All Publications

ZORA Publication List

Publications

• Journal Article

  • 2026

    • Salazar, A., Edmonds, J., Battiston, S., Martinez-Jaramillo, S., & Zwerling, M. (2026). Decarbonization and non-cooperating strategies: A case for Mexico Energy and Climate Change, 7, 100242. https://doi.org/10.1016/j.egycc.2026.100242
    • Saleh, H., Battiston, S., Monasterolo, I., Barreau, T., & Tankov, P. (2026). Estimating firms’ emissions from asset level data helps revealing (mis)alignment to net zero targets. Nature Communications, 17, 3640. https://doi.org/10.1038/s41467-026-70481-5

  • 2025

    • Mandel, A., Battiston, S., & Monasterolo, I. (2025). Mapping global financial risks under climate change Nature Climate Change, 15, 329–334. https://doi.org/10.1038/s41558-025-02244-x

  • 2024

    • Monasterolo, I., Mandel, A., Battiston, S., Mazzocchetti, A., Oppermann, K., Coony, J., Stretton, S., Stewart, F., & Dunz, N. (2024). The role of green financial sector initiatives in the low-carbon transition: A theory of change Global Environmental Change, 89, 102915. https://doi.org/10.1016/j.gloenvcha.2024.102915
    • Bressan, G., Đuranović, A., Monasterolo, I., & Battiston, S. (2024). Asset-level assessment of climate physical risk matters for adaptation finance Nature Communications, 15, 5371. https://doi.org/10.1038/s41467-024-48820-1
    • Scolobig, A., Santos, M. J., Willemin, R., Kock, R., Battiston, S., Petchey, O., Rohrer, M., & Stoffel, M. (2024). Learning from COVID-19: A roadmap for integrated risk assessment and management across shocks of pandemics, biodiversity loss, and climate change Environmental Science & Policy, 155, 103726. https://doi.org/10.1016/j.envsci.2024.103726
    • Hałaj, G., Martinez-Jaramillo, S., & Battiston, S. (2024). Financial stability through the lens of complex systems Journal of Financial Stability, 71, 101228. https://doi.org/10.1016/j.jfs.2024.101228
    • Alessi, L., Battiston, S., & Kvedaras, V. (2024). Over with carbon? Investors’ reaction to the Paris Agreement and the US withdrawal Journal of Financial Stability, 71, 101232. https://doi.org/10.1016/j.jfs.2024.101232

  • 2022

    • Alessi, L., & Battiston, S. (2022). Two sides of the same coin: Green Taxonomy alignment versus transition risk in financial portfolios International Review of Financial Analysis, 84, 102319. https://doi.org/10.1016/j.irfa.2022.102319
    • Battiston, S., Bressan, G., & Monasterolo, I. (2022). Sustainable investing and climate transition risk: a portfolio rebalancing approach Journal of Portfolio Management, 48, 165–192. https://doi.org/10.3905/jpm.2022.1.394

  • 2021

    • Battiston, S., Monasterolo, I., Riahi, K., & van Ruijven, B. J. (2021). Accounting for finance is key for climate mitigation pathways Science, 372, 918–920. https://doi.org/10.1126/science.abf3877
    • Roncoroni, A., Battiston, S., D’Errico, M., Hałaj, G., & Kok, C. (2021). Interconnected banks and systemically important exposures Journal of Economic Dynamics and Control, 133, 104266. https://doi.org/10.1016/j.jedc.2021.104266
    • Bardoscia, M., Barucca, P., Battiston, S., Caccioli, F., Cimini, G., Garlaschelli, D., Saracco, F., Squartini, T., & Caldarelli, G. (2021). The Physics of Financial Networks Nature Reviews. Physics, 3, 490–507. https://doi.org/10.1038/s42254-021-00322-5
    • Battiston, S., Escobar-Farfán, L. O. L., Martinez-Jaramillo, S., & Roncoroni, A. (2021). Climate risk and financial stability in the network of banks and investment funds Journal of Financial Stability, 54, 100870. https://doi.org/10.1016/j.jfs.2021.100870
    • Battiston, S., Barucca, P., Napoletano, M., & Luu, D. T. (2021). Collateral Unchained: Rehypothecation networks, concentration and systemic effects Journal of Financial Stability, 52, 100811. https://doi.org/10.1016/j.jfs.2020.100811
    • Battiston, S., & Martinez-Jaramillo, S. (2021). Network models and stress testing for financial stability: The conference Journal of Financial Stability, 52, 100812. https://doi.org/10.1016/j.jfs.2020.100812

