Networks In Finance

Author : Paul D. McNelis
Publisher : Academic Press
Page : 262 pages
File Size : 50,9 Mb
Release : 2005-01-05
Category : Business & Economics
ISBN : 9780124859678

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Neural Networks in Finance by Paul D. McNelis Pdf

This book explores the intuitive appeal of neural networks and the genetic algorithm in finance. It demonstrates how neural networks used in combination with evolutionary computation outperform classical econometric methods for accuracy in forecasting, classification and dimensionality reduction. McNelis utilizes a variety of examples, from forecasting automobile production and corporate bond spread, to inflation and deflation processes in Hong Kong and Japan, to credit card default in Germany to bank failures in Texas, to cap-floor volatilities in New York and Hong Kong. * Offers a balanced, critical review of the neural network methods and genetic algorithms used in finance * Includes numerous examples and applications * Numerical illustrations use MATLAB code and the book is accompanied by a website

Author : Franklin Allen,Ana Babus
Publisher : Pearson Education
Page : 38 pages
File Size : 49,5 Mb
Release : 2009-05-19
Category : Business & Economics
ISBN : 9780137015511

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The Network Challenge (Chapter 21) by Franklin Allen,Ana Babus Pdf

Modern financial systems exhibit a high degree of interdependence, with connections between financial institutions stemming from both the asset and the liability sides of their balance sheets. Networks--broadly understood as a collection of nodes and links between nodes--can be a useful representation of financial systems. By modeling economic interactions, network analysis can better explain certain economic phenomena. In this chapter, Allen and Babus argue that the use of network theories can enrich our understanding of financial systems. They explore several critical issues. First, they address the issue of systemic risk, by studying two questions: how resilient financial networks are to contagion, and how financial institutions form connections when exposed to the risk of contagion. Second, they consider how network theory can be used to explain freezes in the interbank market. Third, they examine how social networks can improve investment decisions and corporate governance, based on recent empirical results. Fourth, they examine the role of networks in distributing primary issues of securities. Finally, they consider the role of networks as a form of mutual monitoring, as in microfinance.

Author : Franklin Allen
Publisher : Unknown
Page : 20 pages
File Size : 42,5 Mb
Release : 2011
Category : Electronic
ISBN : OCLC:1290242538

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Networks in Finance by Franklin Allen Pdf

Modern financial systems exhibit a high degree of interdependence. There are different possible sources of connections between financial institutions, stemming from both the asset and the liability side of their balance sheet. For instance, banks are directly connected through mutual exposures acquired on the interbank market. Likewise, holding similar portfolios or sharing the same mass of depositors creates indirect linkages between financial institutions. Broadly understood as a collection of nodes and links between nodes, networks can be a useful representation of financial systems. By providing means to model the specifics of economic interactions, network analysis can better explain certain economic phenomena. In this paper we argue that the use of network theories can enrich our understanding of financial systems. We review the recent developments in financial networks, highlighting the synergies created from applying network theory to answer financial questions. Further, we propose several directions of research. First, we consider the issue of systemic risk. In this context, two questions arise: how resilient financial networks are to contagion, and how financial institutions form connections when exposed to the risk of contagion. The second issue we consider is how network theory can be used to explain freezes in the interbank market of the type we have observed in August 2007 and subsequently. The third issue is how social networks can improve investment decisions and corporate governance. Recent empirical work has provided some interesting results in this regard. The fourth issue concerns the role of networks in distributing primary issues of securities as, for example, in initial public offerings, or seasoned debt and equity issues. Finally, we consider the role of networks as a form of mutual monitoring as in microfinance.

Author : Anindya S. Chakrabarti,Lukáš Pichl,Taisei Kaizoji
Publisher : Springer Nature
Page : 458 pages
File Size : 43,7 Mb
Release : 2019-10-23
Category : Business & Economics
ISBN : 9789811383199

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Network Theory and Agent-Based Modeling in Economics and Finance by Anindya S. Chakrabarti,Lukáš Pichl,Taisei Kaizoji Pdf

This book presents the latest findings on network theory and agent-based modeling of economic and financial phenomena. In this context, the economy is depicted as a complex system consisting of heterogeneous agents that interact through evolving networks; the aggregate behavior of the economy arises out of billions of small-scale interactions that take place via countless economic agents. The book focuses on analytical modeling, and on the econometric and statistical analysis of the properties emerging from microscopic interactions. In particular, it highlights the latest empirical and theoretical advances, helping readers understand economic and financial networks, as well as new work on modeling behavior using rich, agent-based frameworks. Innovatively, the book combines observational and theoretical insights in the form of networks and agent-based models, both of which have proved to be extremely valuable in understanding non-linear and evolving complex systems. Given its scope, the book will capture the interest of graduate students and researchers from various disciplines (e.g. economics, computer science, physics, and applied mathematics) whose work involves the domain of complexity theory.

