<> <http://www.w3.org/2000/01/rdf-schema#comment> "The repository administrator has not yet configured an RDF license."^^<http://www.w3.org/2001/XMLSchema#string> .
<> <http://xmlns.com/foaf/0.1/primaryTopic> <https://discovery.ucl.ac.uk/id/eprint/10186749> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://purl.org/ontology/bibo/Article> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/dc/terms/title> "Diversification and Financial Stability"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/ontology/bibo/abstract> "The recent credit crisis of 2007/08 has raised a debate about the so-called knife-edge properties of financial markets. The paper contributes to the debate shedding light on the controversial relation between risk-diversification and financial stability. We model a financial network where assets held by borrowers to meet their obligations, include claims against other borrowers and securities exogenous to the network. The balance-sheet approach is conjugated with a stochastic setting and by a mean-field approximation the law of motion of the system's fragility is derived. We show that diversification has an ambiguous effect and beyond a certain levels elicits financial instability. Moreover, we find that risk-sharing restrictions create a socially preferable outcome. Our findings have significant implications for future policy recommendation."^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/dc/terms/date> "2014-02-17" .
<https://discovery.ucl.ac.uk/id/document/1708401> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://purl.org/ontology/bibo/Document> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/ontology/bibo/issue> "10" .
<https://discovery.ucl.ac.uk/id/org/ext-2393b17993e8f81b8efe28f5805b9cd4> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://xmlns.com/foaf/0.1/Organization> .
<https://discovery.ucl.ac.uk/id/org/ext-2393b17993e8f81b8efe28f5805b9cd4> <http://xmlns.com/foaf/0.1/name> "Systemic Risk Centre, London School of Economics and Political Science"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/dc/terms/publisher> <https://discovery.ucl.ac.uk/id/org/ext-2393b17993e8f81b8efe28f5805b9cd4> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/ontology/bibo/status> <http://purl.org/ontology/bibo/status/published> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/dc/terms/creator> <https://discovery.ucl.ac.uk/id/person/ext-a58f0b49dee51ff29dabafe92c66156c> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/ontology/bibo/authorList> <https://discovery.ucl.ac.uk/id/eprint/10186749#authors> .
<https://discovery.ucl.ac.uk/id/eprint/10186749#authors> <http://www.w3.org/1999/02/22-rdf-syntax-ns#_1> <https://discovery.ucl.ac.uk/id/person/ext-a58f0b49dee51ff29dabafe92c66156c> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/dc/terms/creator> <https://discovery.ucl.ac.uk/id/person/ext-87207a1b10b86909304759b236baff12> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/ontology/bibo/authorList> <https://discovery.ucl.ac.uk/id/eprint/10186749#authors> .
<https://discovery.ucl.ac.uk/id/eprint/10186749#authors> <http://www.w3.org/1999/02/22-rdf-syntax-ns#_2> <https://discovery.ucl.ac.uk/id/person/ext-87207a1b10b86909304759b236baff12> .
<https://discovery.ucl.ac.uk/id/person/ext-a58f0b49dee51ff29dabafe92c66156c> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://xmlns.com/foaf/0.1/Person> .
<https://discovery.ucl.ac.uk/id/person/ext-a58f0b49dee51ff29dabafe92c66156c> <http://xmlns.com/foaf/0.1/givenName> "Paolo"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/person/ext-a58f0b49dee51ff29dabafe92c66156c> <http://xmlns.com/foaf/0.1/familyName> "Tasca"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/person/ext-a58f0b49dee51ff29dabafe92c66156c> <http://xmlns.com/foaf/0.1/name> "Paolo Tasca"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/person/ext-87207a1b10b86909304759b236baff12> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://xmlns.com/foaf/0.1/Person> .
<https://discovery.ucl.ac.uk/id/person/ext-87207a1b10b86909304759b236baff12> <http://xmlns.com/foaf/0.1/givenName> "Stefano"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/person/ext-87207a1b10b86909304759b236baff12> <http://xmlns.com/foaf/0.1/familyName> "Battiston"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/person/ext-87207a1b10b86909304759b236baff12> <http://xmlns.com/foaf/0.1/name> "Stefano Battiston"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://eprints.org/ontology/EPrint> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://eprints.org/ontology/WorkingPaperEPrint> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/dc/terms/isPartOf> <https://discovery.ucl.ac.uk/id/repository> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://eprints.org/ontology/hasDocument> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708401> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://eprints.org/ontology/Document> .
