Dirk Baecker on Social Systems and Cybernetics

Dirk Baecker on Social Systems and Cybernetics

Key Terms

  • System Theory
  • Social System Theory
  • Dirk Baecker
  • Niklas Luhmann
  • Cybernetics
  • Socio-Cybernetics
  • Organizations
  • Management
  • Decisions
  • Networks
  • Closure
  • George Spencer Brown
  • Recursion
  • Recursive Society
  • Form of the Firm
  • Culture Theory
  • Systems
  • Network Theory
  • Network Society
  • Communication
  • Mark of Distinction
  • Laws of Form
  • Catjects
  • Autopoiesis
  • Self Referential Systems

Organizations, Management, and Decisions

Source: The Form of the Firm

Source: The Form of the Firm

Source: The Form of the Firm

Source: The Form of the Firm

Source: The Form of the Firm

Source: The Form of the Firm

Source: The Form of the Firm

Source: The Form of the Firm

Social Systems, Socio Cybernetics

Source: Observing Networks: A Note on Asymmetrical Social Forms

Source: Observing Networks: A Note on Asymmetrical Social Forms

Source: Observing Networks: A Note on Asymmetrical Social Forms

Source: Observing Networks: A Note on Asymmetrical Social Forms

Source: Observing Networks: A Note on Asymmetrical Social Forms

Source: Observing Networks: A Note on Asymmetrical Social Forms

Source: Observing Networks: A Note on Asymmetrical Social Forms

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

Source: Systems, Network, and Culture

My Related Posts

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Key Sources of Research

Systems Are Theory

Baecker, Dirk,

(May 1, 2016).

Cybernetics & Human Knowing 24, 2 (2017), 9–39, Available at SSRN: https://ssrn.com/abstract=2512647 or http://dx.doi.org/10.2139/ssrn.2512647

Why Systems?

Baecker, D. (2001).

Theory, Culture & Society, 18(1), 59–74. https://doi.org/10.1177/026327601018001005

https://www.researchgate.net/publication/228319409_Why_Systems

“7 Systems in Social Theory”

Baecker, Dirk.

In Social Theory Now edited by Claudio E. Benzecry, Monika Krause and Isaac Ariail Reed, 201-226. Chicago: University of Chicago Press, 2017. https://doi.org/10.7208/9780226475318-008

https://www.degruyter.com/document/doi/10.7208/9780226475318-008/html?lang=en#Chicago

Social Theory Now,

Benzecry, Claudio E., Krause, Monika and Reed, Isaac Ariail. 

Chicago: University of Chicago Press, 2017. https://doi.org/10.7208/9780226475318

Systems, Network, and Culture.

Baecker, Dirk. (2009).

Soziale Systeme. 15. 10.1515/sosys-2009-0204.

https://www.researchgate.net/publication/228299899_Systems_Network_and_Culture

https://www.academia.edu/24649143/Systems_Network_and_Culture

The Meaning of Culture. 

Baecker, Dirk (1997).

Thesis Eleven 51 (1):37-51.

https://philpapers.org/rec/BAETMO-2

Abstract

The article inquires into the uneasiness of sociological systems theory about culture. Culture alternatively is called the solution to the problem of double contingency (Parsons) and removed from this solution (Luhmann). It is shown that meaning is the more basic term whose description reveals a form rule of social systems which is only patterned, yet not understood by culture. Culture is a memory and control device of society. It may be conceived of as providing the distinction of correct versus incorrect behaviour. But who decides on the correctness or incorrectness of this distinction? Sociological thinking takes off where the cultural and the social are distinguished

The Interpretation of Cultures.

Geertz, Clifford,

Organisation als System. 

Wilts, A. Dirk Baecker: 

Koelner Z.Soziol.u.Soz.Psychol 53, 801 (2001). https://doi.org/10.1007/s11577-001-0126-y

https://rdcu.be/dmi81

https://link.springer.com/article/10.1007/s11577-001-0126-y

Introduction to Systems Theory / Niklas Luhmann ;

Luhmann, Niklas, Dirk. Baecker, and Peter Gilgen.

Edited by Dirk Baecker ; Translated by Peter Gilgen.

Cambridge: Polity, 2013.

https://catalog.library.vanderbilt.edu/discovery/fulldisplay/alma991002792809703276/01VAN_INST:vanui

System-autopoiesis-form: an introduction to Luhmann’s ‘Introduction to Systems Theory’ / Peter Gilgin — Editor’s preface to the German edition — I. Sociology and systems theory. The functionalism of system maintenance ; Parsons — II. General systems theory. The theory of open systems ; System as difference (formal analysis) ; Operational closure ; Self-organization, autopoiesis ; Structural coupling ; Observing ; Re-entry ; Complexity ; The idea of rationality — III. Time — IV. Meaning — V. Psychic and social systems. Problems of “action theory” ; Two modes of operation of autopoiesis — VI. Communication as a self-observing operation — VII. Double contingency, structure, conflict.

Description

Niklas Luhmann ranks as one of the most important sociologists and social theorists of the twentieth century. Through his many books he developed a highly original form of systems theory that has been hugely influential in a wide variety of disciplines. In Introduction to Systems Theory, Luhmann explains the key ideas of general and sociological systems theory and supplies a wealth of examples to illustrate his approach. The book offers a wide range of concepts and theorems that can be applied to politics and the economy, religion and science, art and education, organization and the family. Moreover, Luhmann’s ideas address important contemporary issues in such diverse fields as cognitive science, ecology, and the study of social movements. This book provides all the necessary resources for readers to work through the foundations of systems theory–no other work by Luhmann is as clear and accessible as this. There is also much here that will be of great interest to more advanced scholars and practitioners in sociology and the social sciences.

Niklas Luhmann (1927 – 1998)
por Dirk Baecker

Dirk Baecker, Universidad de Witten/Herdecke, Alemania

Fuente: http://www.isss.org/lumluhmann.htm.

https://www.infoamerica.org/teoria_articulos/luhmann01.htm

Shape of things to come: From the ‘laws of form’ to management in the post-growth economy

Organizing for the post-growth economy

https://ephemerajournal.org/contribution/shape-things-come-%25E2%2580%2598laws-form%25E2%2580%2599-management-post-growth-economy

NIKLAS LUHMANN’S THEORY OF SOCIAL SYSTEMS AND JOURNALISM RESEARCH, 

Alexander Görke & Armin Scholl (2006) 

Journalism Studies, 7:4, 644-655, DOI: 10.1080/14616700600758066

https://www.tandfonline.com/doi/abs/10.1080/14616700600758066

Lenin’s Void : Towards a Kenogrammar of Management.

