Financial institutions form multilayer networks by engaging in contracts with each other and by holding exposures to common assets. As a result, the default probability of one institution depends on the default probability of all of the other institutions in the network. Here, we show how small errors on the knowledge of the network of contracts can lead to large errors in the probability of systemic defaults. From the point of view of financial regulators, our findings show that the complexity of financial networks may decrease the ability to mitigate systemic risk, and thus it may increase the social cost of financial crises.
This research output has an Altmetric Attention Score of 91. This is our high-level measure of the quality and quantity of online attention that it has received. This Attention Score, as well as the ranking and number of research outputs shown below, was calculated when the research output was last mentioned on 01 January 2024.
All research outputs
#591,478
of 34,360,889 outputs
Outputs from Proceedings of the National Academy of Sciences of the United States of America
#9,460
of 118,929 outputs
Outputs of similar age
#8,459
of 343,858 outputs
Outputs of similar age from Proceedings of the National Academy of Sciences of the United States of America
#148
of 896 outputs
Altmetric has tracked 34,360,889 research outputs across all sources so far. Compared to these this one has done particularly well and is in the 98th percentile: it's in the top 5% of all research outputs ever tracked by Altmetric.
So far Altmetric has tracked 118,929 research outputs from this source. They typically receive a lot more attention than average, with a mean Attention Score of 40.1. This one has done particularly well, scoring higher than 92% of its peers.
Older research outputs will score higher simply because they've had more time to accumulate mentions. To account for age we can compare this Altmetric Attention Score to the 343,858 tracked outputs that were published within six weeks on either side of this one in any source. This one has done particularly well, scoring higher than 97% of its contemporaries.
We're also able to compare this research output to 896 others from the same source and published within six weeks on either side of this one. This one has done well, scoring higher than 83% of its contemporaries.
