88 citations · 106 across the 2 of their papers we have counts for
2 papers
q-fin.GN2015★ 88 cited
Cascades in multiplex financial networks with debts of different seniority
Charles D. Brummitt, Teruyoshi Kobayashi
The seniority of debt, which determines the order in which a bankrupt institution repays its debts, is an important and sometimes contentious feature of financial crises, yet its i…
q-fin.PR2014★ 18 cited
Inside Money, Procyclical Leverage, and Banking Catastrophes
Charles D. Brummitt, Rajiv Sethi, Duncan J. Watts
We explore a model of the interaction between banks and outside investors in which the ability of banks to issue inside money (short-term liabilities believed to be convertible int…