{"bundle_type":"pith_open_graph_bundle","bundle_version":"1.0","pith_number":"pith:2017:Y7F74YUIUGNA5JYTUI4I6DFUFF","short_pith_number":"pith:Y7F74YUI","canonical_record":{"source":{"id":"1702.07936","kind":"arxiv","version":4},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.RM","submitted_at":"2017-02-25T18:59:15Z","cross_cats_sorted":[],"title_canon_sha256":"78b2a7d1938b6a8812ab1ef2da9d6151cdcca8c153064b00f8f887fadc780917","abstract_canon_sha256":"ba32dd7b95456e520156380749ab5f18ae463a75777191d714ced30e6c85b706"},"schema_version":"1.0"},"canonical_sha256":"c7cbfe6288a19a0ea713a2388f0cb42962efb34462b0c992a1921e2d0bd4007a","source":{"kind":"arxiv","id":"1702.07936","version":4},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1702.07936","created_at":"2026-05-17T23:45:21Z"},{"alias_kind":"arxiv_version","alias_value":"1702.07936v4","created_at":"2026-05-17T23:45:21Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1702.07936","created_at":"2026-05-17T23:45:21Z"},{"alias_kind":"pith_short_12","alias_value":"Y7F74YUIUGNA","created_at":"2026-05-18T12:31:56Z"},{"alias_kind":"pith_short_16","alias_value":"Y7F74YUIUGNA5JYT","created_at":"2026-05-18T12:31:56Z"},{"alias_kind":"pith_short_8","alias_value":"Y7F74YUI","created_at":"2026-05-18T12:31:56Z"}],"events":[{"event_type":"record_created","subject_pith_number":"pith:2017:Y7F74YUIUGNA5JYTUI4I6DFUFF","target":"record","payload":{"canonical_record":{"source":{"id":"1702.07936","kind":"arxiv","version":4},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.RM","submitted_at":"2017-02-25T18:59:15Z","cross_cats_sorted":[],"title_canon_sha256":"78b2a7d1938b6a8812ab1ef2da9d6151cdcca8c153064b00f8f887fadc780917","abstract_canon_sha256":"ba32dd7b95456e520156380749ab5f18ae463a75777191d714ced30e6c85b706"},"schema_version":"1.0"},"canonical_sha256":"c7cbfe6288a19a0ea713a2388f0cb42962efb34462b0c992a1921e2d0bd4007a","receipt":{"kind":"pith_receipt","key_id":"pith-v1-2026-05","algorithm":"ed25519","signed_at":"2026-05-17T23:45:21.174856Z","signature_b64":"BnX/p3sHHWBhyNqPUPAHE8eXrRVnN0dgQyXCfQKAmg3Q5F/vyqIxCFFSfA1H4vztjpWW86aqnAmOEszNDYwRDA==","signed_message":"canonical_sha256_bytes","builder_version":"pith-number-builder-2026-05-17-v1","receipt_version":"0.3","canonical_sha256":"c7cbfe6288a19a0ea713a2388f0cb42962efb34462b0c992a1921e2d0bd4007a","last_reissued_at":"2026-05-17T23:45:21.174250Z","signature_status":"signed_v1","first_computed_at":"2026-05-17T23:45:21.174250Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"source_kind":"arxiv","source_id":"1702.07936","source_version":4,"attestation_state":"computed"},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-05-17T23:45:21Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"FJXhkjGlmqlwVoM4R+Q3u5GxIUhvSnsibt3x9yvuSiq4SuZ1eJeNLZOYFJQbo8PKsNTaigFmnEqliFolGo+qDQ==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-07-06T13:48:41.112301Z"},"content_sha256":"5c2d5b5c97245c242861501492036554b583e33968e1519656e6efcf1dc955a4","schema_version":"1.0","event_id":"sha256:5c2d5b5c97245c242861501492036554b583e33968e1519656e6efcf1dc955a4"},{"event_type":"graph_snapshot","subject_pith_number":"pith:2017:Y7F74YUIUGNA5JYTUI4I6DFUFF","target":"graph","payload":{"graph_snapshot":{"paper":{"title":"Obligations with Physical Delivery in a Multi-Layered Financial Network","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","headline":"","cross_cats":[],"primary_cat":"q-fin.RM","authors_text":"Zachary