The risk of contagion spreading and its optimal control in the economy
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10773/26063 |
Resumo: | The global crisis of 2008 provoked a heightened interest among scientists to study the phenomenon, its propagation and negative consequences. The process of modelling the spread of a virus is commonly used in epidemiology. Conceptually, the spread of a disease among a population is similar to the contagion process in economy. This similarity allows considering the contagion in the world financial system using the same mathematical model of infection spread that is often used in epidemiology. Our research focuses on the dynamic behaviour of contagion spreading in the global financial network. The effect of infection by a systemic spread of risks in the network of national banking systems of countries is tested. An optimal control problem is then formulated to simulate a control that may avoid significant financial losses. The results show that the proposed approach describes well the reality of the world economy, and emphasizes the importance of international relations between countries on the financial stability. |
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The risk of contagion spreading and its optimal control in the economyContagionFinancial VirusInfection SpreadingEpidemiological ModelNetworkOptimal ControlThe global crisis of 2008 provoked a heightened interest among scientists to study the phenomenon, its propagation and negative consequences. The process of modelling the spread of a virus is commonly used in epidemiology. Conceptually, the spread of a disease among a population is similar to the contagion process in economy. This similarity allows considering the contagion in the world financial system using the same mathematical model of infection spread that is often used in epidemiology. Our research focuses on the dynamic behaviour of contagion spreading in the global financial network. The effect of infection by a systemic spread of risks in the network of national banking systems of countries is tested. An optimal control problem is then formulated to simulate a control that may avoid significant financial losses. The results show that the proposed approach describes well the reality of the world economy, and emphasizes the importance of international relations between countries on the financial stability.International Academic Press2019-05-17T16:11:59Z2019-06-01T00:00:00Z2019-06info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10773/26063eng2310-5070Kostylenko, OlenaRodrigues, Helena SofiaTorres, Delfim F. M.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-02-22T11:50:26Zoai:ria.ua.pt:10773/26063Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T02:59:08.191010Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The risk of contagion spreading and its optimal control in the economy |
title |
The risk of contagion spreading and its optimal control in the economy |
spellingShingle |
The risk of contagion spreading and its optimal control in the economy Kostylenko, Olena Contagion Financial Virus Infection Spreading Epidemiological Model Network Optimal Control |
title_short |
The risk of contagion spreading and its optimal control in the economy |
title_full |
The risk of contagion spreading and its optimal control in the economy |
title_fullStr |
The risk of contagion spreading and its optimal control in the economy |
title_full_unstemmed |
The risk of contagion spreading and its optimal control in the economy |
title_sort |
The risk of contagion spreading and its optimal control in the economy |
author |
Kostylenko, Olena |
author_facet |
Kostylenko, Olena Rodrigues, Helena Sofia Torres, Delfim F. M. |
author_role |
author |
author2 |
Rodrigues, Helena Sofia Torres, Delfim F. M. |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Kostylenko, Olena Rodrigues, Helena Sofia Torres, Delfim F. M. |
dc.subject.por.fl_str_mv |
Contagion Financial Virus Infection Spreading Epidemiological Model Network Optimal Control |
topic |
Contagion Financial Virus Infection Spreading Epidemiological Model Network Optimal Control |
description |
The global crisis of 2008 provoked a heightened interest among scientists to study the phenomenon, its propagation and negative consequences. The process of modelling the spread of a virus is commonly used in epidemiology. Conceptually, the spread of a disease among a population is similar to the contagion process in economy. This similarity allows considering the contagion in the world financial system using the same mathematical model of infection spread that is often used in epidemiology. Our research focuses on the dynamic behaviour of contagion spreading in the global financial network. The effect of infection by a systemic spread of risks in the network of national banking systems of countries is tested. An optimal control problem is then formulated to simulate a control that may avoid significant financial losses. The results show that the proposed approach describes well the reality of the world economy, and emphasizes the importance of international relations between countries on the financial stability. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-05-17T16:11:59Z 2019-06-01T00:00:00Z 2019-06 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10773/26063 |
url |
http://hdl.handle.net/10773/26063 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
2310-5070 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
International Academic Press |
publisher.none.fl_str_mv |
International Academic Press |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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