Baecker, Dirk (2013).

[S.l.] : SSRN.
https://ssrn.com/abstract=2200779.

Problems of Form

by Dirk Baecker


EDITED BY DIRK BAECKER

TRANSLATED BY MICHAEL IRMSCHER, WITH LEAH EDWARDS

Stanford University Press 1999

https://www.sup.org/books/title/?id=1485

A Calculus for Autopoiesis

Baecker, Dirk,

(June 1, 2012).

in: Dirk Baecker und Birger P. Priddat (eds.), Ökonomie der Werte: Festschrift zum 65. Geburtstag von Michael Hutter, Marburg: Metropolis, 2013, 249-267, Available at SSRN: https://ssrn.com/abstract=2073362 or http://dx.doi.org/10.2139/ssrn.2073362

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2073362

A note on Ludwig von Bertalanffy and the form problem of life

Dirk Baecker
First published: 12 April 2019 https://doi.org/10.1002/sres.2597

https://onlinelibrary.wiley.com/doi/abs/10.1002/sres.2597

Complexity and Recursivity in Brain, Mind, and Culture

Dirk Baecker

Between Niklas Luhmann and Heinz von Foerster there has been a certain dispute about whether it would be better to start theoretical work based on the notion of complexity or on the notion of recursivity. An interest in complexity, for Heinz von Foerster, means that books get longer and longer, whereas an interest in recursivity could mean to help sociology to help people get out of perhaps pathological eigen-values of their behavior. That would open venues for a different kind of social therapy in conflicts, for instance. Luhmann answered that an understanding of social systems evidently consisting of recursive processes cannot do without the question of what distinctions enable those systems to reduce and enhance the complexity of their environment in the first place. The presentation proposes to switch to a mathematical understanding of complexity as the pairing of variables, which are as related as irreducible to each other (Diophantus). We are looking for a kind of a calculus that describes the co-evolution of complexity in brain, mind, and culture as the result and precondition of their recursive reproduction. And we propose to add the systems references of the mental and the social to the current interest in cognitive sciences in the systems references of the brain and the machine in order to be able to understand the recursive complexity of the cognitive phenomena we are currently dealing with.

Self-Reference and (Non-)Trivialization. The Social Impact of Cybernetic Concepts

Dirk Baecker (Friedrichshafen), Wolfgang Coy (Berlin), Jan Müggenburg (Lüneburg), 
Claus Pias 
(Lüneburg) 

Heinz von Foerster Congress

University of Vienna 2011

https://hvfoerster.univie.ac.at/congress/abstract/baecker_dirk.html

Cybernetic Research in the 1960s faced a dilemma: On the one hand there was a growing awareness that the human being shares specific organizational principles with other biological and even technological systems and that the boundaries between them had started to blur. On the other hand cyberneticians such as Heinz von Foerster and the members of his Biological Computer Laboratory worried about a future society in which automated technologies could threaten individual liberty and constrain human creativity. As von Foerster famously put it: »If we don‘t act ourselves, we shall be acted upon«. Cybernetic Concepts of ›self-organziation‹ and ›non-trivial machines‹ can thus be read as a strategy to retain the humanistic idea of an autonomous subject within cybernetic research and theory. The Panel wants to discuss the original cybernetic concepts of ›self-organization‹ and ›non-trivialization‹ and examine their impact on other theories and debates outside the cybernetic core group during the 1960s and beyond.

Observers Amongst Themselves / Beobachter unter sich

A Theory of Culture

Dirk Baecker

https://www.suhrkamp.de/rights/book/dirk-baecker-observers-amongst-themselves-fr-9783518585900

The philosophers of German Idealism – Kant, Fichte, Schelling, and Hegel – each developed concepts that may be regarded as prolegomena to a theory of the observer. These culminated, especially in the case of Fichte, in the notion of the self as empty and therefore in need of an external world.

In this world, theoretical knowledge and practical action are never in perfect alignment, which means that the very process of observation and the observer himself can only be conceived in terms of difference and complexity. This is fortunate for cultural theory, which depends precisely on placing the observer in relation not only to other observers but also that which he observes.

Drawing on George Spencer-Brown’s formal calculus, Dirk Baecker shows that this provides a solid basis for the formulation of a theory of the observer. Building upon an original re-reading of the history of philosophy and theory, Baecker argues that it is possible to understand culture as the recognition of the position of an observer from the perspective of that position’s contingency. This book is nothing less than an impressive, formal foundation for a sociological theory of culture.


Schlüsselwerke der Systemtheorie

(key Works in System Theory)

Editors
Dirk Baecker

4th ed., Springer VS, 2021,
DOI
https://doi.org/10.1007/978-3-658-33415-4

https://link.springer.com/book/10.1007/978-3-658-33415-4

https://link.springer.com/content/pdf/bfm:978-3-658-33415-4/1?pdf=chapter%20toc

The Form of the Firm.

  • Source: Organization . Jan2006, Vol. 13 Issue 1, p109-142. 34p. 
  • Author(s): Baecker, Dirk

https://www.researchgate.net/publication/228287462_The_Form_of_the_Firm

https://journals.sagepub.com/doi/10.1177/1350508406059644

Abstract: 

This paper presents a sociological and constructivist model of the organization of a firm. It presents five suggestions, and one problem, on which the theory of the firm may be based. These are history, business, culture, management, systems references and context respectively. It goes on to introduce George Spencer Brown’s notion of form as an appropriate device with which to handle the problem. Niklas Luhmann’s theory of social systems is considered to be an important step in developing a theory of differentiation that combines closure with structure, or self-referentiality with coupling, in showing how dependent communication emerges from independent contingency. The model then focuses on the idea of a contingent co-variation of the variables product, technology, organization, economy, society and individuals. It is developed with respect to five levels of re-entry: work, business, corporate culture, communication and philosophy. The idea of the paper is that models of this kind may be able to contribute to an analytical understanding of the synthesis of a firm by enabling an observer, who may be an employee, a manager, an investor, a client, a partner, an analyst or a consultant, to interact selectively with that firm and thereby take part in its reproduction and variation.