Feinstein","submitted_at":"2017-02-25T18:59:15Z","abstract_excerpt":"This paper provides a general framework for modeling financial contagion in a system with obligations in multiple illiquid assets (e.g., currencies). In so doing, we develop a multi-layered financial network that extends the single network of Eisenberg and Noe (2001). In particular, we develop a financial contagion model with fire sales that allows institutions to both buy and sell assets to cover their liabilities in the different assets and act as utility maximizers.\n  We prove that, under standard assumptions and without market impacts, equilibrium portfolio holdings exist and are unique. H"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1702.07936","kind":"arxiv","version":4},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"},"verdict_id":null},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-05-17T23:45:21Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"oDUjR/36PeIJSnIHCw7ntfe7uNuTkpt+D6YtJndScANZ2jJeI68Sf6V3EXJUl12POY/NfMMhtoo1EzgKb6ftBA==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-07-06T13:48:41.112663Z"},"content_sha256":"ed69b2639c8001f8a5a423972de343300433b8be11af5c9cdd94acf3210be26e","schema_version":"1.0","event_id":"sha256:ed69b2639c8001f8a5a423972de343300433b8be11af5c9cdd94acf3210be26e"}],"timestamp_proofs":[],"mirror_hints":[{"mirror_type":"https","name":"Pith Resolver","base_url":"https://pith.science","bundle_url":"https://pith.science/pith/Y7F74YUIUGNA5JYTUI4I6DFUFF/bundle.json","state_url":"https://pith.science/pith/Y7F74YUIUGNA5JYTUI4I6DFUFF/state.json","well_known_bundle_url":"https://pith.science/.well-known/pith/Y7F74YUIUGNA5JYTUI4I6DFUFF/bundle.json","status":"primary"}],"public_keys":[{"key_id":"pith-v1-2026-05","algorithm":"ed25519","format":"raw","public_key_b64":"stVStoiQhXFxp4s2pdzPNoqVNBMojDU/fJ2db5S3CbM=","public_key_hex":"b2d552b68890857171a78b36a5dccf368a953413288c353f7c9d9d6f94b709b3","fingerprint_sha256_b32_first128bits":"RVFV5Z2OI2J3ZUO7ERDEBCYNKS","fingerprint_sha256_hex":"8d4b5ee74e4693bcd1df2446408b0d54","rotates_at":null,"url":"https://pith.science/pith-signing-key.json","notes":"Pith uses this Ed25519 key to sign canonical record SHA-256 digests. Verify with: ed25519_verify(public_key, message=canonical_sha256_bytes, signature=base64decode(signature_b64))."}],"merge_version":"pith-open-graph-merge-v1","built_at":"2026-07-06T13:48:41Z","links":{"resolver":"https://pith.science/pith/Y7F74YUIUGNA5JYTUI4I6DFUFF","bundle":"https://pith.science/pith/Y7F74YUIUGNA5JYTUI4I6DFUFF/bundle.json","state":"https://pith.science/pith/Y7F74YUIUGNA5JYTUI4I6DFUFF/state.json","well_known_bundle":"https://pith.science/.well-known/pith/Y7F74YUIUGNA5JYTUI4I6DFUFF/bundle.json"},"state":{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2017:Y7F74YUIUGNA5JYTUI4I6DFUFF","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":"ba32dd7b95456e520156380749ab5f18ae463a75777191d714ced30e6c85b706","cross_cats_sorted":[],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.RM","submitted_at":"2017-02-25T18:59:15Z","title_canon_sha256":"78b2a7d1938b6a8812ab1ef2da9d6151cdcca8c153064b00f8f887fadc780917"},"schema_version":"1.0","source":{"id":"1702.07936","kind":"arxiv","version":4}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1702.07936","created_at":"2026-05-17T23:45:21Z"},{"alias_kind":"arxiv_version","alias_value":"1702