Market structure and pricing

• February 17, 2011

  Competition in the Canadian Mortgage Market

  Bank of Canada Review - Winter 2010-2011 Jason Allen

  This article begins with a brief examination of the Canadian mortgage market, focusing on the market’s evolution following changes to the Bank Act in 1992, which allowed chartered banks to enter the trust business, and the subsequent entrance of virtual banks and mortgage brokers.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Interest rates, Market structure and pricing, Monetary policy transmission
• February 17, 2011

  Adverse Selection and Financial Crises

  Bank of Canada Review - Winter 2010-2011 Koralai Kirabaeva

  The recent financial crisis has highlighted the importance of adverse selection as a contributing factor to financial market instability.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Financial stability, Financial system regulation and policies, Market structure and pricing

• Private Information Flow and Price Discovery in the U.S. Treasury Market

  Staff Working Paper 2011-5 George Jiang, Ingrid Lo

  Existing studies show that U.S. Treasury bond price changes are mainly driven by public information shocks, as manifested in macroeconomic news announcements and events. The literature also shows that heterogeneous private information contributes significantly to price discovery for U.S. Treasury securities.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Market structure and pricing JEL Code(s): G, G1, G12, G14