{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2022:RJFK3VYRLCRIESV2JWK4IJ6HP2","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"f3c642a80c01e12b8ace0fcd9c0954c1151df69ed1eba15aaa791458db2e4d0c","cross_cats_sorted":["math.PR","q-fin.GN","q-fin.RM"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.MF","submitted_at":"2022-11-28T15:15:26Z","title_canon_sha256":"6cd7160836ff18127433b338b678e3c7fe94a40f72abd167043e2c72ddd2d02f"},"schema_version":"1.0","source":{"id":"2211.15431","kind":"arxiv","version":4}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"2211.15431","created_at":"2026-07-05T10:20:09Z"},{"alias_kind":"arxiv_version","alias_value":"2211.15431v4","created_at":"2026-07-05T10:20:09Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.2211.15431","created_at":"2026-07-05T10:20:09Z"},{"alias_kind":"pith_short_12","alias_value":"RJFK3VYRLCRI","created_at":"2026-07-05T10:20:09Z"},{"alias_kind":"pith_short_16","alias_value":"RJFK3VYRLCRIESV2","created_at":"2026-07-05T10:20:09Z"},{"alias_kind":"pith_short_8","alias_value":"RJFK3VYR","created_at":"2026-07-05T10:20:09Z"}],"graph_snapshots":[{"event_id":"sha256:ced017d2bedf5532523d4320fe1d2d2da6db3e2cf6b48a29bde4303319aa641b","target":"graph","created_at":"2026-07-05T10:20:09Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"integrity":{"available":true,"clean":true,"detectors_run":[],"endpoint":"/pith/2211.15431/integrity.json","findings":[],"snapshot_sha256":"c28c3603d3b5d939e8dc4c7e95fa8dfce3d595e45f758748cecf8e644a296938","summary":{"advisory":0,"by_detector":{},"critical":0,"informational":0}},"paper":{"abstract_excerpt":"We introduce a dynamic and stochastic interbank model with an endogenous notion of distress contagion, arising from rational worries about future defaults and ensuing losses. This entails a mark-to-market valuation adjustment for interbank claims, leading to a forward-backward approach to the equilibrium dynamics whereby future default probabilities are needed to determine today's balance sheets. Distinct from earlier models, the resulting distress contagion acts, endogenously, as a stochastic volatility term that exhibits clustering and down-market spikes. Furthermore, by incorporating multip","authors_text":"Andreas Sojmark, Zachary Feinstein","cross_cats":["math.PR","q-fin.GN","q-fin.RM"],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.MF","submitted_at":"2022-11-28T15:15:26Z","title":"Endogenous distress contagion in a dynamic interbank model: how possible future losses may spell doom today"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"2211.15431","kind":"arxiv","version":4},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:a3547d9c494995dcd2a34a5ec310e688dbe23c3150617eff4ef1bcb0080355b8","target":"record","created_at":"2026-07-05T10:20:09Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"f3c642a80c01e12b8ace0fcd9c0954c1151df69ed1eba15aaa791458db2e4d0c","cross_cats_sorted":["math.PR","q-fin.GN","q-fin.RM"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.MF","submitted_at":"2022-11-28T15:15:26Z","title_canon_sha256":"6cd7160836ff18127433b338b678e3c7fe94a40f72abd167043e2c72ddd2d02f"},"schema_version":"1.0","source":{"id":"2211.15431","kind":"arxiv","version":4}},"canonical_sha256":"8a4aadd71158a2824aba4d95c427c77e9b5828d20a0e403d2ce4488ea9040108","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"8a4aadd71158a2824aba4d95c427c77e9b5828d20a0e403d2ce4488ea9040108","first_computed_at":"2026-07-05T10:20:09.226023Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-07-05T10:20:09.226023Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"vgPbvdLUQMmEOeaonG6UWbPNh2AMrMRulCsTiiX3pOFrVPpfV6y+KTbvJ1Io/Pyo3DgVx1VPjq860951nVcmCA==","signature_status":"signed_v1","signed_at":"2026-07-05T10:20:09.226494Z","signed_message":"canonical_sha256_bytes"},"source_id":"2211.15431","source_kind":"arxiv","source_version":4}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:a3547d9c494995dcd2a34a5ec310e688dbe23c3150617eff4ef1bcb0080355b8","sha256:ced017d2bedf5532523d4320fe1d2d2da6db3e2cf6b48a29bde4303319aa641b"],"state_sha256":"5561f6d92d61916e1bebec1081d34e2f7835ac562b638bdddb0ae8f833bf9e2b"}