Schriften
Dirk Baecker

http://homepage.mac.com/baecker/schriften.html

Social Systems (Writing Science)

Niklas Luhmann, John Bednarz (Translator), Dirk Baecker (Translator)

Publication Date: January 1st, 1996
Publisher: Stanford University Press
ISBN: 9780804726252
Pages: 684

https://mitpressbookstore.mit.edu/book/9780804726252

The Network Synthesis of Social Action I: Towards a Sociological Theory of Next Society

Author: Baecker, Dirk
Source: Cybernetics & Human Knowing, Volume 14, Number 4, 2007, pp. 9-42(34)
Publisher: Imprint Academic

https://www.ingentaconnect.com/contentone/imp/chk/2007/00000014/00000004/art00002?crawler=true

https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=856212

The Network Synthesis of Social Action II: Understanding Catjects

Dirk Baecker

Cybernetics And Human Knowing. Vol. 15, no. 1, pp. 45-66

5 Systemic theories of communication

Dirk Baecker

Chapter 5 in Book Theories and Models of Communication

Handbooks of Communication Science Volume 1

Edited by
Paul Cobley and Peter J. Schulz

Aristotle and George Spencer-Brown

Dirk Baecker

Zeppelin University April 2012

Managing Corporations in Networks

Article in Thesis Eleven · August 2001

DOI: 10.1177/0725513601066000005

Working the Form: George Spencer-Brown and the Mark of Distinction

Dirk Baecker

Universität Witten/Herdecke

dirk.baecker@uni-wh.de

(June 14, 2015). Mousse Magazine. Supplement Settimana Basileia, June 2015, Available at SSRN: https://ssrn.com/abstract=2618146

Network Society

Dirk Baecker

In: Niels Overgaard Lehmann, Lars Qvortrup, Bo Kampmann Walter (eds.), The Concept of the Network Society: Post-Ontological Reflections. Copenhagen: Samsfundslitteratur Press, 2007, pp. 95-112

A note on Max Weber’s unfinished theory of economy and society,

Baecker, Dirk (2007) :

economic sociology_the european electronic newsletter, ISSN 1871-3351, Max Planck Institute for the Study of Societies (MPIfG), Cologne, Vol. 8, Iss. 2, pp. 27-30

The Intelligence of Ignorance in Self-Referential Systems

Dirk Baecker

in: Robert Trappl (ed.), Cybernetics and Systems ’94. Proceedings of the Twelfth European Meeting on Cybernetics and Systems Research, Vienna, Austria, 5-8 April 1994, vol. II, Singapore: World Scientific, 1994, S. 1555-1562

WHAT IS HOLDING SOCIETIES TOGETHER? ON CULTURE FORMS, WORLD MODELS, AND CONCEPTS OF TIME

Dirk Baecker
Translated by Stan Jones and Anja Welle

Criticism Winter 2011, Vol. 53, No. 1, pp. 1–22. ISSN 0011-1589. ©2011 by Wayne State University Press Detroit, Michigan 48201-1309

Foreword: A Mathematics of Form, A Sociology of Observers

Dirk Baecker

Cybernetics and Human Knowing. Vol. 20, nos. 3-4, pp. 5-8

The Joker in the Box or The Theory Form of the System 

Dirk Baecker

in: Cybernetics and Human Knowing 9 (2002), pp. 39-62

Systems Are Theory

Dirk Baecker

Cybernetics and Human Knowing. Vol. 24 (2017), no. 2, pp. 9-39

A Calculus of Negation in Communication

Dirk Baecker

Cybernetics and Human Knowing. Vol. 24 (2017), nos. 3-4, pp. 17-27

Reintroducing Communication into Cybernetics 

Dirk Baecker

Systemica, vol 11 (1997), p. 11-29

Interfaces – A View from Social Systems Theory

Dirk Baecker 

http://homepage.mac.com/baecker/

Journée d’étude avec Harrison C. White, “Social Embeddedness of Economic Transactions”, Maison Suger, Fondation Maison des Sciences de l’Homme, Paris, June 10, 1997

A Sociological Reading of George Spencer-Brown’s Laws of Form

Baecker, Dirk,

(January 4, 2021). Louis H Kauffman, Andrew Compton, Leon Conrad, Fred Cummins, Randolph Dible, Graham Ellsbury, and Florian Grote (eds.), Laws of Form – A Fiftieth Anniversary, Available at SSRN: https://ssrn.com/abstract=3678663 or http://dx.doi.org/10.2139/ssrn.3678663

Abstract

A sociological reading of George Spencer-Brown’s Laws of Form consists in reading it as a theory of the observer. The paper looks at the “cross” established by the calculus of indications as a universal operator of general, or reflective, negation, presents second-order observation as a means to introduce indeterminacy as a precondition to communication and reads Spencer-Brown’s primary arithmetic and primary algebra as steps towards an understanding of the (socio-)logical space comprehending any arrangement and re-arrangement of indications and distinctions. A short overview of the history of the notion of “form,” or “idea,” as developed by Plato, disclaimed by Kant and Hegel, and employed by Marx, Simmel, and Cassirer shows that this notion from the beginning hides, and passes on, problems of self-reference, even if disguised as transcendental subjectivity. A way to deal with these problems may be shown by Spencer-Brown’s introduction of imaginary states within equations of the second degree. Imaginary states, or values, allow time, society, nature, and technology to be introduced as references accounting for, exploring, and exploiting the indeterminacy created by them. v5 

Keywords: calculus of indications, form, nature, time, society, sociology

A Model of Social Action

Dirk Baecker

October 2006, updated July 14, 2008
A System One Research Journal Project http://journal.systemone.at/spaces/journal/members/Dirk+Baecker

Click to access Modelsocialaction.pdf

Layers, Flows, and Switches: Individuals in Next Society

Dirk Baecker

Zeppelin University Friedrichshafen, GERMANY

(January 15, 2011). Beate Geissler, Oliver Sann, Brian Holmes (eds.), Volatile Smile, Nürnberg: Verlag für moderne Kunst, 2014, 90-97,

Available at SSRN: https://ssrn.com/abstract=2200791 or http://dx.doi.org/10.2139/ssrn.2200791

the culture of cybernetics

Dirk Baecker 

• Zeppelin University, Germany

• dirk.baecker@zeppelin-university.de

The N-Closure of the Observer 

Dirk Baecker

April 2008, updated July 15, 2008
“Systemdynamik und Systemethik – Gibt es eine Verantwortung für Soziale Systeme? Tagung für Walter L. Bühl”, Universität München, April 25-26, 2008

Click to access Nclosure.pdf

The Conditions of Money’s Compliance : Georg Simmel and Sociological Systems Theory.

