Instruct: Identify the main and secondary category of Arxiv papers based on the titles and abstracts
Query: Structural distortions in the Euro interbank market: The role of 'key
  players' during the recent market turmoil   We study the frictions in the patterns of trades in the Euro money market. We
characterize the structure of lending relations during the period of recent
financial turmoil. We use network-topology method on data from overnight
transactions in the Electronic Market for Interbank Deposits (e-Mid) to
investigate on two main issues. First, we characterize the division of roles
between borrowers and lenders in long-run relations by providing evidence on
network formation at a yearly frequency. Second, we identify the 'key players'
in the marketplace and study their behaviour. Key players are 'locally-central
banks' within a network that lend (or borrow) large volumes to (from) several
counterparties, while borrowing (or lending) small volumes from (to) a small
number of institutions. Our results are twofold. We show that the aggregate
trading patterns in e-Mid are characterized by largely asymmetric relations.
This implies a clear division of roles between lenders and borrowers. Second,
the key players do not exploit their position of network leaders by imposing
opportunistic pricing policies. We find that only a fraction of the networks
composed by big players are characterized by interest rates that are
statistically different from the average market rate throughout the turmoil
period.

20
The categories of this paper are: acc-phys
36
The categories of this paper are: cmp-lg
25
The categories of this paper are: patt-sol
2
The categories of this paper are: math
5
The categories of this paper are: gr-qc
26
The categories of this paper are: bayes-an
11
The categories of this paper are: hep-lat
30
The categories of this paper are: q-alg
8
The categories of this paper are: hep-ex
21
The categories of this paper are: adap-org
4
The categories of this paper are: cond-mat
14
The categories of this paper are: math-ph
22
The categories of this paper are: chao-dyn
6
The categories of this paper are: astro-ph
33
The categories of this paper are: plasm-ph
10
The categories of this paper are: q-bio