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The Network of Large-Value Loans in the U.S.: Concentration and Segregation

Author

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  • Anton Badev

    (Federal Reserve Board)

Abstract

We analyse the universe of large-value loans intermediated through Fedwire---the primary U.S. real-time, gross settlement service provided by the Federal Reserve System---for the period from 2007 to 2015. We document a series of fundamental changes in the topology of bilateral loan network and propose theoretical framework to study the evolution of concentration of large-value loan intermediaries which builds on the literature on homophily in social science.

Suggested Citation

  • Anton Badev, 2016. "The Network of Large-Value Loans in the U.S.: Concentration and Segregation," 2016 Meeting Papers 787, Society for Economic Dynamics.
    • Handle: RePEc:red:sed016:787
    as

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    References listed on IDEAS

    as
    1. Soramäki, Kimmo & Bech, Morten L. & Arnold, Jeffrey & Glass, Robert J. & Beyeler, Walter E., 2007. "The topology of interbank payment flows," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 379(1), pages 317-333.
    2. Venkatesh Bala & Sanjeev Goyal, 2000. "A Noncooperative Model of Network Formation," Econometrica, Econometric Society, vol. 68(5), pages 1181-1230, September.
    3. Anton Badev, 2014. "Discrete Games in Endogenous Networks: Theory and Policy," 2014 Meeting Papers 901, Society for Economic Dynamics.
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