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dc.contributor.authorErzurumlu, Yaman Ömer
dc.contributor.authorKotomin, Vladimir
dc.date.accessioned2016-03-24T10:14:26Z
dc.date.available2016-03-24T10:14:26Z
dc.date.issued2010-02
dc.identifier.citationErzurumlu, Y. Ö., & Kotomin, V. (2010). Inventory management effects, isolated: Evidence from the federal funds market. Quarterly Review of Economics and Finance, 50(1), 61-66. https://dx.doi.org/10.1016/j.qref.2009.09.008en_US
dc.identifier.issn1062-9769
dc.identifier.urihttps://dx.doi.org/10.1016/j.qref.2009.09.008
dc.identifier.urihttps://hdl.handle.net/11376/2464
dc.descriptionErzurumlu, Yaman Ömer (Dogus Author)en_US
dc.description.abstractThe federal funds market is highly competitive, has uniform information, and does not have most order-processing cost components of equity markets. Hence, it provides an opportunity to study the effect of inventory management on the bid-ask spread in an isolated fashion. Using a unique data set of daily borrowing and lending federal funds quotes posted by a large commercial bank, we find that the bank maintains a fairly constant bid-ask spread throughout a two-week reserve maintenance period. It acts similarly to a market maker facilitating flow of funds between depository institutions throughout the reserve maintenance period. The bank becomes more active toward the end of the period. In particular, on settlement Wednesday it increases the bid and ask quotes relative to the effective federal funds rate in an apparent attempt to manage its reserve inventory and satisfy its own reserve requirements.en_US
dc.language.isoengen_US
dc.publisherElsevieren_US
dc.identifier.doi10.1016/j.qref.2009.09.008en_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectBid-Ask Spreaden_US
dc.subjectFederal Fundsen_US
dc.subjectInventory Managementen_US
dc.titleInventory management effects, isolated: Evidence from the federal funds marketen_US
dc.typearticleen_US
dc.relation.journalQuarterly Review of Economics and Financeen_US
dc.departmentDoğuş Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Ekonomi ve Finans Bölümüen_US
dc.authoridTR122046en_US
dc.identifier.volume50en_US
dc.identifier.issue1en_US
dc.identifier.startpage61en_US
dc.identifier.endpage66en_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.institutionauthorErzurumlu, Yaman Ömer


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