Arbeitspapier
The topology of the federal funds market
We explore the network topology of the federal funds market. This market is important for distributing liquidity throughout the financial system and for the implementation of monetary policy. The recent turmoil in global financial markets underscores its importance. We find that the network is sparse, exhibits the small world phenomenon and is disassortative. Reciprocity tracks the federal funds rate and centrality measures are useful predictors of the interest rate of a loan.
- Language
-
Englisch
- Bibliographic citation
-
Series: ECB Working Paper ; No. 986
- Classification
-
Wirtschaft
Central Banks and Their Policies
Monetary Policy, Central Banking, and the Supply of Money and Credit: Other
- Subject
-
interbank
money market
network
topology
Geldmarkt
Unternehmensarchitektur
Liquidität
Geldpolitische Transmission
USA
- Event
-
Geistige Schöpfung
- (who)
-
Bech, Morten L.
Atalay, Enghin
- Event
-
Veröffentlichung
- (who)
-
European Central Bank (ECB)
- (where)
-
Frankfurt a. M.
- (when)
-
2008
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Bech, Morten L.
- Atalay, Enghin
- European Central Bank (ECB)
Time of origin
- 2008
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A model of the federal funds market: Yesterday, today, and tomorrow
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