Arbeitspapier
The topology of the federal funds market
The recent turmoil in global financial markets underscores the importance of the federal funds market as a means of distributing liquidity throughout the financial system and a tool for implementing monetary policy. In this paper, we explore the network topology of the federal funds market. We find that the network is sparse, exhibits the small-world phenomenon, and is disassortative. In addition, reciprocity loans track the federal funds rate, and centrality measures are useful predictors of the interest rate of a loan.
- Language
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Englisch
- Bibliographic citation
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Series: Staff Report ; No. 354
- Classification
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Wirtschaft
Money and Interest Rates: General
Central Banks and Their Policies
Monetary Policy, Central Banking, and the Supply of Money and Credit: Other
General Financial Markets: General (includes Measurement and Data)
- Subject
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Federal funds
network
topology
interbank
money markets
- Event
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Geistige Schöpfung
- (who)
-
Bech, Morten L.
Atalay, Enghin
- Event
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Veröffentlichung
- (who)
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Federal Reserve Bank of New York
- (where)
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New York, NY
- (when)
-
2008
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
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
- Federal Reserve Bank of New York
Time of origin
- 2008