@article{
 title = {Collateral Unchained: Rehypotecation networks, complexity and systemic effects},
 type = {article},
 year = {2016},
 id = {0e9fcd08-fe44-3c61-93b0-9443d96833a4},
 created = {2016-10-31T11:02:58.000Z},
 file_attached = {false},
 profile_id = {8856f0a8-e934-3b54-83b3-1dc0f138e432},
 group_id = {bd0f1172-1660-3fe3-b7d0-9f2d0b4051ad},
 last_modified = {2017-03-14T12:29:36.496Z},
 tags = {DOLFINS_T1.1,DOLFINS_WP1},
 read = {false},
 starred = {false},
 authored = {false},
 confirmed = {true},
 hidden = {false},
 citation_key = {Napoletano2016},
 abstract = {We investigate how the structure of secured interbank lending network affects market liquidity and market stability in presence of re-hypothecation. We build a model where banks can re-use the collateral ontained in reverse repos in order to obtain additional funding. We show that, in general, dense network structures display a trade-off between higher liquidity and higher robustness against idiosyncratic liquidity shocks and liquidity hoarding cascades.},
 bibtype = {article},
 author = {Napoletano, Mauro and Battiston, Stefano and Barucca, Paolo},
 journal = {paper-progress}
}

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