Please use this identifier to cite or link to this item: http://hdl.handle.net/10773/26063
Title: The risk of contagion spreading and its optimal control in the economy
Author: Kostylenko, Olena
Rodrigues, Helena Sofia
Torres, Delfim F. M.
Keywords: Contagion
Financial Virus
Infection Spreading
Epidemiological Model
Network
Optimal Control
Issue Date: Jun-2019
Publisher: International Academic Press
Abstract: 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.
Peer review: yes
URI: http://hdl.handle.net/10773/26063
ISSN: 2310-5070
Appears in Collections:CIDMA - Artigos
SCG - Artigos

Files in This Item:
File Description SizeFormat 
2019_SOIC_FINAL_the risk_contagion_Olena_Delfim.pdf1.8 MBAdobe PDFView/Open


FacebookTwitterDeliciousLinkedInDiggGoogle BookmarksMySpace
Formato BibTex MendeleyEndnote Degois 

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.