Zobrazeno 1 - 6
of 6
pro vyhledávání: '"Afonso, Gara M."'
Publikováno v:
Economic Policy Review. :41-58
The notion that some banks are “too big to fail” builds on the premise that governments will offer support to avoid the adverse consequences of disorderly bank failures. However, this promise of support comes at a cost: Large, complex, or interco
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od_______645::2691784dffee89124354fd967185699e
https://www.newyorkfed.org/medialibrary/media/research/epr/2014/1412afon.pdf
https://www.newyorkfed.org/medialibrary/media/research/epr/2014/1412afon.pdf
Autor:
Afonso, Gara M., Lagos, Ricardo
We present a dynamic over-the-counter model of the fed funds market, and use it to study the determination of the fed funds rate, the volume of loans traded, and the intraday evolution of the distribution of reserve balances across banks. We also inv
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=dedup_wf_001::71d9afab0d26fccdc4578f1e17406879
http://www.minneapolisfed.org/research/wp/wp711.pdf
http://www.minneapolisfed.org/research/wp/wp711.pdf
Autor:
Afonso, Gara M., Lagos, Ricardo
We develop a model of the market for federal funds that explicitly accounts for its two distinctive features: banks have to search for a suitable counterparty, and once they have met, both parties negotiate the size of the loan and the repayment. The
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=dedup_wf_001::e06624e669dc9c6a486fc98a81134639
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr549.html
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr549.html
Autor:
Afonso, Gara M., Lagos, Ricardo
We use minute-by-minute daily transaction-level payments data to document the cross-sectional and time-series behavior of the estimated prices and quantities negotiated by commercial banks in the fed funds market. We study the frequency and volume of
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od_______645::ce5679951d7453f659606f90d17f8ab2
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr550.html
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr550.html
Autor:
Afonso, Gara M.
This paper studies the relationship between the arrival of potential investors and market liquidity in a search-based model of asset trading. The entry of investors into a specific market causes two contradictory effects. First, it reduces trading co
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::b0a35228b6019da0af2616c3154da385
https://hdl.handle.net/10419/60735
https://hdl.handle.net/10419/60735
Autor:
Afonso, Gara M., Shin, Hyun Song
We study liquidity and systemic risk in high-value payment systems. Flows in high-value systems are characterized by high velocity, meaning that the total amount paid and received is high relative to the stock of reserves. In such systems, banks rely
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::cebb111ea5fc4a80098756cfc4ce23e0
https://hdl.handle.net/10419/60840
https://hdl.handle.net/10419/60840