Baecker, Dirk (2013).

[S.l.] : SSRN.
https://ssrn.com/abstract=2285734.

Negation and Imagination in Economic Calculus* 

Dirk Baecker

Some-thing from No-thing: G. Spencer-brown’s Laws of Form.

Dirk Baecker

Abstract:

G. Spencer-Brown’s Laws of Form is summarized and the philosophical implications examined. Laws of Form is a mathematical system which deals with the emergence of anything out of the void. It traces how a single distinction in a void leads to the creation of space, where space is considered at its most primitive, without dimension. This in turn leads to two seemingly self-evident “laws”. With those laws taken as axioms, first an arithmetic is developed, then an algebra based on the arithmetic. The algebra is formally equivalent to Boolean algebra, though it satisfies all 2-valued systems. By following the implications of the algebra to its logical conclusions, self-reference emerges within the system in the guise of re-entry into the system. Spencer-Brown interprets this re-entry as creating time in much the same way in which distinction created space. Finally the paper considers the question of self-reference as seen in Francisco Varela’s Principles of Biological Autonomy, which extended Spencer-Brown’s Laws of Form to a 3-valued system.

Organization and Decision

Authors NIklas Luhmann, Dirk Baecker
Editor Dirk Baecker
Translated by Rhodes Barrett
Edition illustrated
Publisher Cambridge University Press, 2018
ISBN 1108472079, 9781108472074
Length 418 pages

Wozu Systeme?

Author Dirk Baecker

Publisher Kulturverl. Kadmos, 2002

ISBN 3931659232, 9783931659233

Length 189 pages

Observing Networks: A Note on Asymmetrical Social Forms

Dirk Baecker*

http://ssrn.com/abstract=1974810

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Systems View of Life: A Synthesis by Fritjof Capra

Systems View of Life: A Synthesis by Fritjof Capra

Fritjof Capra, Ph.D., physicist and systems theorist, is a founding director of the Center for Ecoliteracy in Berkeley. Capra is the author of several international bestsellers, including The Tao of Physics (1975), The Web of Life (1996), The Hidden Connections (2002), The Science of Leonardo (2007), and Learning from Leonardo (2013). He is coauthor, with Pier Luigi Luisi, of the multidisciplinary textbook, The Systems View of Life: A Unifying Vision (Cambridge University Press, 2014).

Over the last thirty years, a new systemic understanding of life has emerged at the forefront of science. It integrates four dimensions of life: the biological, the cognitive, the social, and the ecological dimension. At the core of this new understanding we find a fundamental change of metaphors: from seeing the world as a machine to understanding it as a network. One of the most radical philosophical implications of the systems view of life is a new conception of mind and consciousness which, for the first time, overcomes the Cartesian division between mind and matter.

From THE SYSTEMS VIEW OF LIFE

The great challenge of our time is to build and nurture sustainable communities, designed in such a way that their ways of life, businesses, economy, physical structures, and technologies respect, honour, and cooperate with Nature’s inherent ability to sustain life. The first step in this endeavour, naturally, must be to understand how Nature sustains life. It turns out that this involves a whole new conception of life. Indeed, such a new conception has emerged over the last 30 years.

In our new book, The Systems View of Life, we integrate the ideas, models, and theories underlying this new understanding of life into a single coherent framework. We call it “the systems view of life” because it involves a new kind of thinking – thinking in terms of relationships, patterns, and context – which is known as “systems thinking”, or “systemic thinking”. We offer a multidisciplinary textbook that integrates four dimensions of life: the biological, cognitive, social, and ecological dimensions; and we discuss the philosophical, social, and political implications of this unifying vision.

Taking a broad sweep through history and across scientific disciplines, beginning with the Renaissance and the Scientific Revolution, we chronicle the evolution of Cartesian mechanism from the 17th to the 20th centuries, the rise of systems thinking in the 1930s and 1940s, the revolutionary paradigm shift in 20th-century physics, and the development of complexity theory (technically known as nonlinear dynamics), which raised systems thinking to an entirely new level.

During the past 30 years, the strong interest in complex, nonlinear phenomena has generated a whole series of new and powerful theories that have dramatically increased our understanding of many key characteristics of life. Our synthesis of these theories, which takes up the central part of our book, is what we refer to as the systems view of life. In this article, we can present only a few highlights.

One of the most important insights of the systemic understanding of life is the recognition that networks are the basic pattern of organisation of all living systems. Wherever we see life, we see networks. Indeed, at the very heart of the change of paradigms from the mechanistic to the systemic view of life we find a fundamental change of metaphors: from seeing the world as a machine to understanding it as a network.

Closer examination of these living networks has shown that their key characteristic is that they are self-generating. Technically, this is known as the theory of autopoiesis, developed in the 1970s and 1980s by Humberto Maturana and Francisco Varela. Autopoiesis means “self-making”. Living networks continually create, or recreate themselves by transforming or replacing their components. In this way they undergo continual structural changes while preserving their web-like patterns of organisation. This coexistence of stability and change is indeed one of the key characteristics of life.

In our synthesis, we extend the conception of living networks from biological to social networks, which are networks of communications; and we discuss the implications of the paradigm shift from the machine to the network for two specific fields: management and health care.

One of the most rewarding features of the systems view of life is the new understanding of evolution it implies. Rather than seeing evolution as the result of only random mutations and natural selection, we are beginning to recognise the creative unfolding of life in forms of ever-increasing diversity and complexity as an inherent characteristic of all living systems. We are also realising that the roots of biological life reach deep into the non-living world, into the physics and chemistry of membrane-bounded bubbles — proto cells that were involved in a process of “prebiotic” evolution until the first living cells emerged from them.

One of the most important philosophical implications of the new systemic understanding of life is a novel conception of mind and consciousness, which finally overcomes the Cartesian division between mind and matter. Following Descartes, scientists and philosophers for more than 300 years continued to think of the mind as an intangible entity (res cogitans) and were unable to imagine how this “thinking thing” is related to the body. The decisive advance of the systems view of life has been to abandon the Cartesian view of mind as a thing, and to realise that mind and consciousness are not things but processes.