  • 2020

    • Perillo, C., & Battiston, S. (2020). Financialization and unconventional monetary policy: a financial-network analysis Journal of Evolutionary Economics, 30, 1385–1428. https://doi.org/10.1007/s00191-020-00698-0
    • Schuldenzucker, S., Seuken, S., & Battiston, S. (2020). Default Ambiguity: Credit Default Swaps Create New Systemic Risks in Financial Networks Management Science, 66, 1981–1998. https://doi.org/10.1287/mnsc.2019.3304
    • Barucca, P., Bardoscia, M., Caccioli, F., D’Errico, M., Visentin, G., Caldarelli, G., & Battiston, S. (2020). Network valuation in financial systems Mathematical Finance, 30, 1181–1204. https://doi.org/10.1111/mafi.12272
    • Delpini, D., Battiston, S., Caldarelli, G., & Riccaboni, M. (2020). Portfolio diversification, differentiation and the robustness of holdings networks Applied Network Science, 5, 37. https://doi.org/10.1007/s41109-020-00278-y

  • 2019

    • Battiston, S., Delpini, D., Caldarelli, G., & Riccaboni, M. (2019). Systemic risk from investment similarities PLoS ONE, 14, e0217141–e0217141. https://doi.org/10.1371/journal.pone.0217141

  • 2018

    • Monasterolo, I., Zheng, J. I., & Battiston, S. (2018). Climate Transition Risk and Development Finance: A Carbon Risk Assessment of China’s Overseas Energy Portfolios. China & World Economy, 26, 116–142. https://doi.org/10.1111/cwe.12264
    • Perillo, C., & Battiston, S. (2018). A multiplex financial network approach to policy evaluation: the case of euro area Quantitative Easing Applied Network Science, 3, 49. https://doi.org/10.1007/s41109-018-0098-8
    • Roukny, T., Battiston, S., & Stiglitz, J. E. (2018). Interconnectedness as a Source of Uncertainty in Systemic Risk Journal of Financial Stability, 35, 93–106. https://doi.org/10.1016/j.jfs.2016.12.003
    • D’Errico, M., Battiston, S., Peltonen, T., & Scheicher, M. (2018). How does risk flow in the credit default swap market? Journal of Financial Stability, 35, 53–74. https://doi.org/10.1016/j.jfs.2017.05.007
    • Battiston, S., Karpf, A., & Mandel, A. (2018). Price and network dynamics in the European carbon market Journal of Economic Behavior & Organization, 153, 103–122. https://doi.org/10.1016/j.jebo.2018.06.019
    • Battiston, S., Monasterolo, I., & Stolbova, V. (2018). A Financial Macro-Network Approach to Climate Policy Evaluation Ecological Economics, 149, 239–253. https://doi.org/10.1016/j.ecolecon.2018.03.013
    • Olsen, R., Battiston, S., Caldarelli, G., Golub, A., Nikulin, M., & Ivliev, S. (2018). Case study of Lykke exchange: architecture and outlook Journal of Risk Finance, 19, 26–38. https://doi.org/10.1108/JRF-12-2016-0168

  • 2017

    • Battiston, S., Mandel, A., Monasterolo, I., Schuetze, F., & Visentin, G. (2017). A Climate stress-test of the financial system Nature Climate Change, 7, 283–288. https://doi.org/10.1038/nclimate3255
    • Tasca, P., Deghi, A., & Battiston, S. (2017). Portfolio Diversification and Systemic Risk in Interbank Networks Journal of Economic Dynamics and Control, 82, 96–124. https://doi.org/10.1016/j.jedc.2017.01.013
    • Bardoscia, M., Battiston, S., Caccioli, F., & Caldarelli, G. (2017). Pathways towards instability in financial networks Nature Communications, 8, 14416. https://doi.org/10.1038/ncomms14416

