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This work investigates the spatio-temporal evolution of coherentstructures in the wake of a high-speed train. SPOD is used to extract energy spectra and empirical modes for both symmetric and antisymmetric components of the fluctuating flow…
We analyze cascades of defaults in an interbank loan market. The novel feature of this study is that the network structure and the size distribution of banks are derived from empirical data. We find that the ability of a defaulted…
We introduce a dynamic spatiotemporal volatility model that extends traditional approaches by incorporating spatial, temporal, and spatiotemporal spillover effects, along with volatility-specific observed and latent factors. The model…
Holistic analysis of many real-world problems are based on data collected from multiple sources contributing to some aspect of that problem. The word fusion has also been used in the literature for such problems involving disparate data…
The insufficient understanding of the credit network structure was recognized as a key factor for regulators' underestimation of the destructive systematic risk during the financial crisis that started in 2007. The existing credit network…
Many real-world systems are often regarded as weakly coupled limit-cycle oscillators, in which each oscillator corresponds to a dynamical system with many degrees of freedom that have collective oscillations. One of the most practical…
In this paper, we demonstrate the fragility of decentralized load-side frequency algorithms proposed in [1] against stochastic parametric uncertainty in power network model. The stochastic parametric uncertainty is motivated through the…
Based on an empirical analysis of the network structure of the Austrian inter-bank market, we study the flow of funds through the banking network following exogenous shocks to the system. These shocks are implemented by stochastic changes…
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 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…
Synchronization of networked oscillators is known to depend fundamentally on the interplay between the dynamics of the graph's units and the microscopic arrangement of the network's structure. For non identical elements, the lack of…
Understanding the effects of economic shocks on firms is critical for analyzing economic growth and resilience. We introduce a Web-Based Affectedness Indicator (WAI), a general-purpose tool for real-time monitoring of economic disruptions…
This paper analyzes realized return behavior across a broad set of crypto assets by estimating heterogeneous exposures to idiosyncratic and systematic risk. A key challenge arises from the latent nature of broader economy-wide risk sources:…
Resilience is becoming crucial for future wireless networks, which must withstand, adapt to, and recover from rare but potentially cascading disruptions. This paper develops a sequential Monte Carlo (SMC) simulation framework for such…
The scope of financial systemic risk research encompasses a wide range of interbank channels and effects, including asset correlation shocks, default contagion, illiquidity contagion, and asset fire sales. This paper introduces a financial…
With a steadily growing population and rapid advancements in technology, the global economy is increasing in size and complexity. This growth exacerbates global vulnerabilities and may lead to unforeseen consequences such as global…
The emergence of dynamical abrupt transitions in the macroscopic state of a system is currently a subject of the utmost interest. Given a set of phase oscillators networking with a generic wiring of connections and displaying a generic…
Characterizing the connectivity tendency of a network is a fundamental problem in network science. The traditional and well-known assortativity coefficient is calculated on a per-network basis, which is of little use to partial connection…
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…
This paper proposes factor stochastic volatility models with skew error distributions. The generalized hyperbolic skew t-distribution is employed for common-factor processes and idiosyncratic shocks. Using a Bayesian sparsity modeling…