@techreport{Bech2008topology,
abstract = {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.},
address = {New York, NY},
author = {Morten L. Bech and Enghin Atalay},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E40; E58; E59; G10; 330; Federal funds; network; topology; interbank; money markets},
language = {eng},
number = {354},
publisher = {Federal Reserve Bank of New York},
title = {The topology of the federal funds market},
type = {Staff Report, Federal Reserve Bank of New York},
url = {http://hdl.handle.net/10419/60744},
year = {2008}
}
