Jonathan Chiu - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T15:36:25+00:00Financial Intermediation, Liquidity and Inflation
https://www.bankofcanada.ca/2008/12/working-paper-2008-49/
This paper develops a search-theoretic model to study the interaction between banking and monetary policy and how this interaction affects the allocation and welfare. Regarding how banking affects the welfare costs of inflation: First, we find that, with banking, inflation generates smaller welfare costs.2008-12-28T10:30:11+00:00enFinancial Intermediation, Liquidity and Inflation2008-12-28Monetary policy frameworkWorking Paper 2008-49 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-49.pdfFinancial Intermediation, Liquidity and InflationJonathan ChiuCésaire MehDecember 2008EE4E40E5E50A Model of Tiered Settlement Networks
https://www.bankofcanada.ca/wp-content/uploads/2012/01/fsr-0608-chapman.pdf
2008-06-21T15:58:05+00:00enA Model of Tiered Settlement Networks2008-06-21Uncertainty, Inflation, and Welfare
https://www.bankofcanada.ca/2008/05/working-paper-2008-13/
This paper studies the welfare costs and the redistributive effects of inflation in the presence of idiosyncratic liquidity risk, in a micro-founded search-theoretical monetary model. We calibrate the model to match the empirical aggregate money demand and the distribution of money holdings across households, and study the effects of inflation under the implied degree of market incompleteness.2008-05-08T12:19:21+00:00enUncertainty, Inflation, and Welfare2008-05-08Inflation: costs and benefitsMonetary policy frameworkWorking Paper 2008-13 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-13.pdfUncertainty, Inflation, and WelfareJonathan ChiuMiguel MolicoMay 2008EE4E40E5E50A Model of Tiered Settlement Networks
https://www.bankofcanada.ca/2008/05/working-paper-2008-12/
This paper develops a model of settlement system to study the endogenous structure of settlement networks, and the welfare consequences of clearing agent failure. The equilibrium degree of tiering is endogenously determined by the cost structure and the information structure.2008-05-04T12:14:42+00:00enA Model of Tiered Settlement Networks2008-05-04Payment clearing and settlement systemsWorking Paper 2008-12 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-12.pdfA Model of Tiered Settlement NetworksJames ChapmanJonathan ChiuMiguel MolicoMay 2008EE4E42E5E58GG2G21