2,786 research outputs found
The multiplex structure of interbank networks
The interbank market has a natural multiplex network representation. We
employ a unique database of supervisory reports of Italian banks to the Banca
d'Italia that includes all bilateral exposures broken down by maturity and by
the secured and unsecured nature of the contract. We find that layers have
different topological properties and persistence over time. The presence of a
link in a layer is not a good predictor of the presence of the same link in
other layers. Maximum entropy models reveal different unexpected substructures,
such as network motifs, in different layers. Using the total interbank network
or focusing on a specific layer as representative of the other layers provides
a poor representation of interlinkages in the interbank market and could lead
to biased estimation of systemic risk.Comment: 41 pages, 8 figures, 10 table
Ties configuration in entrepreneurs’ personal network and economic performances in African urban informal economy
As to explore social networks influence in African informal economy, this paper fits in the conceptual framework of reticular embeddedness. By going into the analyse of ties strength, our purpose is to question the real influence of ties content. We use a recent original dataset to evaluate how entrepreneurs’ networks influence their activities economic outcomes. ‘Multiple name generators’ method provides a vast amount of information about ties content, which can be treated by factor analysis to describe and categorize networks. Finally, we show that not only business ties but the particular configuration of ties strength in networks improve informal earnings.Informal economy ; embeddedness ; social networks ; informal earnings
Ties configuration in entrepreneurs’ personal network and economic performances in African urban informal economy
As to explore social networks influence in African informal economy, this paper fits in the conceptual framework of reticular embeddedness. By going into the analyse of ties strength, our purpose is to question the real influence of ties content. We use a recent original dataset to evaluate how entrepreneurs’ networks influence their activities economic outcomes. ‘Multiple name generators’ method provides a vast amount of information about ties content, which can be treated by factor analysis to describe and categorize networks. Finally, we show that not only business ties but the particular configuration of ties strength in networks improve informal earnings.Informal economy; embeddedness; social networks; informal earnings
Multilayer Networks in a Nutshell
Complex systems are characterized by many interacting units that give rise to
emergent behavior. A particularly advantageous way to study these systems is
through the analysis of the networks that encode the interactions among the
system's constituents. During the last two decades, network science has
provided many insights in natural, social, biological and technological
systems. However, real systems are more often than not interconnected, with
many interdependencies that are not properly captured by single layer networks.
To account for this source of complexity, a more general framework, in which
different networks evolve or interact with each other, is needed. These are
known as multilayer networks. Here we provide an overview of the basic
methodology used to describe multilayer systems as well as of some
representative dynamical processes that take place on top of them. We round off
the review with a summary of several applications in diverse fields of science.Comment: 16 pages and 3 figures. Submitted for publicatio
Mesoscopic Community Structure of Financial Markets Revealed by Price and Sign Fluctuations
The mesoscopic organization of complex systems, from financial markets to the
brain, is an intermediate between the microscopic dynamics of individual units
(stocks or neurons, in the mentioned cases), and the macroscopic dynamics of
the system as a whole. The organization is determined by "communities" of units
whose dynamics, represented by time series of activity, is more strongly
correlated internally than with the rest of the system. Recent studies have
shown that the binary projections of various financial and neural time series
exhibit nontrivial dynamical features that resemble those of the original data.
This implies that a significant piece of information is encoded into the binary
projection (i.e. the sign) of such increments. Here, we explore whether the
binary signatures of multiple time series can replicate the same complex
community organization of the financial market, as the original weighted time
series. We adopt a method that has been specifically designed to detect
communities from cross-correlation matrices of time series data. Our analysis
shows that the simpler binary representation leads to a community structure
that is almost identical with that obtained using the full weighted
representation. These results confirm that binary projections of financial time
series contain significant structural information.Comment: 15 pages, 7 figure
Community analysis of global financial markets
We analyze the daily returns of stock market indices and currencies of 56 countries over the period of 2002–2012. We build a network model consisting of two layers, one being the stock market indices and the other the foreign exchange markets. Synchronous and lagged correlations are used as measures of connectivity and causality among different parts of the global economic system for two different time intervals: non-crisis (2002–2006) and crisis (2007–2012) periods. We study community formations within the network to understand the influences and vulnerabilities of specific countries or groups of countries. We observe different behavior of the cross correlations and communities for crisis vs. non-crisis periods. For example, the overall correlation of stock markets increases during crisis while the overall correlation in the foreign exchange market and the correlation between stock and foreign exchange markets decrease, which leads to different community structures. We observe that the euro, while being central during the relatively calm period, loses its dominant role during crisis. Furthermore we discover that the troubled Eurozone countries, Portugal, Italy, Greece and Spain, form their own cluster during the crisis period.Published versio
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