Networks and systemic risk in the financial system
讨论网络模型（尤其是流行病学方法）如何描述金融系统结构、解释全球金融危机中的传染机制，并探讨其对压力测试和系统重要性机构监管的启示。
Abstract The complex web of exposures and interlinkages across the financial system highlights the relevance of network analysis in understanding systemic risk and guiding the design of financial regulation. This paper discusses how network models—and those based on epidemiological approaches in particular—offer a compelling description of the structure of real-world financial systems and shed light on different contagion mechanisms seen during the global financial crisis. We also review how these insights may inform macroprudential risk assessment and policy in the areas of stress-testing the financial system and the regulation of systemically important institutions. The role of non-bank financial intermediation and social networks in shaping financial system risk is also briefly considered.