Financial network risk

risk-davidrowe-gif

Systemic risk is all the rage these days, exemplified by the widespread call for macro-prudential supervision. It is tempting to feel that, like the weather, everybody talks about systemic risk but nobody does anything about it. That situation may now be changing. Discussion is growing around the need for financial theory and analysis to absorb lessons from other disciplines concerning the behaviour of complex adaptive dynamic systems. These other disciplines include epidemiology, aircraft sa