Author : T. R. Hurd
Publisher : Springer
Page : 139 pages
File Size : 52,9 Mb
Release : 2016-05-25
Category : Mathematics
ISBN : 9783319339306

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Contagion! Systemic Risk in Financial Networks by T. R. Hurd Pdf

This volume presents a unified mathematical framework for the transmission channels for damaging shocks that can lead to instability in financial systems. As the title suggests, financial contagion is analogous to the spread of disease, and damaging financial crises may be better understood by bringing to bear ideas from studying other complex systems in our world. After considering how people have viewed financial crises and systemic risk in the past, it delves into the mechanics of the interactions between banking counterparties. It finds a common mathematical structure for types of crises that proceed through cascade mappings that approach a cascade equilibrium. Later chapters follow this theme, starting from the underlying random skeleton graph, developing into the theory of bootstrap percolation, ultimately leading to techniques that can determine the large scale nature of contagious financial cascades.

Author : Sandra Navidi
Publisher : Nicholas Brealey
Page : 228 pages
File Size : 55,6 Mb
Release : 2017-01-24
Category : Business & Economics
ISBN : 9781857889796

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SUPERHUBS by Sandra Navidi Pdf

ONE OF BLOOMBERG'S BEST BOOKS, 2016 FOREWORD BY NOURIEL ROUBINI $UPERHUBS is a rare, behind-the-scenes look at how the world's most powerful titans, the -superhubs- pull the levers of our global financial system. Combining insider's knowledge with principles of network science, Sandra Navidi offers a startling new perspective on how superhubs build their powerful networks and how their decisions impact all our lives. $UPERHUBS reveals what happens at the exclusive, invitation-only platforms - The World Economic Forum in Davos, the meetings of the International Monetary Fund, think-tank gatherings and exclusive galas. This is the most vivid portrait to date of the global elite: the bank CEOs, fund managers, billionaire financiers and politicians who, through their interlocking relationships and collective influence are transforming our increasingly fragile financial system, economy and society.

Author : Franklin Allen
Publisher : Unknown
Page : 21 pages
File Size : 49,9 Mb
Release : 1900
Category : Electronic
ISBN : OCLC:1027167882

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Networks in Finance by Franklin Allen Pdf

This is the eBook version of the printed book. If the print book includes a CD-ROM, this content is not included within the eBook version. Modern financial systems exhibit a high degree of interdependence, with connections.

Author : Anna Nagurney,Stavros Siokos
Publisher : Springer Science & Business Media
Page : 499 pages
File Size : 42,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642590665

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Financial Networks by Anna Nagurney,Stavros Siokos Pdf

Financial analysis is concerned with the study of capital flows over time and space. This book presents a new theory of multi-sector, multi-instrument financial systems based on the visualization of such systems as networks. The framework is both qualitative and computational and depends crucially on the methodologies of finite-dimensional variational inequality theory for the study of statics and equilibrium states and on projected dynamical systems for the study of dynamics and disequilibrium behavior. Moreover, it adds a graphical dimension to the fundamental economic structure of financial systems and their evolution through time.

Author : Anna Nagurney
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 40,8 Mb
Release : 2003
Category : Economics
ISBN : 1843764156

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Innovations in Financial and Economic Networks by Anna Nagurney Pdf

Networks provide the foundation for the functioning of our societies and economies. Their study has a long tradition in such fields as engineering, operations research, management science and computer science. More recently, the disciplines of finance and economics have to be rich sources of network-based problems and applications. This volume of contributions from international scholars provides a wealth of innovations in the study of financial and economic networks. graph, the evolutions of financial systems as networks, the incorporation of electronic transactions in international finance (from a network perspective), new formalisms for the study of supply chains (as fluid models and in a network economic framwork) and new applications of agent-based computational economics trade network intermediaries and worker-employer networks. Finally, trade networks in web-based caching are introduced. transaction costs, integrated pension and corporate planning, evolutionary financial networks, international finance and electronic transactions as well as hedging instruments for transportation networks. Innovative approaches to economic networks are developed in the context of supply chain distribution networks, a variety of trade (including web-based caching) networks and even worker-employer networks.

