Financial stability
When does volatility become a crash?
October 21, 2019 — May 15, 2017
crisis
economics
incentive mechanisms
institutions
markets
money
risk
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Wired’s breathlessly enthusiastic coverage of (Harmon et al. 2011).
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1 Diversion
You know what is fun? Het Groote Tafereel der Dwaasheid, a 1720 Dutch book about the South Sea Bubble, the Mississippi Bubble, and … is there tulip mania in there sommewhere? I cannot remember, but the whole thing is online and the engravings are awesome.
- De Actiewereld op haar einde, 1720, Monogrammist CL, naar Pieter Jansz. Quast, 1720 - Rijksmuseum
- Quincampoix in duigen, 1720, anoniem, 1720 - Rijksmuseum
- Het Groote Tafereel der Dwaasheid [The Great Picture (or Scene) of Folly] | The South Sea Bubble, 1720 - CURIOSity Digital Collections
- Het Groote Tafereel der Dwaasheid | The South Sea Bubble, 1720 - CURIOSity Digital Collections
- The Great Mirror of Folly, Or Het Groote Tafereel Der Dwaasheid | Beinecke Rare Book & Manuscript Library
2 References
Amini, Cont, and Minca. 2013. “Resilience to Contagion in Financial Networks.” Mathematical Finance.
Battiston, Caldarelli, Georg, et al. n.d. “Complex Derivatives.” Nature Physics.
Colander, Goldberg, Haas, et al. 2009. “The Financial Crisis and the Systemic Failure of the Economics Profession.” Critical Review: A Journal of Politics and Society.
Glasserman, and Young. 2016. “Contagion in Financial Networks.” Journal of Economic Literature.
Haldane, and May. 2011. “Systemic Risk in Banking Ecosystems.” Nature.
Harmon, de Aguiar, Chinellato, et al. 2011. “Predicting Economic Market Crises Using Measures of Collective Panic.” arXiv:1102.2620 [Physics, q-Fin].
Hobart, and Huber. 2019. “Manias and Mimesis: Applying René Girard’s Mimetic Theory to Financial Bubbles.” SSRN Scholarly Paper ID 3469465.
Hockett, and Omarova. 2016. “The Finance Franchise.” SSRN Scholarly Paper ID 2820176.
MacKenzie, and Spears. 2014. “‘The Formula That Killed Wall Street’: The Gaussian Copula and Modelling Practices in Investment Banking.” Social Studies of Science.
Sornette. 2003. “Critical Market Crashes.” Physics Reports.
Sornette, and Cauwels. 2015. “Managing Risk in a Creepy World.” Journal of Risk Management in Financial Institutions.
Watts. 2016. “The Gaussian Copula and the Financial Crisis: A Recipe for Disaster or Cooking the Books?”