax authority by merging both the Inland Revenue and HM Customs & Excise into one department. HMRC encounters spreadsheets in tax-payers systems on a very regular…
Spreadsheets are used extensively in industry, often for business critical purposes. In previous work we have analyzed the information needs of spreadsheet professionals and addressed their need for support with the transition of a…
A central challenge in science is to understand how systems behaviors emerge from complex networks. This often requires aggregating, reusing, and integrating heterogeneous information. Supplementary spreadsheets to articles are a key data…
All users of spreadsheets struggle with the problem of errors. Errors are thought to be prevalent in spreadsheets, and in some instances they have cost organizations millions of dollars. In a previous study of 50 operational spreadsheets we…
In this final chapter, we consider the state-of-the-art for spreading in social systems and discuss the future of the field. As part of this reflection, we identify a set of key challenges ahead. The challenges include the following…
Developing an error-free spreadsheet has been a problem since the beginning of end-user computing. In this paper, we present a methodology that separates the modeling from the implementation. Using proven techniques from Information Systems…
Corporate insolvency can have a devastating effect on the economy. With an increasing number of companies making expansion overseas to capitalize on foreign resources, a multinational corporate bankruptcy can disrupt the world's financial…
Node centrality is one of the most important and widely used concepts in the study of complex networks. Here, we extend the paradigm of node centrality in financial and economic networks to consider the changes of node "importance" produced…
The international financial system is currently not yet prepared to face a foreseeable crisis mainly motivated by the dichotomy between the real economy and the virtual economy. Skepticism is widespread even when it comes to investments in…
Macroeconomic factors have a critical impact on banking credit risk, which cannot be directly controlled by banks, and therefore, there is a need for an early credit risk warning system based on the macroeconomy. By comparing different…
Spreadsheets are the go-to tool for computerized calculation and modelling, but are hard to comprehend and adapt after reaching a certain complexity. In general, cognition of complex systems is facilitated by having a higher order mental…
Most organizations use large and complex spreadsheets that are embedded in their mission-critical processes and are used for decision-making purposes. Identification of the various types of errors that can be present in these spreadsheets…
This paper investigates some indicators of financial development in select countries with currency board systems and raises some questions about the connection between financial development and growth in currency board systems. Most of…
Amongst the large number of write-and-throw-away spreadsheets developed for one-time use there is a rather neglected proportion of spreadsheets that are huge, periodically used, and submitted to regular update-cycles like any conventionally…
We present a network-based framework for simulating systemic risk that considers shock propagation in banking systems. In particular, the framework allows the modeller to reflect a top-down framework where a shock to one bank in the system…