Related papers: Spreadsheets and the Financial Collapse
As impressively shown by the financial crisis in 2007/08, contagion effects in financial networks harbor a great threat for the stability of the entire system. Without sufficient capital requirements for banks and other financial…
Threats on the stability of a financial system may severely affect the functioning of the entire economy, and thus considerable emphasis is placed on the analyzing the cause and effect of such threats. The financial crisis in the current…
Economic interdependencies have become increasingly present in globalized production, financial and trade systems. While establishing interdependencies among economic agents is crucial for the production of complex products, they may also…
The document discusses the financial climate risk in the context of the banking industry, emphasizing the need for a comprehensive understanding of climate change across different spatial and temporal scales. It highlights the challenges in…
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 externalities between financial organizations (e.g.,…
Cloud Computing has caused a paradigm shift in the world of computing. Several use case scenarios have been floating around the programming world in relation to this. Applications such as Spreadsheets have the capability to use the Cloud…
Spreadsheets are widely used, and studies have shown that most end-user spreadsheets contain nontrivial errors. To improve end-users productivity, recent research proposes the use of a model-driven engineering approach to spreadsheets. In…
The negative externalities from an individual bank failure to the whole system can be huge. One of the key purposes of bank regulation is to internalize the social costs of potential bank failures via capital charges. This study proposes a…
Financial global crisis has devastating impacts to economies since early XX century and continues to impose increasing collateral damages for governments, enterprises, and society in general. Up to now, all efforts to obtain efficient…
Research capacity is critical in understanding systemic risk and informing new regulation. Banking regulation has not kept pace with all the complexities of financial innovation. The academic literature on systemic risk is rapidly…
Recent research has highlighted the high incidence of errors in spreadsheet models used in industry. In an attempt to reduce the incidence of such errors, a teaching approach has been devised which aids students to reduce their likelihood…
Street networks allow people and goods to move through cities, but they are vulnerable to disasters like floods, earthquakes, and terrorist attacks. Well-planned network design can make a city more resilient and robust to such disruptions,…
A growing body of studies on systemic risk in financial markets has emphasized the key importance of taking into consideration the complex interconnections among financial institutions. Much effort has been put in modeling the contagion…
Various works have already showed that common shocks and cross-country financial linkages caused the banking systems of several countries to be highly interconnected with the result that during bad times, banking crises may arise…
We review the state of the art of clustering financial time series and the study of their correlations alongside other interaction networks. The aim of this review is to gather in one place the relevant material from different fields, e.g.…
Cascading failures, such as bankruptcies and defaults, pose a serious threat for the resilience of the global financial system. Indeed, because of the complex investment and cross-holding relations within the system, failures can occur as a…
A review of 75 formal audit assignments shows that the effort taken to identify defects in financial models taken from the domain of limited recourse (project) finance is uncorrelated with common measures of the physical characteristics of…
Testing is a vital part of software development, and spreadsheets are like any other software in this respect. This paper discusses the testing of spreadsheets in the light of one practitioner's experience. It considers the concept of…
The financial crisis has dramatically demonstrated that the traditional approach to apply univariate monetary risk measures to single institutions does not capture sufficiently the perilous systemic risk that is generated by the…
Research on formulae production in spreadsheets has established the practice as high risk yet unrecognised as such by industry. There are numerous software applications that are designed to audit formulae and find errors. However these are…