This novel concept of mind is known today as the Santiago theory of cognition, also developed by Maturana and Varela at the University of Chile in Santiago. The central insight of the Santiago theory is the identification of cognition, the process of knowing, with the process of life. Cognition is the activity involved in the self-generation and self-perpetuation of living networks. Thus life and cognition are inseparably connected. Cognition is immanent in matter at all levels of life.

The Santiago theory of cognition is the first scientific theory that overcomes the Cartesian division of mind and matter. Mind and matter no longer appear to belong to two separate categories, but can be seen as representing two complementary aspects of the phenomenon of life: process and structure. At all levels of life, mind and matter, process and structure, are inseparably connected.

Cognition, as understood in the Santiago theory, is associated with all levels of life and is thus a much broader phenomenon than consciousness. Consciousness – that is, conscious, lived experience – is a special kind of cognitive process that unfolds at certain levels of cognitive complexity that require a brain and a higher nervous system. The central characteristic of this special cognitive process is self-awareness. In our book, we review several recent systemic theories of consciousness in some detail.

Our discussion also includes the spiritual dimension of consciousness. We find that the essence of spiritual experience is fully consistent with the systems view of life. When we look at the world around us, whether within the context of science or of spiritual practice, we find that we are not thrown into chaos and randomness but are part of a great order, a grand symphony of life. We share not only life’s molecules, but also its basic principles of organisation with the rest of the living world. Indeed, we belong to the universe, and this experience of belonging makes our lives profoundly meaningful.

In the last part of our book, titled Sustaining the Web of Life, we discuss the critical importance of the systems view of life for dealing with the problems of our multi-faceted global crisis. It is now becoming more and more evident that the major problems of our time – energy, environment, climate change, poverty – cannot be understood in isolation. They are systemic problems, which means that they are all interconnected and interdependent, and require corresponding systemic solutions.

We review a variety of already existing solutions, based on systems thinking and the principles of ecodesign. These solutions would solve not only the urgent problem of climate change, but also many of our other global problems – degradation of the environment, food insecurity, poverty, unemployment, and others. Together, these solutions present compelling evidence that the systemic understanding of life has already given us the knowledge and the technologies to build a sustainable future.

 

 

Key Sources of Research:

 

1) THE SYSTEMS VIEW OF LIFE : A UNIFYING CONCEPTION OF MIND, MATTER, AND LIFE

Fritjof Capra

Cosmos and History: The Journal of Natural and Social Philosophy, vol. 11, no. 2, 2015

 

http://cosmosandhistory.org/index.php/journal/article/viewFile/503/843

 

2) THE SYSTEMS VIEW OF LIFE: A UNIFYING VISION

https://www.ecoliteracy.org/article/systems-view-life-unifying-vision

 

3) The Systems View of Life – A Unifying Vision – An interview of Fritjof Capra

http://www.resilience.org/stories/2015-05-04/the-systems-view-of-life-a-unifying-vision

 

4) Personal Website of Fritjof Capra

Home

 

5) Systems View of Life- Lecture Video 

 

6) THE SYSTEMS VIEW OF LIFE

http://www.resurgence.org/magazine/article4162-the-systems-view-of-life.html

 

7) THE SYSTEMS VIEW OF LIFE A Unifying Vision

Click to access 9781107011366_frontmatter.pdf

Multiplex Financial Networks

 

Multiplex Financial Networks

 

These are multilayer networks but not Hierarchical (multi-scale) networks.  This is one of latest research area in financial networks. Several research papers published in 2015 and current year are using multiplex networks to analyze multiple credit relationships in Interbank market.

  • Short term debt chains
  • Overnight debt chains
  • Long Term Debt chains
  • Collateral chains

 

From The multiplex structure of interbank networks

 

Network analysis has contributed to characterize, understand and model complex systems of interconnected financial institutions and markets (Gai and Kapadia, 2010; Battiston et al., 2012). These tools are gaining popu- larity also among policymakers. Most contributions focus on the interbank market1, the plumbing of modern financial systems, especially in the Euro area. In the network perspective, the interbank market is commonly rep- resented as a standard directed and weighted graph. Each link represents a credit relation between two counterparties. Directionality identifies the borrower and the lender; the weight of the link represents the loan amount. In general, the interbank market is much richer and complex than a simple weighted graph. In this paper we explore the differences in credit relations due to maturity of the contract or the presence of collateral. Due to lack of data availability, existing empirical literature either (i) disregards the hetero- geneity of credit relations or (ii) focuses only on one type, implicitly assuming that the network of the selected type of credit relations is a good proxy for the networks of other types. In the latter case, the vast majority of contributions focus on the overnight unsecured market. These two approaches are parsimo- nious but may provide biased results if the underlying “representativeness” assumptions fail.

 

From  Interbank markets and multiplex networks: centrality measures and statistical null models

 

Interlinkages between any two financial institutions is more complex than the information that can be summarized in a single number (the weight of the link) and a direction, such as in a directed and weighted network. This is due to the fact that between two institutions there exists a multiplicity of linkages, each of them related to one class of claims/obligations. The interplay between different types of relation could be relevant for systemic risk analysis. In the network jargon, such a situation is best modeled with a multiplex network or simply multiplex. A multiplex is made up with several ”layers”, each of them composed by all relations of the same type and modeled with a simple (possibly weighted and directed) network. Since the nodes in each layer are the same, the multiplex can be visualized as a stack of networks or equivalently by a network where several different types of links can coexist between two nodes, each type corresponding to a layer.

 

Key Sources of Research:

 

The multi-layer network nature of systemic risk and its implications for the costs of financial crises

Sebastian Poledna1, Jos ́e Luis Molina-Borboa4, Seraf ́ın Mart ́ınez-Jaramillo4, Marco van der Leij5,6,7, and Stefan Thurner

 

Click to access 1505.04276.pdf

 

Using multiplex networks for banking systems dynamics modelling

Valentina Y. Guleva, Maria V. Skvorcova, and Alexander V. Boukhanovsky

http://www.sciencedirect.com/science/article/pii/S1877050915033803

 

Systemic risk in multiplex networks with asymmetric coupling and threshold feedback

Rebekka Burkholz, Matt V. Leduc, Antonios Garas & Frank Schweitzer

Click to access 1506.06664.pdf

 

Networks of Networks: The Last Frontier of Complexity-A Book Review

Manuel Alberto M. Ferreira

http://ojs.excelingtech.co.uk/index.php/IJLTFES/article/viewFile/Manuel/523

 

Interconnected Networks

Editors: Garas, Antonios (Ed.)

