This dashboard allows to explore the financial exposures among institutional sectors in the Euro Area (e.g. firms(non-financial corporations(NFC)), investment funds, banks, insurance and pension funds, governments and households) across multiple financial instruments (loans, equity, bonds, insurance and pension schemes guarantees). Data source: own elaborations on ECB Data Warehouse data, see Stolbova and Battiston 2017 “The climate-finance macro-network”, working paper , Stolbova ea. 2017 A Financial Macro-Network Approach to Climate Policy Evaluation, working paper , see also Battiston ea. 2017 Climate stress-test, Nature Climate Change.
The set of financial exposures can be regarded as a macro-network, i.e. a multiplex weighted network in which types of links correspond to different financial instruments: equity holdings (ownership shares), corporate and sovereign bonds (tradable debt obligations) and loans&deposites (non-tradable debt obligations), insurance guarantees. The weight of the link represents the amount of financial exposure of a “Source” institutional sector to a “Target| institutional sector in euros.
INSTRUCTIONS AND WARNINGS: This visualization is preliminary and still in experimental phase. In order to visualize specific sets of financial links, select the institutional sectors of interest (Source), the sectors to which they are exposed (Target) and instrument type (Instrument). IMPORTANT: always keep ” * ” and ” – ” selected. Time snapshot shown here is 2015, Q4. The user can select one or more financial instruments and a threshold on the size of the financial links displayed by setting “Percentage“ filter. Note that “Percentage“ is calculated as a ratio of the financial exposure to the total asset of the Source. As an example, by choosing only the most prominent exposure (“Percentage“ starting from 5) and equity, one can see the importance of an indirect exposure of the insurance and pension funds to non-financial corporations through their significant exposure to the investment funds. It highlights the fact that although insurance and pension funds (I&PF) are not exposed to the real economy directly, their bear a significant exposure indirectly.
The SIMPOL Project is currently funded by the H2020 European grant DOLFINS (no. 640772) in the Global Systems Science area of the Future Emerging Technologies program.