The topology of the federal funds market

by Morten L. Bech and Enghin Atalay

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

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Year of publication:	2008
Authors:	Bech, Morten L. ; Atalay, Enghin
Publisher:	Frankfurt am Main : European Central Bank
Subject:	Geldmarkt \| Money market \| Unternehmensarchitektur \| Enterprise architecture \| Liquidität \| Liquidity \| Geldpolitische Transmission \| Monetary transmission \| USA \| United States \| 1997-2006

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Extent:	Online-Ressource, (37 S., 2794 KB)
Series:	Working paper series / European Central Bank. - Frankfurt, M. : European Central Bank, ISSN 1725-2806, ZDB-ID 2123559-4. - Vol. 986
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/153420 [Handle]
Classification:	E4 - Money and Interest Rates ; E58 - Central Banks and Their Policies ; E59 - Monetary Policy, Central Banking and the Supply of Money and Credit. Other ; G1 - General Financial Markets
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10003826072