Network sensitivity of systemic risk

A growing body of studies on systemic risk in financial markets has emphasized the key importance of taking into consideration the complex interconnections among financial institutions. Much effort has been put into modeling the contagion dynamics of financial shocks and into assessing the resilience of specific financial markets, either using real network data, reconstruction techniques or simple toy networks. Here, we address the more general problem of how shock propagation dynamics depend on the topological details of the underlying network. To this end, we consider different realistic network topologies, all consistent with balance sheet information obtained from real data on financial institutions. In particular, we consider networks of varying density and with different block structures. In addition, we diversify in the details of the shock propagation dynamics. We confirm that the systemic risk properties of a financial network are extremely sensitive to its network features. Our results can aid in the design of regulatory policies to improve the robustness of financial markets

Backtesting macroprudential stress tests

Macroprudential stress tests generate a wide range of stress outcomes, depending on the chosen input parameters. Building on the concept of reverse stress tests, we embrace this parameter sensitivity in a backtesting exercise. We generalize an otherwise standard model of price-mediated contagion by interpolating between different liquidation dynamics among banks (leverage targeting vs. threshold dynamics). We then test the capability of this model to match actual bank non-/defaults in the United States for the years 2008–10, where we treat the underlying liquidation dynamics as another free input parameter. While the model performance depends on the type of shock being imposed, we find that all liquidation dynamics we consider can explain to some extent (in particular better than a random benchmark) the pattern of defaults observed during the subprime crisis. We identify the region in the parameter space where a specific dynamic leads to the best fit of the data, and in the most relevant regime (illiquid asset markets and small initial shocks) leverage targeting turns out to provide the most accurate results. We also show how the results depend on the initial shock level, the market impact parameter, on the number of asset liquidation rounds, and the chosen liquidation functions

Pengenalan Media Pembelajaran Pemrograman Membuat Website Pada Html Smk Swasta Harapan Padangsidimpuan

Pelaksanaan kegiatan ini dilatarbelakangi sistem pembelajaran yang masih menggunakan metode yang lama seperti ceramah, diskusi, tanya jawab dan lainnya. Dari keadaan ini maka perlu dilakukan suatu terobosan baru dengan mengajarkan siswa tentang pembelajaran pemrograman membuat website di SMK Swasta Harapan padangsidimpuan. Pada prosses pembelajaran peserta didik diharapkan mampu mendapat pengalaman baru melalui media pembelajaran interaktif yaitu menggunakan aplikasi pemrograman. Media pembelajaran ini diperlukan agar peserta didik mengerti dan memahami cara mengoperasikan program dengan menggunakan aplikasi Visual Studio Code. Metode yang digunakan dalam kegiatan ini adalah metode pendekatan agar peserta didik dapat mendalami dan termotivasi dalam pembelajaran. Hasil yang didapatkan dalam kegiatan ini adalah tingginya partisifasi peserta didik dalam melakukan pembelajaran pembuatan website menggunakan Visual Studio Code dengan Fasilitas yang sudah disediakan sekolah. The implementation of this activity is based on a learning system that still uses the old methods such as lectures, discussions, questions and answers and others. From this situation, it is necessary to make a new breakthrough by teaching students about learning programming to create a website at the Harapan Padangsidimpuan Private Vocational School. In the learning process, students are expected to be able to get new experiences through interactive learning media, namely using programming applications. This learning media is needed so that students understand and understand how to operate the program using the Visual Studio Code application. The method used in this activity is an approach method so that students can explore and be motivated in learning. The results obtained in this activity are the high participation of students in learning to make websites using Visual Studio Code with facilities that have been provided by the schoo