<https://discovery.ucl.ac.uk/id/document/1708401> <http://www.w3.org/2000/01/rdf-schema#label> "Diversification and Financial Stability (Text)"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://purl.org/dc/elements/1.1/hasVersion> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://eprints.org/ontology/hasPublished> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708401> <http://eprints.org/ontology/hasFile> <https://discovery.ucl.ac.uk/id/eprint/10186749/1/Tasca_lse.ac.uk_storage_LIBRARY_Secondary_libfile_shared_repository_Content_System%20Risk%20Center_Discussion%20Papers_dp-10.pdf> .
<https://discovery.ucl.ac.uk/id/document/1708401> <http://purl.org/dc/terms/hasPart> <https://discovery.ucl.ac.uk/id/eprint/10186749/1/Tasca_lse.ac.uk_storage_LIBRARY_Secondary_libfile_shared_repository_Content_System%20Risk%20Center_Discussion%20Papers_dp-10.pdf> .
<https://discovery.ucl.ac.uk/id/eprint/10186749/1/Tasca_lse.ac.uk_storage_LIBRARY_Secondary_libfile_shared_repository_Content_System%20Risk%20Center_Discussion%20Papers_dp-10.pdf> <http://www.w3.org/2000/01/rdf-schema#label> "Tasca_lse.ac.uk_storage_LIBRARY_Secondary_libfile_shared_repository_Content_System Risk Center_Discussion Papers_dp-10.pdf"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://eprints.org/ontology/hasDocument> <https://discovery.ucl.ac.uk/id/document/1708402> .
<https://discovery.ucl.ac.uk/id/document/1708402> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://eprints.org/ontology/Document> .
<https://discovery.ucl.ac.uk/id/document/1708402> <http://www.w3.org/2000/01/rdf-schema#label> "Diversification and Financial Stability (Other)"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/document/1708402> <http://eprints.org/relation/isVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708402> <http://eprints.org/relation/isVolatileVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708402> <http://eprints.org/relation/isIndexCodesVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708402> <http://eprints.org/ontology/hasFile> <https://discovery.ucl.ac.uk/id/eprint/10186749/2/indexcodes.txt> .
<https://discovery.ucl.ac.uk/id/document/1708402> <http://purl.org/dc/terms/hasPart> <https://discovery.ucl.ac.uk/id/eprint/10186749/2/indexcodes.txt> .
<https://discovery.ucl.ac.uk/id/eprint/10186749/2/indexcodes.txt> <http://www.w3.org/2000/01/rdf-schema#label> "indexcodes.txt"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://eprints.org/ontology/hasDocument> <https://discovery.ucl.ac.uk/id/document/1708403> .
<https://discovery.ucl.ac.uk/id/document/1708403> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://eprints.org/ontology/Document> .
<https://discovery.ucl.ac.uk/id/document/1708403> <http://www.w3.org/2000/01/rdf-schema#label> "Diversification and Financial Stability (Other)"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/document/1708403> <http://eprints.org/relation/isVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708403> <http://eprints.org/relation/isVolatileVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708403> <http://eprints.org/relation/islightboxThumbnailVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708403> <http://eprints.org/ontology/hasFile> <https://discovery.ucl.ac.uk/id/eprint/10186749/3/lightbox.jpg> .
<https://discovery.ucl.ac.uk/id/document/1708403> <http://purl.org/dc/terms/hasPart> <https://discovery.ucl.ac.uk/id/eprint/10186749/3/lightbox.jpg> .
<https://discovery.ucl.ac.uk/id/eprint/10186749/3/lightbox.jpg> <http://www.w3.org/2000/01/rdf-schema#label> "lightbox.jpg"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://eprints.org/ontology/hasDocument> <https://discovery.ucl.ac.uk/id/document/1708404> .
<https://discovery.ucl.ac.uk/id/document/1708404> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://eprints.org/ontology/Document> .
