Econometrica: Jan 2015, Volume 83, Issue 1

Trade Dynamics in the Market for Federal Funds

https://doi.org/10.3982/ECTA10586
p. 263-313

Gara Afonso and Ricardo Lagos



Log In To View Full Content

Supplemental Material

Supplement to "Trade Dynamics in the Market for Federal Funds"

This zip file contains the replication files for the manuscript.

Read More View ZIP


Supplement to "Trade Dynamics in the Market for Federal Funds"

This appendix consists of three sections.  Efficiency: in this section we use the theory to characterize the optimal process of reallocation of reserve balances in the fed funds market by studying the problem of a social planner who can reallocate reserves subject to the same bilateral trading technology available to private agents and shows the equilibrium.  Data: in this section we describe the data and estimation procedures used in the quantitative implementation of the theory.  Quantitative Exercises: in this section we conduct supplementary policy experiments and robustness exercises.

Read More View PDF


Back