G - Financial Economics - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T09:30:33+00:00Futures Markets, Oil Prices and the Intertemporal Approach to the Current Account
https://www.bankofcanada.ca/2008/12/working-paper-2008-48/
The intertemporal approach to the current account suggests modeling movements in the current account in a forward-looking, dynamic framework. In this framework, the current account reflects consumption smoothing of agents that lend and borrow from the rest of the world in the face of transitory shocks to income.2008-12-18T10:26:11+00:00enFutures Markets, Oil Prices and the Intertemporal Approach to the Current Account2008-12-18Balance of payments and componentsWorking Paper 2008-48 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-48.pdfFutures Markets, Oil Prices and the Intertemporal Approach to the Current AccountElif ArbatliDecember 2008CC2C22FF2F21F3F32GG1G13How Important Is Liquidity Risk for Sovereign Bond Risk Premia? Evidence from the London Stock Exchange
https://www.bankofcanada.ca/2008/12/working-paper-2008-47/
This paper uses the framework of arbitrage-pricing theory to study the relationship between liquidity risk and sovereign bond risk premia. The London Stock Exchange in the late 19th century is an ideal laboratory in which to test the proposition that liquidity risk affects the price of sovereign debt.2008-12-08T10:20:50+00:00enHow Important Is Liquidity Risk for Sovereign Bond Risk Premia? Evidence from the London Stock Exchange2008-12-08Financial marketsInternational topicsWorking Paper 2008-47 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-47.pdfHow Important Is Liquidity Risk for Sovereign Bond Risk Premia? Evidence from the London Stock ExchangeRon AlquistDecember 2008FF2F21F3F34F36GG1G12G15A Survey and Risk Analysis of Selected Non-Bank Retail Payments Systems
https://www.bankofcanada.ca/2008/11/discussion-paper-2008-17/
Payment services offered by non-banks have flourished in recent years. The author provides an overview of the different kinds of non-bank retail payments schemes currently available in Canada, illustrating each by focusing on a specific example.2008-11-25T15:21:29+00:00enA Survey and Risk Analysis of Selected Non-Bank Retail Payments Systems2008-11-25Financial servicesPayment clearing and settlement systemsDiscussion Paper 2008-17https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-17.pdfA Survey and Risk Analysis of Selected Non-Bank Retail Payments SystemsNikil ChandeNovember 2008DD1D14GG2G20The Role of Foreign Exchange Dealers in Providing Overnight Liquidity
https://www.bankofcanada.ca/2008/11/working-paper-2008-44/
This paper illustrates that dealers in foreign exchange markets not only provide intraday liquidity, they are key participants in the provision of overnight liquidity. Dealing institutions receive compensation for holding undesired inventory balances in part from the information they receive in customer trades.2008-11-08T16:37:16+00:00enThe Role of Foreign Exchange Dealers in Providing Overnight Liquidity2008-11-08Exchange ratesFinancial marketsMarket structure and pricingWorking Paper 2008-44 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-44.pdfThe Role of Foreign Exchange Dealers in Providing Overnight LiquidityChris D'SouzaNovember 2008DD8D82FF3F31GG2G21McCallum Rules, Exchange Rates, and the Term Structure of Interest Rates
https://www.bankofcanada.ca/2008/10/working-paper-2008-43/
McCallum (1994a) proposes a monetary rule where policymakers have some tendency to resist rapid changes in exchange rates to explain the forward premium puzzle.2008-10-28T16:20:31+00:00enMcCallum Rules, Exchange Rates, and the Term Structure of Interest Rates2008-10-28Exchange ratesInterest ratesMonetary policy transmissionWorking Paper 2008-43 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-43.pdfMcCallum Rules, Exchange Rates, and the Term Structure of Interest RatesAntonio Diez de los RiosOctober 2008EE4E43FF3F31GG1G12G15Which Bank is the "Central" Bank? An Application of Markov Theory to the Canadian Large Value Transfer System
https://www.bankofcanada.ca/2008/10/working-paper-2008-42/
We use a method similar to Google's PageRank procedure to rank banks in the Canadian Large Value Transfer System (LVTS). Along the way we obtain estimates of the payment processing speeds for the individual banks.2008-10-26T16:11:24+00:00enWhich Bank is the "Central" Bank? An Application of Markov Theory to the Canadian Large Value Transfer System2008-10-26Payment clearing and settlement systemsWorking Paper 2008-42 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-42.pdfWhich Bank is the "Central" Bank? An Application of Markov Theory to the Canadian Large Value Transfer SystemMorten BechJames ChapmanRodney J. GarrattOctober 2008CC1C11EE5E50GG2G20Financial Constraints and the Cash-Holding Behaviour of Canadian Firms
https://www.bankofcanada.ca/2008/10/discussion-paper-2008-16/
The proportion of assets held by the average Canadian firm in the form of cash has increased steadily since the early 1990s, and is now roughly twice as large as in 1990. The literature has established that the cash-holding behaviour of firms is highly correlated with financial constraints and firm characteristics.2008-10-25T14:56:14+00:00enFinancial Constraints and the Cash-Holding Behaviour of Canadian Firms2008-10-25Sectoral balance sheetDiscussion Paper 2008-16https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-16.pdfFinancial Constraints and the Cash-Holding Behaviour of Canadian FirmsDarcey McVanelNikita PerevalovOctober 2008GG1G11G3G32Are There Canada-U.S. Differences in SME Financing?
https://www.bankofcanada.ca/2008/10/working-paper-2008-41/
Previous surveys of Canadian and U.S. business owners suggest that access to financing in Canada may be more problematic than in the United States. Using the 2003 Survey of Small Business Financing in the United States and the 2004 Survey on Financing of Small and Medium Enterprises in Canada, this paper examines whether this perception can be better quantified.2008-10-20T16:04:57+00:00enAre There Canada-U.S. Differences in SME Financing?2008-10-20Financial servicesWorking Paper 2008-41https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-41.pdfAre There Canada-U.S. Differences in SME Financing?Danny LeungCésaire MehYaz TerajimaOctober 2008CC2C21GG2G21The Role of Bank Capital in the Propagation of Shocks
https://www.bankofcanada.ca/2008/10/working-paper-2008-36/
Recent events in financial markets have underlined the importance of analyzing the link between the financial health of banks and real economic activity. This paper contributes to this analysis by constructing a dynamic general equilibrium model in which the balance sheet of banks affects the propagation of shocks.2008-10-02T14:41:35+00:00enThe Role of Bank Capital in the Propagation of Shocks2008-10-02Economic modelsFinancial institutionsFinancial system regulation and policiesMonetary policy transmissionWorking Paper 2008-36 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-36.pdfThe Role of Bank Capital in the Propagation of ShocksCésaire MehKevin MoranOctober 2008EE4E44E5E52GG2G21The Impact of Sovereign Wealth Funds on International Financial Stability
https://www.bankofcanada.ca/2008/09/discussion-paper-2008-14/
Over the recent period, many emerging-market economies and commodity-exporting nations have experienced unprecedented growth and accumulated substantial amounts of foreign exchange reserves. The management of these foreign reserves has led to the emergence of important financial actors: sovereign wealth funds (SWFs).2008-09-25T14:32:24+00:00enThe Impact of Sovereign Wealth Funds on International Financial Stability2008-09-25Financial stabilityRecent economic and financial developmentsDiscussion Paper 2008-14https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-14.pdfThe Impact of Sovereign Wealth Funds on International Financial StabilityTamara GomesSeptember 2008FF2F21F3F31F32GG1G15