“…Moreover, extensions of this model have been developed to include effects such as fire sales (e.g. Cifuentes et al (2005), Nier et al (2007), Gai and Kapadia (2010), Chen et al (2016), Amini et al (2016a,b), Weber and Weske (2017), Feinstein (2017a), Feinstein and El-Masri (2017), Feinstein (2017b), Di Gangi et al (2015)), cross-ownership (e.g. Elsinger (2009), Elliott et al (2014), Weber and Weske (2017)), bankruptcy costs (e.g.…”