microfounded network model with endogenous network formation to analyze the impact of central banks' monetary policy interventions …

network. We first provide a characterization of the unique equilibrium of banks' liquidity holdings for any network of credit … lines. Then, we endogenize the network and show that every equilibrium network is a complete coreperiphery graph. Central … accounting for banks' endogenous linking decisions, a narrower corridor may lead to a sparser interbank network with higher …

In this paper we analyze the network structure that endogenously emerges in the credit market of the agent-based model … 'network-based accelerator'. We focus on the properties of the network topology and its interplay with the overall economic … performance. Moreover, we empirically calibrate the banking network in the model by using Japanese real data …

., Gaffeo, E., Cirillo, P. and Gallegati, M. (Macroeconomics from the bottom-up, 2011) with the inclusion of a bank-bank network …

network effects of US monetary policy on the industry level. Second, we account for cross-sectional heterogeneity and cluster … network effects varies strongly over time. In particular, US recessions tend to coincide with periods where between 40 to 60 … percent of the overall effects can be attributed to network effects; expansionary economic episodes show muted network effects …

curve. We find that the network of interest rate surprises is indeed asymmetric, and defined by spillovers between adjacent …We introduce a flexible, time-varying network model to trace the propagation of interest rate surprises across … contemporaneous spillovers across panel units, and establish the finite sample properties of the model via simulations. Second, we …