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www.iiasa.ac.at 21 winter 2017/18 ◼ options “We can show how a disaster impact will spread across the economic system, and that gives us a starting point for understanding how to strengthen and protect that system.” Sebastian Poledna entire national economy, including households, firms, and banks— the largest and most detailed model of its kind,” says Sebastian Poledna. “We can show how a disaster impact will spread across the economic system, and that gives us a starting point for understanding how to strengthen and protect that system.” Ultimately, systemic risk comes from within. External forces— in the form of bankruptcy, disease, or flood—can expose the weaknesses in a system and even lead to its collapse, but preventing them is not necessarily the solution, and may not even be possible. In the end, the only way to protect a system might be to change it. DB Further info § Poledna S & Thurner S (2016). Elimination of systemic risk in financial networks by means of a systemic risk transaction tax. Quantitative Finance: 1-15. [pure.iiasa.ac.at/12653] § Leduc MV & Thurner S (2017). Incentivizing Resilience in Financial Networks. Journal of Economic Dynamics and Control 82: 44-66. [pure.iiasa.ac.at/14630] § Yashima K & Sasaki A (2016). Spotting epidemic keystones by R0 sensitivity analysis: high-risk stations in the Tokyo Metropolitan Area. PLOS One 11: e0162406. [pure.iiasa.ac.at/13919] § Gephart JA, Rovenskaya E, Dieckmann U, Pace ML, & Brännström Å (2016). Vulnerability to shocks in the global seafood trade network. Environmental Research Letters 11: e035008. [pure.iiasa.ac.at/12165] § Hochrainer-Stigler S & Poledna S (2016). Modelling Macroeconomic Effects of Natural Disaster Risk: A Large Scale Agent Based Modelling Approach Using Copulas. In: 7th International Conference on Integrated Disaster Risk Management Disasters and Development 2016 [pure.iiasa.ac.at/13875] Stefan Thurner thurner@iiasa.ac.at Ulf Dieckmann dieckmann@iiasa.ac.at Elena Rovenskaya rovenska@iiasa.ac.at Åke Brännström brnstrom@iiasa.ac.at Stefan Hochrainer-Stigler hochrain@iiasa.ac.at Sebastian Poledna poledna@iiasa.ac.at The IIASA cross-cutting project Systemic Risk and Network Dynamics brings together the institute’s Advanced Systems Analysis, Evolution and Ecology, and Risk and Resilience Programs. “The diversity of different network systems makes the study of systemic risk valuable for a large array of applications,” says Elena Rovenskaya, Advanced Systems Analysis Program director. “It also means that expertise from a wide range of different fields is needed. This interdisciplinary project brings together researchers with different skills and backgrounds from across the institute to advance this important topic.” The project examines: § Financial systemic risk § Resilience of ecological systems § Cascading impacts from extreme hazard events § Resilience of global trade and supply chains § Global multiple breadbasket failures § Perceptions of systemic risk www.iiasa.ac.at/Projects/Systemic-Risk