G0 - General - Bank of Canada
https://www.bankofcanada.ca/rss-feeds/
Bank of Canada RSS Feedsen2024-03-28T22:43:16+00:00Financial Crisis Resolution
https://www.bankofcanada.ca/2012/12/working-paper-2012-42/
This paper studies a dynamic version of the Holmstrom-Tirole model of intermediated finance. I show that competitive equilibria are not constrained efficient when the economy experiences a financial crisis. A pecuniary externality entails that banks’ desire to accumulate capital over time aggravates the scarcity of informed capital during the financial crisis.2012-12-21T07:52:41+00:00enFinancial Crisis Resolution2012-12-21Financial marketsFinancial system regulation and policiesWorking Paper 2012-42https://www.bankofcanada.ca/wp-content/uploads/2012/12/wp2012-42.pdfFinancial Crisis ResolutionJosef SchrothDecember 2012DD5D53EE6E60GG0G01G1G10G18Financial Transaction Taxes: International Experiences, Issues and Feasibility
https://www.bankofcanada.ca/wp-content/uploads/2012/11/boc-review-autumn12-pomeranets.pdf
The financial transaction tax (FTT) is a policy idea with a long history that, in the wake of the global financial crisis, has attracted renewed interest in some quarters. This article examines the evidence of the impact of an FTT on market quality and explores a few of the practical issues surrounding the implementation of an FTT. Proponents argue that an FTT will generate substantial tax revenues and reduce market volatility. The majority of the empirical evidence, however, supports the arguments of opponents of the tax who assert that an FTT reduces volume and liquidity and increases volatility. In addition, there are numerous challenges in implementing an FTT, which may reduce the intended revenues. Whether an FTT is beneficial hinges on its effect on market quality and its ability to raise revenues. However, there are many unanswered questions regarding its design.2012-11-15T07:52:31+00:00enFinancial Transaction Taxes: International Experiences, Issues and Feasibility2012-11-15Does the Buck Stop Here? A Comparison of Withdrawals from Money Market Mutual Funds with Floating and Constant Share Prices
https://www.bankofcanada.ca/2012/08/working-paper-2012-25/
Recent reform proposals call for an elimination of the constant net asset value (NAV) or “buck” in money market mutual funds to reduce the occurrence of runs. Outside the United States, there are several countries that have money market mutual funds with and without constant NAVs.2012-08-27T10:00:33+00:00enDoes the Buck Stop Here? A Comparison of Withdrawals from Money Market Mutual Funds with Floating and Constant Share Prices2012-08-27Financial marketsFinancial stabilityMarket structure and pricingWorking Paper 2012-25https://www.bankofcanada.ca/wp-content/uploads/2012/08/wp2012-25.pdfDoes the Buck Stop Here? A Comparison of Withdrawals from Money Market Mutual Funds with Floating and Constant Share PricesJonathan WitmerAugust 2012FF3F30GG0G01G1G18G2G20Estimating the Demand for Settlement Balances in the Canadian Large Value Transfer System
https://www.bankofcanada.ca/2012/05/working-paper-2012-15/
This paper applies a static model of an interest rate corridor to the Canadian data, and estimates the aggregate demand for central-bank settlement balances in the Large Value Transfer System (LVTS).2012-05-28T10:57:33+00:00enEstimating the Demand for Settlement Balances in the Canadian Large Value Transfer System2012-05-28Interest ratesMonetary policy implementationPayment clearing and settlement systemsWorking Paper 2012-15https://www.bankofcanada.ca/wp-content/uploads/2012/05/wp2012-15.pdfEstimating the Demand for Settlement Balances in the Canadian Large Value Transfer SystemNellie ZhangMay 2012CC3C36EE4E40E5E50GG0G01Understanding Systemic Risk in the Banking Sector: A MacroFinancial Risk Assessment Framework
https://www.bankofcanada.ca/wp-content/uploads/2012/05/boc-review-spring12-gauthier.pdf
The MacroFinancial Risk Assessment Framework (MFRAF) models the interconnections between liquidity and solvency in a financial system, with multiple institutions linked through an interbank network. The MFRAF integrates funding liquidity risk as an endogenous outcome of the interactions between solvency risk and the liquidity profiles of banks, which is a complementary approach to the new […]2012-05-17T10:21:49+00:00enUnderstanding Systemic Risk in the Banking Sector: A MacroFinancial Risk Assessment Framework2012-05-17