Management of systemic risk in financial markets is traditionally associated with setting (higher) capital requirements for market participants. There are indications that while equity ratios have been increased massively since the financial crisis, systemic risk levels might not have lowered,...

We propose a simple model where the innovation rate of a technological domain depends on the innovation rate of the technological domains it relies on. Using data on US patents from 1836 to 2017, we make out-of-sample predictions and fond that the predictability of innovation rates can be...

Natural and anthropogenic disasters frequently affect both the supply and demand side of an economy. A striking recent example is the COVID-19 pandemic which has created severe industry-specific disruptions to economic output in most countries. Since firms are embedded in production networks,...

Economic shocks due to COVID-19 were exceptional in their severity, suddenness and heterogeneity across industries. To study the upstream and downstream propagation of these industry-specific demand and supply shocks, we build a dynamic input-output model inspired by previous work on the...