The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Jan, 2015, Volume 83, Issue 1
https://doi.org/10.3982/ECTA10586
@ The Econometric Society 2015
p. 263-313
Gara Afonso and Ricardo Lagos
This zip file contains the replication files for the manuscript.
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.
