Bech, Morten L.; Atalay, Enghin - Federal Reserve Bank of New York - 2008
The recent turmoil in global financial markets underscores the importance of the federal funds market as a means of … 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 …