(a) Neuron firing is inversely related to the phase of α-waves: during peaks of α-waves, neurons fire the least, while they fire maximally during troughs (adapted from Haegens et al., 2011). (b) Our simulations indicate that the inverse relationship between firing and α-phase is related to the ongoing balancing of neural excitation and inhibition (adapted from Atallah and Scanziani, 2009). Reprinted with permission of Elsevier.). (c) On a longer time scale (<0.25 Hz), oscillations of firing rates are inversely related to α-band power fluctuations (adapted from Haegens et al., 2011). (d) Model simulations suggest a mechanism that transforms α-band power oscillations into fMRI oscillations, predicting subject-specific resting-state fMRI time series, corresponding spatial network patterns and the inverse correlation between α-power and fMRI (adapted from de Munck et al., 2008. Reprinted with permission of Elsevier.). (e) Emergence of scale-free fMRI power spectra (adapted from He, 2011) resulted from long-range network input. (f) Individual functional connectivity matrices were predicted over long and short time windows (adapted from Allen et al., 2014).