.07936v4","created_at":"2026-05-17T23:45:21Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1702.07936","created_at":"2026-05-17T23:45:21Z"},{"alias_kind":"pith_short_12","alias_value":"Y7F74YUIUGNA","created_at":"2026-05-18T12:31:56Z"},{"alias_kind":"pith_short_16","alias_value":"Y7F74YUIUGNA5JYT","created_at":"2026-05-18T12:31:56Z"},{"alias_kind":"pith_short_8","alias_value":"Y7F74YUI","created_at":"2026-05-18T12:31:56Z"}],"graph_snapshots":[{"event_id":"sha256:ed69b2639c8001f8a5a423972de343300433b8be11af5c9cdd94acf3210be26e","target":"graph","created_at":"2026-05-17T23:45:21Z","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"},"paper":{"abstract_excerpt":"This paper provides a general framework for modeling financial contagion in a system with obligations in multiple illiquid assets (e.g., currencies). In so doing, we develop a multi-layered financial network that extends the single network of Eisenberg and Noe (2001). In particular, we develop a financial contagion model with fire sales that allows institutions to both buy and sell assets to cover their liabilities in the different assets and act as utility maximizers.\n  We prove that, under standard assumptions and without market impacts, equilibrium portfolio holdings exist and are unique. H","authors_text":"Zachary Feinstein","cross_cats":[],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.RM","submitted_at":"2017-02-25T18:59:15Z","title":"Obligations with Physical Delivery in a Multi-Layered Financial Network"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1702.07936","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":"sha256:5c2d5b5c97245c242861501492036554b583e33968e1519656e6efcf1dc955a4","target":"record","created_at":"2026-05-17T23:45:21Z","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":"ba32dd7b95456e520156380749ab5f18ae463a75777191d714ced30e6c85b706","cross_cats_sorted":[],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.RM","submitted_at":"2017-02-25T18:59:15Z","title_canon_sha256":"78b2a7d1938b6a8812ab1ef2da9d6151cdcca8c153064b00f8f887fadc780917"},"schema_version":"1.0","source":{"id":"1702.07936","kind":"arxiv","version":4}},"canonical_sha256":"c7cbfe6288a19a0ea713a2388f0cb42962efb34462b0c992a1921e2d0bd4007a","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"c7cbfe6288a19a0ea713a2388f0cb42962efb34462b0c992a1921e2d0bd4007a","first_computed_at":"2026-05-17T23:45:21.174250Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-05-17T23:45:21.174250Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"BnX/p3sHHWBhyNqPUPAHE8eXrRVnN0dgQyXCfQKAmg3Q5F/vyqIxCFFSfA1H4vztjpWW86aqnAmOEszNDYwRDA==","signature_status":"signed_v1","signed_at":"2026-05-17T23:45:21.174856Z","signed_message":"canonical_sha256_bytes"},"source_id":"1702.07936","source_kind":"arxiv","source_version":4}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:5c2d5b5c97245c242861501492036554b583e33968e1519656e6efcf1dc955a4","sha256:ed69b2639c8001f8a5a423972de343300433b8be11af5c9cdd94acf3210be26e"],"state_sha256":"f5e37d042e6347430a7c8ce53873eb0d22e3136389354b90eeb620865a3840ed"},"bundle_signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"BsGUkfKX8QW9qsDo790htNabrMGcOl9+jxV40y/ORxGJg4fP4vPPsUZxH9DfV9TcDLjjLqME4x2WMG3MBZXPDA==","signed_message":"bundle_sha256_bytes","signed_at":"2026-07-06T13:48:41.114515Z","bundle_sha256":"91e861b90511e6433e9c59a203fbf1678f438bfdc6fcebf941864734c3377732"}}