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dc.contributor.authorFricke, Danielen_US
dc.contributor.authorLux, Thomasen_US
dc.date.accessioned2012-03-09en_US
dc.date.accessioned2012-03-13T15:08:45Z-
dc.date.available2012-03-13T15:08:45Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/55868-
dc.description.abstractWe explore the network topology arising from a dataset of the overnight interbank transactions on the e-MID trading platform from January 1999 to December 2010. In order to shed light on the hierarchical structure of the banking system, we estimate different versions of a core-periphery model. Our main findings are: (1) A core-periphery structure provides a better fit for these interbank data than alternative network models, (2) the identified core is quite stable over time, consisting of roughly 28% of all banks before the global financial crisis (GFC) and 23% afterwards, (3) the majority of core banks can be classified as intermediaries, i.e. as banks both borrowing and lending money, (4) allowing for asymmetric `coreness' with respect to lending and borrowing considerably improves the fit, and reveals more concentration in borrowing than lending activity of money center banks. During the financial crisis of 2008, the reduction of interbank lending was mainly due to core banks' reducing their numbers of active outgoing links.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel Working Papers 1759en_US
dc.subject.jelG21en_US
dc.subject.jelG01en_US
dc.subject.jelE42en_US
dc.subject.ddc330en_US
dc.subject.keywordinterbank marketen_US
dc.subject.keywordnetwork modelsen_US
dc.subject.keywordsystemic risken_US
dc.subject.keywordfinancial crisisen_US
dc.subject.stwGeldmarkten_US
dc.subject.stwBankensystemen_US
dc.subject.stwUnternehmensnetzwerken_US
dc.subject.stwKern-Peripherie-Beziehungen_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwWelten_US
dc.titleCore-periphery structure in the overnight money market: Evidence from the e-MID trading platformen_US
dc.typeWorking Paperen_US
dc.identifier.ppn688262775en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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Kieler Arbeitspapiere, IfW

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