Systemic Risk and Liquidity Rescue in a Complex Financial Network:A Study Based on China's Large Value Payment System
通过数学建模和模拟，研究中国大额支付系统中不同风险情景下的系统性风险动态模型，并比较四种流动性救助策略的优劣，发现均衡策略在多数情况下最优。
As for the systemic risk forecast and liquidity rescue under different risky scenarios in a financial complex network,at the angle of large value payment system(LVPS),via mathematic modeling and simulating, this paper constructs and demonstrates a dynamic model of systemic risk,and studies the performance of different rescue strategies under different liquidity rescue levels and different scenarios.The equilibrium strategy out of four selected strategies is dominant under most situations,and other three un-equilibrium strategies have their own advantages and disadvantages.The research methods and results are applicable to risk management in the LVPS and similar financial complex networks.