{"id":314,"date":"2017-02-13T19:32:44","date_gmt":"2017-02-13T19:32:44","guid":{"rendered":"http:\/\/pages.charlotte.edu\/probability-seminar\/?p=314"},"modified":"2017-03-15T02:47:54","modified_gmt":"2017-03-15T02:47:54","slug":"wed-feb-15-2016-at-330pm-in-fretwell-379-math-conference-room","status":"publish","type":"post","link":"https:\/\/pages.charlotte.edu\/probability-seminar\/blog\/2017\/02\/13\/wed-feb-15-2016-at-330pm-in-fretwell-379-math-conference-room\/","title":{"rendered":"Wed Feb 15, 2017 at 3:30PM in Fretwell 379 (Math Conference Room)"},"content":{"rendered":"<div class=\"entry-content\">\n<div class=\"entry-content\">\n<p><a href=\"http:\/\/math2.uncc.edu\/%7Eimsonin\/\">Isaac Sonin<\/a>, UNC Charlotte<\/p>\n<div class=\"entry-content\">\n<div>\n<div>\n<div>\n<p><i>Title: <\/i>A Continuous-Time Model of Financial Clearing. (Banks as Tanks).<\/p>\n<div class=\"entry-content\">\n<div>\n<div>\n<div>\n<p><i>Abstract:\u00a0<\/i>We present a simple and transparent model of clearing in financial networks in continuous time, in which firms are represented by reservoirs filled with &#8220;liquid money,&#8221; flowing in and out of each firm. The model gives a simple recursive solution to a classical static model of financial clearing by Eisenberg and Noe (2001).\u00a0 The dynamic structure of our model opens the way to handle more complicated real financial networks dynamic in nature. Our approach also provides a useful tool to solve nonlinear equations involving linear system and max min operations similar to Bellman equation for the optimal stopping of Markov chains and other optimization problems.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Isaac Sonin, UNC Charlotte Title: A Continuous-Time Model of Financial Clearing. (Banks as Tanks). Abstract:\u00a0We present a simple and transparent model of clearing in financial networks in continuous time, in which firms are represented by reservoirs filled with &#8220;liquid money,&#8221; flowing in and out of each firm. The model gives a simple recursive solution to [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-314","post","type-post","status-publish","format-standard","hentry","category-probability_seminar"],"_links":{"self":[{"href":"https:\/\/pages.charlotte.edu\/probability-seminar\/wp-json\/wp\/v2\/posts\/314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pages.charlotte.edu\/probability-seminar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pages.charlotte.edu\/probability-seminar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pages.charlotte.edu\/probability-seminar\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/pages.charlotte.edu\/probability-seminar\/wp-json\/wp\/v2\/comments?post=314"}],"version-history":[{"count":2,"href":"https:\/\/pages.charlotte.edu\/probability-seminar\/wp-json\/wp\/v2\/posts\/314\/revisions"}],"predecessor-version":[{"id":324,"href":"https:\/\/pages.charlotte.edu\/probability-seminar\/wp-json\/wp\/v2\/posts\/314\/revisions\/324"}],"wp:attachment":[{"href":"https:\/\/pages.charlotte.edu\/probability-seminar\/wp-json\/wp\/v2\/media?parent=314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pages.charlotte.edu\/probability-seminar\/wp-json\/wp\/v2\/categories?post=314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pages.charlotte.edu\/probability-seminar\/wp-json\/wp\/v2\/tags?post=314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}