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http://cide.repositorioinstitucional.mx/jspui/handle/1011/836| Coordinated intermediation in the federal funds market | |
| Alexander Dentler | |
| Acceso Abierto | |
| Atribución-NoComercial-SinDerivadas | |
| Intermediation (Finance) -- United States -- Econometric models. Federal funds market (United States) -- Econometric models. Foreign exchange market -- United States -- Econometric models. | |
| Intermediation motivates why some banks move further away from their implied target level during the fed funds trading window. I use partially directed search (PDS) where search decisión coordinate trade among two groups that are possibly identical otherwise. Middlemen behaviour evolves endogenously and is illustrated in a small scale model. Robustness is discussed. A large scale model based on stylized facts of 2006 replicates the puzle where undirected search (US) comes short. PDS is flexible enough to address another puzzle about inflated variances of fed funds rates in US models. | |
| Centro de Investigación y Docencia Económicas A. C. | |
| 2019 | |
| Documento de trabajo | |
| Inglés | |
| Estudiantes Investigadores | |
| CIENCIAS SOCIALES | |
| Versión publicada | |
| publishedVersion - Versión publicada | |
| Aparece en las colecciones: | División de Economía, Documentos de Trabajo |
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| Fichero | Descripción | Tamaño | Formato | |
|---|---|---|---|---|
| 000164982_documento.pdf | Documento electrónico | 538.86 kB | Adobe PDF | Visualizar/Abrir |