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Recent Advances in the Economics of Risk


  • Covaci, Brindusa

    () (Osterreichish-Rumanischer Akademischer Verein)


The paper is analysing which is the recently developed modalitis of econometric natural philosophy are developing financial and banking field in the context of current crisis. This field of analyse provides an analytical framework that treats the complex artifact of money establishments as an artifact of elements, or connections, that are connected to one another, through arches. This analyse shows that the system of money transactions between money establishments possess fractal artifact is similar to the observed problems in system artifacts in the natural world (such as river sinks) or the artifact of the network. Also was find that money establishments situated in the middle of the system artifact hold more arches than those establishments on the periphery of the system, implying that the formed artifact is a result of the pursuance of efficiency rather than stability. It should pay enough attention to the dynamic nature of the system artifact in order to evaluate its stability, since the system artifact of money transactions is not static in nature (the system is not based upon hardware like cables, as in the case of the network). Thus, there is a need to confirm the stability of the system artifact over time. In this respect, further holomorphic of dynamic systems is worth a try, based on the evidence shown in this paper which confirms a certain degree of robustness within the financial and banking system.

Suggested Citation

  • Covaci, Brindusa, 2011. "Recent Advances in the Economics of Risk," Papers 2011/1, Osterreichish-Rumanischer Akademischer Verein.
  • Handle: RePEc:ris:sphedp:2011_001

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    analytical framework; money establishments; fractal financial and banking; artifact system;

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General

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