Author : Dariusz Wójcik
Publisher : Oxford University Press
Page : 848 pages
File Size : 48,8 Mb
Release : 2018-01-04
Category : Business & Economics
ISBN : 9780191072178

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The New Oxford Handbook of Economic Geography by Dariusz Wójcik Pdf

The first fifteen years of the 21st century have thrown into sharp relief the challenges of growth, equity, stability, and sustainability facing the world economy. In addition, they have exposed the inadequacies of mainstream economics in providing answers to these challenges. This volume gathers over 50 leading scholars from around the world to offer a forward-looking perspective of economic geography to understanding the various building blocks, relationships, and trajectories in the world economy. The perspective is at the same time grounded in theory and in the experiences of particular places. Reviewing state-of-the-art of economic geography, setting agendas, and with illustrations and empirical evidence from all over the world, the book should be an essential reference for students, researchers, as well as strategists and policy makers. Building on the success of the first edition, this volume offers a radically revised, updated, and broader approach to economic geography. With the backdrop of the global financial crisis, finance is investigated in chapters on financial stability, financial innovation, global financial networks, the global map of savings and investments, and financialization. Environmental challenges are addressed in chapters on resource economies, vulnerability of regions to climate change, carbon markets, and energy transitions. Distribution and consumption feature alongside more established topics on the firm, innovation, and work. The handbook also captures the theoretical and conceptual innovations of the last fifteen years, including evolutionary economic geography and the global production networks approach. Addressing the dangers of inequality, instability, and environmental crisis head-on, the volume concludes with strategies for growth and new ways of envisioning the spatiality of economy for the future.

Author : Sergio Consoli,Diego Reforgiato Recupero,Michaela Saisana
Publisher : Springer Nature
Page : 357 pages
File Size : 50,7 Mb
Release : 2021
Category : Application software
ISBN : 9783030668914

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Data Science for Economics and Finance by Sergio Consoli,Diego Reforgiato Recupero,Michaela Saisana Pdf

This open access book covers the use of data science, including advanced machine learning, big data analytics, Semantic Web technologies, natural language processing, social media analysis, time series analysis, among others, for applications in economics and finance. In addition, it shows some successful applications of advanced data science solutions used to extract new knowledge from data in order to improve economic forecasting models. The book starts with an introduction on the use of data science technologies in economics and finance and is followed by thirteen chapters showing success stories of the application of specific data science methodologies, touching on particular topics related to novel big data sources and technologies for economic analysis (e.g. social media and news); big data models leveraging on supervised/unsupervised (deep) machine learning; natural language processing to build economic and financial indicators; and forecasting and nowcasting of economic variables through time series analysis. This book is relevant to all stakeholders involved in digital and data-intensive research in economics and finance, helping them to understand the main opportunities and challenges, become familiar with the latest methodological findings, and learn how to use and evaluate the performances of novel tools and frameworks. It primarily targets data scientists and business analysts exploiting data science technologies, and it will also be a useful resource to research students in disciplines and courses related to these topics. Overall, readers will learn modern and effective data science solutions to create tangible innovations for economic and financial applications.

Author : Guido Caldarelli
Publisher : OUP Oxford
Page : 328 pages
File Size : 50,5 Mb
Release : 2007-05-03
Category : Science
ISBN : 9780191526343

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Scale-Free Networks by Guido Caldarelli Pdf

A variety of different social, natural and technological systems can be described by the same mathematical framework. This holds from the Internet to food webs and to boards of company directors. In all these situations a graph of the elements of the system and their interconnections displays a universal feature. There are only few elements with many connections, and many elements with few connections. This book presents the experimental evidence of these "Scale-free networks" and provides students and researchers with a corpus of theoretical results and algorithms to analyse and understand these features. The content of this book and the exposition makes it a clear textbook for beginners, and a reference book for the experts.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 47,9 Mb
Release : 2016
Category : Electronic
ISBN : 178272219X

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Network Theory and Financial Risk by Anonim Pdf

Author : Robert R. Trippi,Efraim Turban
Publisher : Irwin Professional Publishing
Page : 872 pages
File Size : 40,5 Mb
Release : 1996
Category : Artificial intelligence
ISBN : UCSD:31822025890054

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Neural Networks in Finance and Investing by Robert R. Trippi,Efraim Turban Pdf

This completely updated version of the classic first edition offers a wealth of new material reflecting the latest developments in teh field. For investment professionals seeking to maximize this exciting new technology, this handbook is the definitive information source.

Author : Dimitris N Chorafas,Heinrich Steinmann
Publisher : Springer
Page : 253 pages
File Size : 50,5 Mb
Release : 2016-07-27
Category : Computers
ISBN : 9781349094790

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Implementing Networks in Banking and Financial Services by Dimitris N Chorafas,Heinrich Steinmann Pdf

The objective of this book is to provide banks and the financial industry at large with an analysis of what is and what is not a network at their service. The background to the book is electronic banking, and the foreground brings into perspective what has been done by forward-looking financial industries and the benefits they have achieved. While banking is today an industry, it cannot be satisfactorily compared to other industries as it operates too much by its own rules. Examples in the text have therefore been restricted to banking only and, more precisely, to the four generations of online financial networks which have evolved over the past twenty years in Japan. This book is a study addressed to the management of financial institutions. Computers and communications technologists will also gain from it both insight and foresight.