A signature feature of cortical circuits is the irregularity of neuronal firing, which manifests itself in the high temporal variability of spiking and the broad distribution of rates. Theoretical works have shown that this feature emerges dynamically in network models if coupling between cells is strong, i.e. if the mean number of synapses per neuron K is large and synaptic efficacy is of order 1/\sqrt{K}. However, the degree to which these models capture the mechanisms underlying neuronal firing in cortical circuits is not fully understood. Results have been derived using neuron models with current-based synapses, i.e. neglecting the dependence of synaptic current on the membrane potential, and an understanding of how irregular firing emerges in models with conductance-based synapses is still lacking. Moreover, at odds with the nonlinear responses to multiple stimuli observed in cortex, network models with strongly coupled cells respond linearly to inputs. In this talk, I will discuss the emergence of irregular firing and nonlinear response in networks of leaky integrate-and-fire neurons. First, I will show that, when synapses are conductance-based, irregular firing emerges if synaptic efficacy is of order 1/\log(K) and, unlike in current-based models, persists even under the large heterogeneity of connections which has been reported experimentally. I will then describe an analysis of neural responses as a function of coupling strength and show that, while a linear input-output relation is ubiquitous at strong coupling, nonlinear responses are prominent at moderate coupling. I will conclude by discussing experimental evidence of moderate coupling and loose balance in the mouse cortex.