  We use the exponential random graph models to understand the network
structure and its generative process for the Japanese bipartite network of
banks and firms. One of the well known and simple model of exponential random
graph is the Bernoulli model which shows the links in the bank-firm network are
not independent from each other. Another popular exponential random graph
model, the two star model, indicates that the bank-firms are in a state where
macroscopic variables of the system can show large fluctuations. Moreover, the
presence of high fluctuations reflect a fragile nature of the bank-firm
network.