 

Multilayer networks

Mikko Kivelä Alex Arenas Marc Barthelemy James P. Gleeson Yamir Moreno

and Mason A. Porter

 

http://comnet.oxfordjournals.org/content/2/3/203.full.pdf+html

 

Multi-layered Interbank Model for Assessing Systemic Risk

Mattia Montagna and Christoffer Kok

Click to access 1873_KWP.pdf

 

Nonlinear Dynamics on Interconnected Networks

Alex Arenas, Manlio De Domenico

http://www.sciencedirect.com/science/journal/01672789/323/supp/C

 

The multiplex dependency structure of financial markets

 

Nicol ́o Musmeci,1 Vincenzo Nicosia,2 Tomaso Aste,3, 4 Tiziana Di Matteo,1, 3 and Vito Latora

Click to access 1606.04872.pdf

 

Process Systems Engineering as a Modeling Paradigm for Analyzing Systemic Risk in Financial Networks

 

Click to access OFRwp-2015-02-11-Process-Systems-Engineering-as-a-Modeling-Paradigm.pdf

 

Financial Contagion with Collateralized Transactions: A Multiplex Network Approach
Gustavo Peralta  Ricardo Crisóstomo

July 2016

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2717411

 

The multiplex structure of interbank networks

L. Bargigli,a G. di Iasio,b L. Infante,c F. Lillo,d F. Pierobone

November 20, 2013

Click to access 1311.4798.pdf

 

Interbank markets and multiplex networks: centrality measures and statistical null models

Leonardo Bargigli, Giovanni di Iasio, Luigi Infante, Fabrizio Lillo and Federico Pierobon

Click to access 1501.05751.pdf

 

Strength of weak layers in cascading failures on multiplex networks: case of the international trade network

Kyu-Min Lee & K.-I. Goh

 

Click to access srep26346.pdf

 

 

 Cascades in multiplex financial networks with debts of different seniority

Charles D. Brummitt

Teruyoshi Kobayashi

http://journals.aps.org/pre/pdf/10.1103/PhysRevE.91.062813

 

Multiplex interbank networks and systemic importance An application to European data

In ̃aki Aldasoro† Iva ́n Alves‡

May 2015

Click to access AldasoroAlves.pdf

 

Control of Multilayer Networks

Giulia Menichetti1, Luca Dall’Asta2,3 & Ginestra Bianconi

Click to access srep20706.pdf

 

Centrality Measurement of the Mexican Large Value Payments System from the Perspective of Multiplex Networks

Bernardo Bravo-Benitez, Biliana Alexandrova-Kabadjova, Serafin Martinez-Jaramillo

Click to access 00b7d53c415e038c7d000000.pdf

 

 

Recent advances on failure and recovery in networks of networks

Louis M. Shekhtman∗, Michael M. Danziger, Shlomo Havlin

Click to access Recent%20advances%20on%20failure%20and%20recovery%20in%20networks%20of%20networks.pdf

 

Financial Stability and Interacting Networks of Financial Institutions and Market Infrastructures

Carlos León  Ron J. Berndsen   Luc Renneboog

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2532482

 

The structure and dynamics of multilayer networks

S. Boccaletti,∗, G. Bianconic, R. Criadod,, C.I. del Geniof,, J. Gómez-Gardeñes, M. Romanced, Sendiña-Nadal, Z. Wang. Zaninm,

 

Click to access 1407.0742.pdf

 

A multi-layer network of the sovereign securities market

Carlos León  Jhonatan Pérez  Luc Renneboog

Click to access be_840.pdf

 

Growing Multiplex Networks with Arbitrary Number of Layers

Babak Fotouhi1 and Naghmeh Momeni

Click to access 1506.06278.pdf

 

 

Quantitative Finance

Special Issue on Interlinkages & Systemic Risk

2015

2http://www.tandfonline.com/toc/rquf20/15/4

 

 

 

Contagion in Financial (Balance sheets) Networks

 

From Contagion Risk in Financial Networks

 

A notable feature of the modern Financial world is its high degree of interdependence. Banks and other Financial institutions are linked in a variety of ways. The mutual exposures that Financial institutions adopt towards each other connect the banking system in a network. Despite their obvious benefit, the linkages come at the cost that shocks, which initially affect only a few institutions, can propagate through the entire system. Since these linkages carry the risk of contagion, an interesting question is whether the degree of interdependence in the banking system sustains systemic stability.

From Contagion Risk in Financial Networks

Recently, there has been a substantial interest in looking for evidence of contagious failures of Financial institutions resulting from the mutual claims they have on one another. Most of these papers use balance sheet information to estimate bilateral credit relationships for different banking systems. Subsequently, the stability of the interbank market is tested by simulating the breakdown of a single bank.

 

From  Contagion in Financial Networks (PG and SK)

 

In modern financial systems, an intricate web of claims and obligations links the balance sheets of a wide variety of intermediaries, such as banks and hedge funds, into a network structure. The recent advent of sophisticated financial products, such as credit default swaps and collateralised debt obligations, has heightened the complexity of these balance sheet connections still further, making it extremely di¢ cult for policymakers to assess the potential for contagion associated with the failure of an individual financial institution or from an aggregate shock to the system as a whole.

The interdependent nature of financial balance sheets also creates an environment for feedback elements to generate amplified responses to any shock to the financial system.

 

From Contagion in Financial Networks (PG and SK)

 

The interactions between financial intermediaries following shocks make for non-linear system dynamics, and our model provides a framework for isolating the probability and spread of contagion when claims and obligations are interlinked. We find that financial systems exhibit a robust-yet-fragile tendency. While greater connectivity reduces the likelihood of widespread default, the impact on the financial system, should problems occur, could be on a significantly larger scale than hitherto. The model also highlights how a priori indistinguishable shocks can have very different consequences for the financial system. The resilience of the network to large shocks in the past is no guide to future contagion, particularly if shocks hit the network at particular pressure points associated with underlying structural vulnerabilities.