  • 2016

    • Battiston, S., & Zeng, A. (2016). The multiplex network of EU lobby organizations PLoS ONE, 11, e0158062–e0158062. https://doi.org/10.1371/journal.pone.0158062
    • Battiston, S., Caldarelli, G., May, R. M., Roukny, T., & Stiglitz, J. E. (2016). The price of complexity in financial networks Proceedings of the National Academy of Sciences of the United States of America, 113, 10031–10036. https://doi.org/10.1073/pnas.1521573113
    • Battiston, S., Caldarelli, G., D’Errico, M., & Gurciullo, S. (2016). Leveraging the network: a stress-test framework based on DebtRank Statistics & Risk Modeling, 33, 117–138. https://doi.org/10.1515/strm-2015-0005
    • Vitali, S., Battiston, S., & Gallegati, M. (2016). Financial fragility and distress propagation in a network of regions Journal of Economic Dynamics and Control, 62, 56–75. https://doi.org/10.1016/j.jedc.2015.10.003
    • Battiston, S., D’Errico, M., & Gurciullo, S. (2016). DebtRank and the network of leverage The Journal of Alternative Investments, 18, 68–81. https://doi.org/10.3905/jai.2016.18.4.068
    • Battiston, S., & Tasca, P. (2016). Market procyclicality and systemic risk Quantitative Finance, 16, 1219–1235. https://doi.org/10.1080/14697688.2015.1123817
    • Battiston, S., Farmer, J. D., Flache, A., Garlaschelli, D., Haldane, A. G., Heesterbeek, H., Hommes, C., Jaeger, C., May, R., & Scheffer, M. (2016). Complexity theory and financial regulation Science, 351, 818–819. https://doi.org/10.1126/science.aad0299

  • 2015

    • Bardoscia, M., Battiston, S., Caccioli, F., & Caldarelli, G. (2015). DebtRank: A Microscopic Foundation for Shock Propagation PLoS ONE, 10, e0130406. https://doi.org/10.1371/journal.pone.0130406

  • 2014

    • Vitali, S., & Battiston, S. (2014). The Community Structure of the Global Corporate Network PLoS ONE, 9, e104655. https://doi.org/10.1371/journal.pone.0104655
    • Puliga, M., Caldarelli, G., & Battiston, S. (2014). Credit default swaps networks and systemic risk Scientific Reports, 4, online. https://doi.org/10.1038/srep06822

  • 2013

    • Battiston, S., Caldarelli, G., Georg, C.-P., May, R., & Stiglitz, J. (2013). Complex derivatives Nature Physics, 9, 123–125. https://doi.org/10.1038/nphys2575
    • Battiston, S., & Caldarelli, G. (2013). Systemic Risk in Financial Networks Journal of Financial Management, Markets and Institutions, 1, 129–154. https://doi.org/10.12831/75568
    • Galbiati, M., Delpini, D., & Battiston, S. (2013). The power to control Nature Physics, 9, 126–128. https://doi.org/10.1038/nphys2581
    • Musmeci, N., Battiston, S., Puliga, M., & Gabrielli, A. (2013). Bootstrapping topology and systemic risk of complex network using the fitness model Journal of Statistical Physics, 151, 720–734. https://doi.org/10.1007/s10955-013-0720-1
    • Delpini, D., Battiston, S., Riccaboni, M., Gabbi, G., Pammolli, F., & Caldarelli, G. (2013). Evolution of controllability in interbank networks Scientific Reports, 3, online. https://doi.org/10.1038/srep01626
    • Roukny, T., Bersini, H., Pirotte, H., Caldarelli, G., & Battiston, S. (2013). Default cascades in complex networks: topology and systemic risk Scientific Reports, 3, online. https://doi.org/10.1038/srep02759
    • Kaushik, R., & Battiston, S. (2013). Credit default swaps drawup networks: Too interconnected to be stable? PLoS ONE, 8, e61815. https://doi.org/10.1371/journal.pone.0061815

  • 2012

    • Battiston, S., Bordino, I., Caldarelli, G., Cristelli, M., Ukkonen, A., & Weber, I. (2012). Web Search Queries Can Predict Stock Market Volumes PLoS ONE, 7, e40014. https://doi.org/10.1371/journal.pone.0040014
    • Battiston, S., Delli Gatti, D., Gallegati, M., Greenwald, B., & Stiglitz, J. E. (2012). Credit Default Cascades: When Does Risk Diversification Increase Stability? Journal of Financial Stability, 8, 138–149. https://doi.org/10.1016/j.jfs.2012.01.002

Pagination