The Topology of the Federal Funds Market
The Topology of the Federal Funds Market
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DOI：
10.2139/ssrn.1299021
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发表时间：
2008-11
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我们探讨的网络拓扑结构的联邦基金市场。这个市场对于在整个金融体系中分配流动性和实施货币政策非常重要。最近全球金融市场的动荡突出了其重要性。我们发现，该网络是稀疏的，表现出小世界现象，是discretative。中心性度量是预测贷款利率的有用指标。
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. Centrality measures are useful predictors of the interest rate of a loan.