<https://discovery.ucl.ac.uk/id/document/1708404> <http://www.w3.org/2000/01/rdf-schema#label> "Diversification and Financial Stability (Other)"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/document/1708404> <http://eprints.org/relation/isVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708404> <http://eprints.org/relation/isVolatileVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708404> <http://eprints.org/relation/ispreviewThumbnailVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708404> <http://eprints.org/ontology/hasFile> <https://discovery.ucl.ac.uk/id/eprint/10186749/4/preview.jpg> .
<https://discovery.ucl.ac.uk/id/document/1708404> <http://purl.org/dc/terms/hasPart> <https://discovery.ucl.ac.uk/id/eprint/10186749/4/preview.jpg> .
<https://discovery.ucl.ac.uk/id/eprint/10186749/4/preview.jpg> <http://www.w3.org/2000/01/rdf-schema#label> "preview.jpg"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://eprints.org/ontology/hasDocument> <https://discovery.ucl.ac.uk/id/document/1708405> .
<https://discovery.ucl.ac.uk/id/document/1708405> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://eprints.org/ontology/Document> .
<https://discovery.ucl.ac.uk/id/document/1708405> <http://www.w3.org/2000/01/rdf-schema#label> "Diversification and Financial Stability (Other)"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/document/1708405> <http://eprints.org/relation/isVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708405> <http://eprints.org/relation/isVolatileVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708405> <http://eprints.org/relation/ismediumThumbnailVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708405> <http://eprints.org/ontology/hasFile> <https://discovery.ucl.ac.uk/id/eprint/10186749/5/medium.jpg> .
<https://discovery.ucl.ac.uk/id/document/1708405> <http://purl.org/dc/terms/hasPart> <https://discovery.ucl.ac.uk/id/eprint/10186749/5/medium.jpg> .
<https://discovery.ucl.ac.uk/id/eprint/10186749/5/medium.jpg> <http://www.w3.org/2000/01/rdf-schema#label> "medium.jpg"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://eprints.org/ontology/hasDocument> <https://discovery.ucl.ac.uk/id/document/1708406> .
<https://discovery.ucl.ac.uk/id/document/1708406> <http://www.w3.org/1999/02/22-rdf-syntax-ns#type> <http://eprints.org/ontology/Document> .
<https://discovery.ucl.ac.uk/id/document/1708406> <http://www.w3.org/2000/01/rdf-schema#label> "Diversification and Financial Stability (Other)"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/document/1708406> <http://eprints.org/relation/isVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708406> <http://eprints.org/relation/isVolatileVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708406> <http://eprints.org/relation/issmallThumbnailVersionOf> <https://discovery.ucl.ac.uk/id/document/1708401> .
<https://discovery.ucl.ac.uk/id/document/1708406> <http://eprints.org/ontology/hasFile> <https://discovery.ucl.ac.uk/id/eprint/10186749/6/small.jpg> .
<https://discovery.ucl.ac.uk/id/document/1708406> <http://purl.org/dc/terms/hasPart> <https://discovery.ucl.ac.uk/id/eprint/10186749/6/small.jpg> .
<https://discovery.ucl.ac.uk/id/eprint/10186749/6/small.jpg> <http://www.w3.org/2000/01/rdf-schema#label> "small.jpg"^^<http://www.w3.org/2001/XMLSchema#string> .
<https://discovery.ucl.ac.uk/id/eprint/10186749> <http://www.w3.org/2000/01/rdf-schema#seeAlso> <https://discovery.ucl.ac.uk/id/eprint/10186749/> .
<https://discovery.ucl.ac.uk/id/eprint/10186749/> <http://purl.org/dc/elements/1.1/title> "HTML Summary of #10186749 \n\nDiversification and Financial Stability\n\n" .
<https://discovery.ucl.ac.uk/id/eprint/10186749/> <http://purl.org/dc/elements/1.1/format> "text/html" .
<https://discovery.ucl.ac.uk/id/eprint/10186749/> <http://xmlns.com/foaf/0.1/primaryTopic> <https://discovery.ucl.ac.uk/id/eprint/10186749> .