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Financial fragility by network analysis and behavioral approach

Abstract : This thesis studies financial fragility, i.e. the sensitivity of the financial system with respect to shocks. the main issue of financial fragility in the current context is the increased financial complexity. To address this problem, this study draws inspiration from two relatively recent streams of literature : econopmics of networks and behavioral economics. The main concepts in use are diffusion, cascade and bounded rationality. Chapter 1 studies how petterns of links, specifically, the length of transitive cycles affect the extent of financial contagion. Chapter 2 proposes a dynamic model in which bank runs arise as cascades of withdrawals. The aim is to better understand how bank runs occur. Chapter 3 studies bank runs in a dynamic and behavioral setting, with herding and heterogeneity of depositors.
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Hieu Tran. Financial fragility by network analysis and behavioral approach. Economics and Finance. Université de Bordeaux, 2018. English. ⟨NNT : 2018BORD0445⟩. ⟨tel-02329465v2⟩

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