Advertisement

Topics

Fragmentation, integration and macroprudential surveillance of the US financial industry: Insights from network science.

08:00 EDT 25th April 2018 | BioPortfolio

Summary of "Fragmentation, integration and macroprudential surveillance of the US financial industry: Insights from network science."

Drawing on recent contributions inferring financial interconnectedness from market data, our paper provides new insights on the evolution of the US financial industry over a long period of time by using several tools coming from network science. Relying on a Time-Varying Parameter Vector AutoRegressive (TVP-VAR) approach on stock market returns to retrieve unobserved directed links among financial institutions, we reconstruct a fully dynamic network in the sense that connections are let to evolve through time. The financial system analysed consists of a large set of 155 financial institutions that are all the banks, broker-dealers, insurance and real estate companies listed in the Standard & Poors' 500 index over the 1993-2014 period. Looking alternatively at the individual, then sector-, community- and system-wide levels, we show that network sciences' tools are able to support well-known features of the financial markets such as the dramatic fall of connectivity following Lehman Brothers' collapse. More importantly, by means of less traditional metrics, such as sectoral interface or measurements based on contagion processes, our results document the co-existence of both fragmentation and integration phases between firms independently from the sectors they belong to, and doing so, question the relevance of existing macroprudential surveillance frameworks which have been mostly developed on a sectoral basis. Overall, our results improve our understanding of the US financial landscape and may have important implications for risk monitoring as well as macroprudential policy design.

Affiliation

Journal Details

This article was published in the following journal.

Name: PloS one
ISSN: 1932-6203
Pages: e0195110

Links

DeepDyve research library

PubMed Articles [8622 Associated PubMed Articles listed on BioPortfolio]

Industry Funding Is Correlated With Publication Productivity of US Academic Radiation Oncologists.

Industry payments to physicians are financial conflicts of interest and may influence research findings and medical decisions. We aim to (1) characterize industry payments within radiation oncology; a...

Avian Influenza in the U.S. Commercial Upland Game Bird Industry: An Analysis of Selected Practices as Potential Exposure Pathways and Surveillance System Data Reporting.

Producing a smaller yield of higher-value birds compared to conventional poultry production, the U.S. commercial upland game bird industry deals primarily in the sale of live birds for recreational hu...

Policy uncertainty and corporate performance in government-sponsored voluntary environmental programs.

This study combines insights from the policy uncertainty literature and neo-institutional theory to examine corporate performance in implementing a government-sponsored voluntary environmental program...

Ethical Issues Pertaining to Conflicts of Interest Between Neurologists and the Pharmaceutical and Medical Device Industries.

A conflict of interest (COI) exists when a physician's professional responsibilities are compromised by personal or financial relationships. COIs between physicians and the pharmaceutical or medical d...

Industry Payments to Obstetricians and Gynecologists Under the Sunshine Act.

To evaluate financial relationships between obstetrician-gynecologists (ob-gyns) and industry, including the prevalence, magnitude, and the nature of payments.

Clinical Trials [1936 Associated Clinical Trials listed on BioPortfolio]

Physician Disclosures in the Real World of Conflicting Interests

This study seeks to ascertain the best way to inform patients about their physicians' conflicts of interest (COI) with industry. Currently, there is no institutional or national standard f...

The Effect of Different Financial Competing Interest Statements on Readers' Perceptions of Clinical Educational Articles

Financial ties with industry are common among doctors, academics and institutions. This trial aims to investigate the influence of different types of industry-linked activities on readers'...

Impact of Antioxidant Treatment on DNA Fragmentation Index

Increased sperm DNA Fragmentation Index implies decreased male fertility in vivo and in vitro. There is need for developing new strategies for improvement of male fertility. The study aims...

The Impact of Family Financial Support on Parental Mental Health

We have partnered with financial coaching organizations to establish what we have termed a "Medical-Financial Partnership (MFP)" that offers financial coaching to improve financial and men...

The Impact of Family Financial Support on Cognition

We have partnered with financial coaching organizations to establish what we have termed a "Medical-Financial Partnership (MFP)" that offers financial coaching to improve financial and men...

Medical and Biotech [MESH] Definitions

Splitting the DNA into shorter pieces by endonucleolytic DNA CLEAVAGE at multiple sites. It includes the internucleosomal DNA fragmentation, which along with chromatin condensation, are considered to be the hallmarks of APOPTOSIS.

Insertion of viral DNA into host-cell DNA. This includes integration of phage DNA into bacterial DNA; (LYSOGENY); to form a PROPHAGE or integration of retroviral DNA into cellular DNA to form a PROVIRUS.

Surveillance of drugs, devices, appliances, etc., for efficacy or adverse effects, after they have been released for general sale.

The aggregate of manufacturing or technically productive enterprises in a particular field, often named after its principle product, as "the automobile industry", "the steel industry". It includes the ownership and management of companies, factories, industrial plants, etc. (From Random House Unabridged Dictionary, 2d ed)

An examination, review and verification of all financial accounts.

Advertisement
Quick Search
Advertisement
Advertisement

 


DeepDyve research library

Searches Linking to this Article