Title of article :
Which bankisthe‘‘central’’bank?$
Author/Authors :
Morten L. Bech، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2010
Pages :
12
From page :
352
To page :
363
Abstract :
Liquidityflowsthroughafinancialnetworkcannotbeaccuratelydescribedusing externalprocessingconstraintsalone.Behavioralaspectsofparticipantsalsomatter. A methodsimilartoGoogle’sPageRankprocedureisusedtoproducearankingof participantsintheCanadianLargeValueTransferSystemintermsoftheirdailyliquidity holdings.Accountingfordifferencesinbanks’processingspeedsisessentialfor explainingwhyobserveddistributionsofliquiditydifferfromtheinitialdistributions, whicharedeterminedbythecreditlimitsselectedbybanks.Delaytendenciesofbanks areunobservableinthedataandareestimatedusingaMarkovmodel.
Keywords :
Payment systemsNetworksLiquidity
Journal title :
Journal of Monetary Economics
Serial Year :
2010
Journal title :
Journal of Monetary Economics
Record number :
846396
Link To Document :
https://search.isc.ac/dl/search/defaultta.aspx?DTC=10&DC=846396
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