Related papers: Increasing countries financial resilience through …
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…
We are investigating a paradigm of instability in coalition forming among countries, which indeed is intrinsic to any collection of individual groups or other social aggregations. Coalitions among countries are formed by the respective…
We study optimal proportional reinsurance and investment strategies for an insurance company which experiences both ordinary and catastrophic claims and wishes to maximize the expected exponential utility of its terminal wealth. We propose…
Various types of structures that enable a group of individuals to pool their mortality risk have been proposed in the literature. Collectively, the structures are called pooled annuity funds. Since the pooled annuity funds propose different…
The paper provides a framework for the assessment and optimization of the total risk of complex distributed systems. The framework takes into account the risk of each agent, which may arise from heterogeneous sources, as well as the risk…
Fighting against climate change is a global challenge shared by nations with heterogeneous economical resources and individuals with diverse propensity for cooperation. However, we lack a clear understanding of the role of key factors such…
A pressing challenge for coming decades is sustainable and just management of large-scale common-pool resources including the atmosphere, biodiversity and public services. This poses a difficult collective action problem because such…
During a financial crisis, the capital markets network frequently exhibits a high correlation between returns. We developed a network analysis framework based on daily returns from 42 countries to determine systemic stability. Our network…
The increasing integration of world economies, which organize in complex multilayer networks of interactions, is one of the critical factors for the global propagation of economic crises. We adopt the network science approach to quantify…
Cryptocurrencies (CCs) have risen rapidly in market capitalization over the last years. Despite striking price volatility, their high average returns have drawn attention to CCs as alternative investment assets for portfolio and risk…
Tropical storms cause extensive property damage and loss of life, making them one of the most destructive types of natural hazards. The development of predictive models that identify interventions effective at mitigating storm impacts has…
Securing an adequate supply of dispatchable resources is critical for keeping a power system reliable under high penetrations of variable generation. Traditional resource adequacy mechanisms are poorly suited to exploiting the growing…
Resource pooling in ad hoc networks deals with accumulating computing and network resources to implement network control schemes such as routing, congestion, traffic management, and so on. Pooling of resources can be accomplished using the…
Floods cause extensive global damage annually, making effective monitoring essential. While satellite observations have proven invaluable for flood detection and tracking, comprehensive global flood datasets spanning extended time periods…
We study cross-country GDP losses due to financial crises in terms of frequency (number of loss events per period) and severity (loss per occurrence). We perform the Loss Distribution Approach (LDA) to estimate a multi-country aggregate GDP…
Sustainability of common-pool resources hinges on the interplay between human and environmental systems. However, there is still a lack of a novel and comprehensive framework for modelling extraction of common-pool resources and cooperation…
Energy markets are strategic to governments and economic development. Several commodities compete as substitutable energy sources and energy diversifiers. Such competition reduces the energy vulnerability of countries as well as portfolios'…
In today's tech-savvy world every industry is trying to formulate methods for recommending products by combining several techniques and algorithms to form a pool that would bring forward the most enhanced models for making the predictions.…
Banking system crises are complex events that in a short span of time can inflict extensive damage to banks themselves and to the external economy. The crisis literature has so far identified a number of distinct effects or channels that…
Electric utilities must make massive capital investments in the coming years to respond to explosive growth in demand, aging assets and rising threats from extreme weather. Utilities today already have rigorous frameworks for capital…