@unpublished{eprints1459, note = {Session G28: Statistical Mechanics of Social Systems}, booktitle = {APS March Meeting 2013}, year = {2013}, author = {Guido Caldarelli and Stefano Battiston and Michelangelo Puliga and Rahul Kaushik and Paolo Tasca}, title = {DebtRank a centrality measure for financial systems and beyond}, abstract = {Use of network theory made possible to measure quantitatively many features of social and technological systems. In this spirit, inspired by traditional measures of centrality we introduce DebtRank a novel measure of systemic impact. We that we intend the risk of default of a large portion of the financial system, depends on the network of financial exposures among institutions. As an application, we analyse a new and unique dataset on the USD 1.2 trillion FED emergency loans program to global financial institutions during 2008--2010. We find that a group of 22 institutions, which received most of the funds, form a strongly connected graph where each of the nodes becomes systemically important at the peak of the crisis. Moreover, a systemic default could have been triggered even by small dispersed shocks. Other application to different systems are also presented.}, url = {http://eprints.imtlucca.it/1459/} }