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AGSOE: Arbeitsgruppe Physik sozio-ökonomischer Systeme

AGSOE 19: Networks: From Topology to Dynamics IV

AGSOE 19.2: Talk

Thursday, March 26, 2009, 16:30–17:00, BAR 205

Networks of monetary transactions as signals of growth or decay in production chains — Marco Lamieri¹, •Volker Nannen¹, and Guy Kelman² — ¹Fondazione ISI, Torino, Italy — ²Hebrew University, Jerusalem, Israel

While numerous publications have acknowledged the fact that businesses form a network and that the nature of this network has significant consequences for the economic dynamics, to the best of our knowledge no attempt has so far been made to extract this network from transaction records.

Here we use the database of economic transactions (bank transfers and financial factoring among Italian firms) provided by Intesa Sanpaolo s.p.a., the biggest Italian commercial bank group. The available sample covers 80% of Italian firms and represents about 25% of the total value of Italian financial transactions. The sample is representative both at the sector level and at the geographical level.

We aggregate the raw data into a comprehensive dynamic transaction network where the nodes are firms, characterized by turnover and risk level, and the links are transactions. We present the statistical properties of this network like the dynamics of the connectivity and monetary flow. Special attention is given to the effects of the current financial crisis.