Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Jan, 2015, Volume 83, Issue 1

Trade Dynamics in the Market for Federal Funds
@ The Econometric Society 2015
p. 263-313

Gara Afonso and Ricardo Lagos

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Supplemental Material

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

This zip file contains the replication files for the manuscript.

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.

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