; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "The Over-the-Counter Theory of the Fed Funds Market: A Primer"; ; "batchuser@example.com"; "Lagos, Ricardo", "Afonso, Gara"; "Federal Reserve Bank of Minneapolis"; "Fed funds market", "Over-the-counter market", "Bargaining", "Search"; "D83 - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness", "E44 - Financial Markets and the Macroeconomy", "C78 - Bargaining Theory; Matching Theory", "G10 - General Financial Markets: General (includes Measurement and Data)"; "We present a dynamic over-the-counter model of the fed funds market and use it to study the determination of the fed funds rate, the volume of loans traded, and the intraday evolution of the distribution of reserve balances across banks. We also investigate the implications of changes in the market structure, as well as the effects of central bank policy instruments such as open market operations, the discount window lending rate, and the interest rate on bank reserves. "^^; "2014-04-18"; "2019-05-20T18:36:29.430866455+00:00"^^; "https://doi.org/10.21034/wp.711"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Wed Oct 23 17:46:12 2019"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "438", "3"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "711"; "Bargaining", "Over-the-counter market", "Search", "Fed funds market"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; ; "Publication" . ; .