Network topology of the Argentine interbank money market
Federico Forte

TL;DR
This paper empirically analyzes the Argentine interbank money market's network structure from 2003 to 2017, revealing its topological features, volatility, and implications for systemic risk and interest rate dynamics.
Contribution
It provides the first detailed empirical network analysis of the Argentine interbank market, highlighting its structural properties and their economic significance.
Findings
Network exhibits low density and high reciprocity.
Degree distributions fit Lognormal better than other models.
Higher centrality correlates with more favorable bilateral interest rates.
Abstract
This paper provides the first empirical network analysis of the Argentine interbank money market. Its main topological features are examined applying graph theory, focusing on the unsecured overnight loans settled from 2003 to 2017. The network, where banks are the nodes and the operations between them represent the links, exhibits low density, a higher reciprocity than comparable random graphs, short average distances and its clustering coefficient remains above that of a random network of equal size. Furthermore, the network is prominently disassortative. Its structural metrics experienced significant volatility, in correlation with the economic activity fluctuations and regulatory shifts. Signs of nodes' random-like behavior are detected during contractions. The degree distributions fit better to a Lognormal distribution than to a Poisson or a Power Law. Additionally, different node…
Peer Reviews
No public reviews on file for this paper yet. If you reviewed it on a platform where reviews are public (OpenReview, ICLR, NeurIPS, ICML), you can paste yours below so the community can read it here.
Videos
No videos yet. Explain this paper in a talk, walkthrough, or lecture? Add one.
