Berlin 2012 – wissenschaftliches Programm
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DY: Fachverband Dynamik und Statistische Physik
DY 18: Networks II (with SOE)
DY 18.6: Vortrag
Mittwoch, 28. März 2012, 11:45–12:00, H 0110
Cascading Failures on the Banking Network — •Maximilian Thess1,2, Eckehard Schöll2, and Sitabhra Sinha1 — 1Institute of Mathematical Sciences Chennai, India — 2Institut für Theoretische Physik, Technische Universität Berlin, Germany
Following the recent financial crisis complex networks have been applied increasingly to study properties of the financial system. The interplay between topology and dynamics of networks is of current interest in systems ranging from physics and biology to the social sciences and economics. Dynamical and topological properties of the financial system are of crucial importance to its stability and an increased understanding can inform for example better regulatory policies.
In our contribution we study a simple model of cascading bank failures on the US interbank lending network. We characterize the network using measures from complex network theory and illustrate local and global stability. Through numerical simulations we study the impact of single-bank defaults on global system stability. To identify superspreader-banks based on their topological features we compare several ways of measuring their importance .