Big Data and central banks

Bholat, David

doi:10.1177/2053951715579469

Cited by 37 publications

(24 citation statements)

References 11 publications

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“…We empirically evaluate the new approach using large regulatory databases, maintained by the Prudential Regulatory Authority (PRA) of the Bank of England, that include verified capital requirements for UK-incorporated deposit takers and investment firms and granular information on their bilateral exposures due to transactions in the fixed-income market, securities-financing market and derivatives market. These data are exemplary of the 'Big Data' now available to the Bank of England (Bholat 2013(Bholat , 2015(Bholat , 2016. The empirical simulations of the designed multichannel stabilisation strategies confirm their capability for containing contagion.…”

Section: Introductionmentioning

confidence: 78%

Multichannel contagion and systemic stabilisation strategies in interconnected financial markets

Sergueiva

Chinthalapati

Verousis

et al. 2017

Quantitative Finance

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To date, existing studies that use multilayer networks, in their multiplex form, to analyse the structure of financial systems, have (i) considered the structure as a non-interconnected multiplex network, (ii) no mechanism of multichannel contagion has been modelled and empirically evaluated and (iii) no multichannel stabilisation strategies for pre-emptive contagion containment have been designed. This paper formulates an interconnected multiplex structure, and a contagion mechanism among financial institutions due to bilateral exposures arising from institutions' activity within different interconnected markets that compose the overall financial market. We design minimum-cost stabilisation strategies that act simultaneously on different markets and their interconnections, in order to effectively contain potential contagion progressing through the overall structure. The empirical simulations confirm their capability for containing contagion. The potential for multichannel contagion through the multiplex contributes more to systemic fragility than single-channel contagion, however, multichannel stabilisation also contributes more to systemic resilience than single-channel stabilisation.

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Section: Introductionmentioning

confidence: 78%

Multichannel contagion and systemic stabilisation strategies in interconnected financial markets

Sergueiva

Chinthalapati

Verousis

et al. 2017

Quantitative Finance

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“…Companies that were born in the internet era, such as Google, Facebook and eBay were built around big data (Davenport and Dyché 2013), thus these companies possess the capabilities to manage and make use of it. With technological advancements and the commercialisation of the internet, companies that existed before the internet era (deemed traditional businesses) are also looking into opportunities to develop their businesses by effectively using big data (Bholat 2015, Chawla and Davis 2013, Davenport and Dyché 2013, Dhawan et al 2014). …”

Section: Figure 1: Use Of Methodological Lens For the Development Of mentioning

confidence: 99%

Development of a Theoretical Framework to Investigate Alignment of Big Data in Healthcare through a Social Representation Lens

Weerasinghe

Pauleen

Scahill

et al. 2018

AJIS

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The aim of this paper is to develop a theoretical framework grounded in the literature, which can be used to explore the influence of big data on business-IT alignment in the healthcare context. Increasingly the availability of information systems in healthcare delivery and service management results in massive amounts of complex data that have the 3V characteristics of big data (i.e. volume, variety, velocity). Use of big-healthcare-data has been identified as bringing significant benefits to the healthcare sector from improved decision making through to population health analysis. Although the technical dynamics around big data such as analytics and infrastructure requirements are extensively researched, less attention has been given to social dynamics such as peoples' experience, understanding and perceived usefulness of this data. To address this gap, the paper uses social representation theory as a methodological lens to develop a theoretical framework to study the social dynamics around big data and its use in the healthcare context. The selected case for this development is the New Zealand healthcare sector and an approach using multi-level macro, meso, and micro analysis is taken. Use of social representation theory as a methodological lens to develop a theoretical framework is a novel approach. Such a theoretical framework will be useful as a foundation for carrying out on-going empirical research on big data to understand its influence on business-IT alignment in the healthcare context.

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“…For example, Cheng Gao and Bruce Mizrach analyze 30 million stock quotes over a 20-year period from 1993 to 2013 (Gao and Mizrach 2016), an amount that would be dwarfed by the data generated today. Central banks and financial regulators, who relied on summary statements of financial positions in the past, are now beginning to analyze the characteristics of individual financial transactions and loans, requesting more granular data from market participants (Bholat 2015; Fitzgerald 2016).…”

Section: Future Of Big Data In Economic Historymentioning

confidence: 99%

“Big Data” in Economic History

Gutmann¹,

Merchant²,

Roberts³

2018

J. Econ. Hist.

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Big data is an exciting prospect for the field of economic history, which has long depended on the acquisition, keying, and cleaning of scarce numerical information about the past. This article examines two areas in which economic historians are already using big data - population and environment - discussing ways in which increased frequency of observation, denser samples, and smaller geographic units allow us to analyze the past with greater precision and often to track individuals, places, and phenomena across time. We also explore promising new sources of big data: organically created economic data, high resolution images, and textual corpora.

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Big Data and central banks

Cited by 37 publications

References 11 publications

Multichannel contagion and systemic stabilisation strategies in interconnected financial markets

Multichannel contagion and systemic stabilisation strategies in interconnected financial markets

Development of a Theoretical Framework to Investigate Alignment of Big Data in Healthcare through a Social Representation Lens

“Big Data” in Economic History

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