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dc.contributor.authorBech, Morten L.en_US
dc.contributor.authorAtalay, Enghinen_US
dc.date.accessioned2010-04-30en_US
dc.date.accessioned2012-08-17T14:32:15Z-
dc.date.available2012-08-17T14:32:15Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/60744-
dc.description.abstractThe 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.en_US
dc.language.isoengen_US
dc.publisherFederal Reserve Bank of New York New York, NYen_US
dc.relation.ispartofseriesStaff Report, Federal Reserve Bank of New York 354en_US
dc.subject.jelE40en_US
dc.subject.jelE58en_US
dc.subject.jelE59en_US
dc.subject.jelG10en_US
dc.subject.ddc330en_US
dc.subject.keywordFederal fundsen_US
dc.subject.keywordnetworken_US
dc.subject.keywordtopologyen_US
dc.subject.keywordinterbanken_US
dc.subject.keywordmoney marketsen_US
dc.titleThe topology of the federal funds marketen_US
dc.typeWorking Paperen_US
dc.identifier.ppn587564873en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Staff Reports, Federal Reserve Bank of New York

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