Related papers: Shock Propagation and Macroeconomic Fluctuations
Potential energy stored during the inter-seismic period by tectonic loading around faults is released during earthquakes as radiated energy, heat and fracture energy. The latter is of first importance since it controls the nucleation,…
The structure and design of optimal supply networks is an important topic in complex networks research. A fundamental trait of natural and man-made networks is the emergence of loops and the trade-off governing their formation: adding…
A natural phenomenon occurring in a living system is an outcome of the dynamics of the specific biological network underlying the phenomenon. The collective dynamics have both deterministic and stochastic components. The stochastic nature…
Based on the tick-by-tick stock prices from the German and American stock markets, we study the statistical properties of the distribution of the individual stocks and the index returns in highly collective and noisy intervals of trading,…
No matter its source, financial- or policy-related, uncertainty can feed onto itself, inflicting the real economic sector, altering expectations and behaviours, and leading to identification challenges in empirical applications. The strong…
The goal of this paper is to study organized flocking behavior and systemic risk in heterogeneous mean-field interacting diffusions. We illustrate in a number of case studies the effect of heterogeneity in the behavior of systemic risk in…
The mechanisms governing the low-frequency unsteadiness in the shock wave/turbulent boundary layer interaction at Mach 2 are considered. The investigation is conducted based on the numerical database issued from large-eddy simulations…
Earthquakes are produced by the propagation of rapid slip along tectonic faults. The propagation dynamics is governed by a balance between elastic stored energy in the surrounding rock, and dissipated energy at the propagating tip of the…
The aim of this paper is to quantify and manage systemic risk caused by default contagion in the interbank market. We model the market as a random directed network, where the vertices represent financial institutions and the weighted edges…
We introduce a parsimonious multi-sector model of international production and use it to study the impact of a disruption in the production of some goods propagates to other goods and consumers, and how that impact depends on the goods'…
Fluctuations and noise may alter the behavior of dynamical systems considerably. For example, oscillations may be sustained by demographic fluctuations in biological systems where a stable fixed point is found in the absence of noise. We…
In this paper, we design two chapters to discuss trade dynamics with heterogeneous fluctuations, contributing new insights to macroeconomic issues related to international trade. In the first chapter, we model general exchange rate…
Infectious diseases and computer malwares spread among humans and computers through the network of contacts among them. These networks are characterized by wide connectivity fluctuations, connectivity correlations and the small-world…
Production in an economy is a set of firms' activities as suppliers and customers; a firm buys goods from other firms, puts value added and sells products to others in a giant network of production. Empirical study is lacking despite the…
We analyse diffusion dynamics on weakly-coupled networks (interconnected networks) by means of separation of time scales. Using an adiabatic approximation we reduced the system dynamics to a Markov chain with aggregated variables and…
Human social behavior is organized in stratified, hierarchical networks, with a support group with about 5 members, expanding proportionally at each layer up to a maximum of approximately 150 frequent interactions per individual. This is…
We estimate the short-run effects of weather-related disasters on local economic activity and cross-border spillovers that operate through economic linkages between U.S. states. To this end, we use emergency declarations triggered by…
This paper develops a Hall-Sandpile model of economic instability that combines a Hall-like transversal stress mechanism with sandpile threshold dynamics on a real production-network substrate. In analogy with the physical Hall effect,…
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…
The physics of micron-scale biological colonies usually benefits from different out-of-equilibrium sources. In bacterial colonies and cellular tissues, the growth process is among the important active sources that determine the dynamics. In…