From Contagion in Financial Networks (PG and SK)

The intuition underpinning these results is straightforward. In a more connected system, the counterparty losses of a failing institution can be more widely dispersed to, and absorbed by, other entities. So increased connectivity and risk sharing may lower the probability of contagion. But conditional on the failure of one institution triggering contagious defaults, a higher number of Financial linkages also increases the potential for contagion to spread more widely. In particular, greater connectivity increases the chances that institutions which survive the effects of the initial default will be exposed to more than one defaulting counterparty after the first round of contagion, thus making them vulnerable to a second-round default. The impact of any crisis that does occur could, therefore, be larger.

 

 

Key Sources of Research:

 

Credit Chains

Kiyotaki and Moore

1997

Click to access creditchains.pdf

 

Credit Chains and Sectoral Comovement: Does the Use of Trade Credit Amplify Sectoral Shocks?

Claudio Raddatz

 

Click to access Credit_chains_20090512_Complete.pdf

 

A flow network analysis of direct balance-sheet contagion in financial networks

Mario Eboli

Click to access 1862_KWP.pdf

 

Contagion in Financial Networks

Paul Glasserman H. Peyton Young

 

October 20, 2015

Click to access Contagion%20in%20Financial%20Networks.pdf

 

Contagion in Financial Networks

Prasanna Gai and Sujit Kapadia

March 2007

 

Click to access prasanna_gai_-_contagioninfinancialnetworks.pdf

 

The Effect of the Interbank Network Structure on Contagion and Financial Stability

Co-Pierre Georg

Click to access 2011_VISemRiscosBCB_10h40_CoPierreGeorg.pdf

 

Contagion Risk in Financial Networks

Ana Babus

February 2007

Click to access s1p2-babus.pdf

 

Financial Fragility and Contagion in Interbank Networks

Stefano Pegoraro

Click to access Stefano%20Pegoraro.pdf

 

Complexity, concentration and contagion

Prasanna Gai , Andrew Haldane , Sujit Kapadia

Click to access ComplexityConcentrationContagion.JME.GaiHaldaneKapdia2011.pdf

 

Contagion in financial networks : a threat index

Gabrielle Demange∗

May 23, 2011

 

Click to access gdemange_1105.pdf

 

Liquidity and financial contagion

 

TOBIAS ADRIAN HYUN SONG SHIN

 

Click to access etud1_0208.pdf

 

Financial globalization, financial crises and contagion

$ Enrique G. Mendoza Vincenzo Quadrini

Click to access JME2010.pdf

 

The International Finance Multiplier

Paul Krugman

October 2008

 

How Likely is Contagion in Financial Networks?

Paul Glasserman,1 and H. Peyton Young

 

Click to access OFRwp0009_GlassermanYoung_HowLikelyContagionFinancialNetworks.pdf

 

Capital and Contagion in Financial Networks

S. Battiston  G. di Iasio  L. Infante F. Pierobon

Click to access 7ifcconf_infante.pdf

 

Contagion in the Interbank Network: an Epidemiological Approach

Mervi Toivanen

 

Click to access 172550.pdf

 

Complex Financial Networks and Systemic Risk: A Review

Spiros Bougheas and Alan Kirman

 

Click to access cfcm-2014-04.pdf

 

Systemic Risk, Contagion, and Financial Networks: a Survey

Matteo Chinazzi∗ Giorgio Fagiolo†

June 4, 2015

Click to access 2013-08.pdf

 

Systemic Risk and Stability in Financial Networks†

By Daron Acemoglu, Asuman Ozdaglar, and Alireza Tahbaz-Salehi

2015

http://economics.mit.edu/files/10433

 

Financial Contagion in Networks

Antonio Cabrales Douglas Gale

 

Piero Gottardi

Click to access Survey%20Oxford%20Cabrales%20Gale%20Gottardi050315-3.pdf

 

The Formation of Financial Networks

Ana Babus

Click to access formnet.pdf

 

Financial Networks and Contagion

By Matthew Elliott, Benjamin Golub, and Matthew O. Jackson

Click to access financial_networks.pdf

 

Chapter 21: Networks in Finance

Franklin Allen

Ana Babus

Click to access Allen%20and%20Babus%20-%20aug%2020-08-Long-SSRN.pdf

 

Interconnectedness: Building Bridges between Research and Policy

May 8-9, 2014

http://www.imf.org/external/np/seminars/eng/2014/interconnect/

 

Size and complexity in model financial systems

Nimalan Arinaminpathya,1, Sujit Kapadiab, and Robert M. May

 

Click to access 18338.full.pdf

 

Financial system: shock absorber or amplifier?

by Franklin Allen and Elena Carletti

Click to access work257.pdf

 

Transmission Channels of Systemic Risk and Contagion in the European Financial Network

Nikos Paltalidis†, Dimitrios Gounopoulos, Renatas Kizys, Yiannis Koutelidakis

Click to access Transmission_Channels_of_Systemic_Risk_and_Contagion_in_the_European_Financial_Network_FINAL_150215.pdf

 

Systemic risk, contagion and financial networks

https://www.ecb.europa.eu/pub/fsr/shared/pdf/sfcfinancialstabilityreview201511.en.pdf?fc503ff961868d06de9b41f054d5d986

 

Contagion in Banking Networks: The Role of Uncertainty

Stojan Davidovic
Mirta Galesic
Konstantinos Katsikopoulos Amit Kothiyal
Nimalan Arinaminpathy

 

Click to access 16-02-003.pdf

 

Financial Contagion

F Allen and D Gale

2000

Click to access contagion.pdf

 

Liquidity Risk and Contagion

Rodrigo Cifuentes Gianluigi Ferrucci

Hyun Song Shin

2004

Click to access rtf04shin.pdf

 

Information Contagion and Bank Herding

Viral V. Acharya
Tanju Yorulmazer

2006

Click to access acharya_yorulmazer.pdf

 

FINANCIAL CONNECTIONS AND SYSTEMIC RISK

Franklin Allen Ana Babus Elena Carletti

Click to access w16177.pdf

 

Credit Cycles

Nobuhiro Kiyotaki

John Moore

1997

Click to access km.pdf

 

Rethinking the financial network

Speech by Mr Andrew G Haldane,

28 April 2009.

 

