Interdependent networks in Economics and Finance—A Physics approach

Alex Smolyak, Orr Levy, Louis Shekhtman and Shlomo Havlin

Physica A: Statistical Mechanics and its Applications, 2018, vol. 512, issue C, 612-619

Abstract: Over the past few decades the world underwent several major economic and financial bubbles, such as the dot-com bubble of early 2000s and the global crisis following the collapse of the US housing market in 2008. Here we review the progress made in network theory as applied to economics and highlight some important insights complex networks allow into the highly interconnected economic system. Richness of phenomena that appears once we increase our complexity beyond a single network is explored and main results, as well as future research are discussed.

Keywords: Interdependence; Financial networks; Cascading Failures; Systemic Risk; Ranking Economies (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:512:y:2018:i:c:p:612-619

DOI: 10.1016/j.physa.2018.08.089

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