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Operationalization Of The Composite Model Of The Financial Network Of The Economy. Cefimo 2010 Experiment

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  • Manolescu, Gheorghe

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

Abstract

The economy can be approached as a network, the financialmonetary network being one of its components, characterized by composition, configuration and architecture. This approach allows the composite modelling of the financial network; the composite financial network is an assembly of interactions between independent, delimited parts (real or not) which support each other within the assembly; the signification of the parts is defined only within these interactions. The composite modelling of the complex financial networks allows the division of a model in modules, each of them including a set of component. Thus, the network of the interbanking interactions has been divided into five modules, trying to interpret and evaluate the transmission of the shocks and non-payments within the network. CEFIMO experiment reveals, on the basis of a set of parameters, the impact of the banking exposures, of the interactions and merging on the network contagion of non-payments and opens the possibility to analyse the liquidity risk and expands, by differentiation, the analysis of the composite interbanking network.

Suggested Citation

  • Manolescu, Gheorghe, 2011. "Operationalization Of The Composite Model Of The Financial Network Of The Economy. Cefimo 2010 Experiment," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 15(1), pages 242-257.
    • Handle: RePEc:vls:finstu:v:15:y:2011:i:1:p:242-257
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    Keywords

    financial network; financial system; monetary financial flows; composite model;
    All these keywords.

    JEL classification:

    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation

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