Click to access r090505e.pdf

 

Liaisons dangereuses: Increasing connectivity, risk sharing, and systemic risk

Stefano Battiston Domenico Delli Gatti   Mauro Gallegati , Bruce Greenwald , Joseph E. Stiglitz

 

Click to access 1-s2.0-S0165188912000899-main.pdf

 

 

Risk and Liquidity in a System Context

Hyun Song Shin

2008

Click to access 0518-hshin_riskliquid0.pdf

 

THE SUBPRIME CREDIT CRISIS AND CONTAGION IN FINANCIAL MARKETS

Francis A. Longstaff

2010

Click to access subprime.pdf

 

Balance-Sheet Contagion

Nobuhiro Kiyotaki and John Moore

American Economic Review, 2002, vol. 92, issue 2, pages 46-50

 

Systemic Risk, Interbank Relations and Liquidity Provision by the Central Bank

 

Xavier Freixas, Bruno Parigi and Jean-Charles Rochet

 

Click to access sr047_tcm46-146825.pdf

 

Systemic risk in financial systems

Eisenberg, L., Noe, T., 2001.

 

Click to access EiseNoe01.pdf

 

Systemic Risk and the Financial System

NAS-FRBNY Conference on New Directions in Understanding Systemic Risk

 

Click to access 0518-background.pdf

 

Intermediation and Voluntary Exposure to Counterparty Risk 

Maryam Farboodi

Click to access MaryamFarboodiJMP.pdf

 

Liquidity Sharing and Financial Contagion

John Nash

September 28, 2015

Click to access Nash%20Liquidity%20Sharing.pdf

 

Pathways towards instability in financial networks

 

Marco Bardoscia,1 Stefano Battiston,2 Fabio Caccioli,3, 4 and Guido Caldarelli

Click to access 1602.05883v1.pdf

 

DebtRank: Too Central to Fail? Financial Networks, the FED and Systemic Risk

Stefano Battiston, Michelangelo Pulig, Rahul Kaushik, Paolo Tasca & Guido Caldarelli

 

Click to access srep00541.pdf

 

Risk and Global Economic Architecture: Why Full Financial Integration May Be Undesirable

By Joseph E. Stiglitz

Click to access 2010_Risk_and_Global_Economic.pdf

 

Network Valuation in Financial Systems

Paolo Barucca  Marco Bardoscia Fabio Caccioli, Marco D’Errico1, Gabriele Visentin, Stefano Battiston, and Guido Caldarelli

Click to access 1606.05164.pdf

 

The Price of Complexity in Financial Network

Stefano Battiston, Guido Caldarelli, Robert M. May

Tarik Roukny and Joseph E. Stiglitz

November, 2015

 

Default Cascades in Complex Networks: Topology and Systemic Risk

Tarik Roukny Hugues Bersini1, Hugues Pirotte Guido Caldarelli & Stefano Battiston

 

Click to access srep02759.pdf

 

Network Structure and Systemic Risk in Banking Systems

Rama Cont Amal Moussa Edson Bastos e Santos

December 1, 2010

http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.444.2698&rep=rep1&type=pdf

 

 

Systemic Risk and Network Formation in the Interbank Market

Ethan Cohen-Cole  Eleonora Patacchini Yves Zenou

January 10, 2012

Click to access Cohen_Patacchini_Zenou_22.pdf

 

A Network Analysis of the Evolution of the German Interbank Market 

Tarik Roukny† Co-Pierre Georg‡  Stefano Battiston

Click to access working_paper_461.pdf

 

DebtRank: A microscopic foundation for shock propagation

Marco Bardoscia1, Stefano Battiston, Fabio Caccioli, and Guido Caldarelli

Click to access 1504.01857.pdf

 

Balance Sheet Network Analysis of Too-Connected-to-Fail Risk in Global and Domestic Banking Systems

Jorge A. Chan-Lau

Click to access 00b7d529e09499414f000000.pdf

 

Network models and financial stability

Erlend Nier, Jing Yang, Tanju Yorulmazer and Amadeo Alentorn

April 2008

Click to access Nieretal09.pdf

 

Systemic risk in banking ecosystems

 

Andrew G. Haldane & Robert M. May

Click to access 02e7e522449ef4d3b0000000.pdf

 

Resilience to contagion in financial networks

Hamed Amini∗ Rama Cont† Andreea Minca‡

Click to access 1112.5687.pdf

 

‘Too Interconnected To Fail’ Financial Network of US CDS Market: Topological Fragility and Systemic Risk

Sheri Markose1a, Simone Giansanteb, Ali Rais Shaghaghic

 

Click to access Giansante_JEBO_2012_i.pdf

 

Taking Uncertainty Seriously: Simplicity versus Complexity in Financial Regulation

David Aikman and Mirta Galesic and Gerd Gigerenzer and Sujit Kapadia and Konstantinos Katsikopolous and Amit Kothiyal and Emma Murphy and Tobias Neumann

2014

 

Click to access MPRA_paper_59908.pdf

 

Financial Contagion in Networks

Antonio Cabrales, Douglas Gale and Piero Gottardi

http://diana-n.iue.it:8080/bitstream/handle/1814/35258/ECO_2015-01.pdf?sequence=1&isAllowed=y

 

Systemic illiquidity in the interbank network

Gerardo Ferrara, Sam Langfield, Zijun Liu and Tomohiro Ota

April 2016

Click to access swp586.pdf

 

Interconnectedness and Systemic Risk: Lessons from the Financial Crisis and Policy Implications

Remarks by
Janet L. Yellen

 

Click to access Yellen20130104a.pdf

 

SECURITISATION AND FINANCIAL STABILITY

Hyun Song Shin

Click to access securitisation.pdf

 

Crisis Transmission in the Global Banking Network

2016

 

Click to access wp1691.pdf

 

Liquidity risk, cash-flow constraints and systemic feedbacks

Sujit Kapadia, Mathias Drehmann, John Elliott and Gabriel Sterne

2012

Click to access wp456.pdf

 

Systemic Financial Feedbacks – Conceptual Framework and Modeling Implications

Dieter Gramlich and Mikhail V. Oet

 

Click to access P1364.pdf

 

Feedback Mechanisms in the Financial System: A Modern View

Mikhail V. Oet Oleg V. Pavlov

Click to access P1441.pdf