标题： 清除算法和网络中心性 显示英文标题

标题： Clearing algorithms and network centrality

摘要： 我证明了在金融系统传染分析中常用的典型清算模型的解，在对应于系统性冲击的条件下，可以表示为广义Katz中心性度量的一种特定形式。 这一结果为早期实证结果提供了正式的解释，这些结果表明Katz类型的中心性度量与传染性密切相关。 它还允许评估在使用此类中心性度量作为系统性风险指标时所做出的假设。 我得出结论，这些假设应被视为过于强烈，并且从理论角度来看，在系统性风险分析中应优先使用清算模型而不是中心性度量。 显示英文摘要

摘要： I show that the solution of a standard clearing model commonly used in contagion analyses for financial systems can be expressed as a specific form of a generalized Katz centrality measure under conditions that correspond to a system-wide shock. This result provides a formal explanation for earlier empirical results which showed that Katz-type centrality measures are closely related to contagiousness. It also allows assessing the assumptions that one is making when using such centrality measures as systemic risk indicators. I conclude that these assumptions should be considered too strong and that, from a theoretical perspective, clearing models should be given preference over centrality measures in systemic risk analyses.