Jason Allen - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T10:18:19+00:00Price Negotiation in Differentiated Products Markets: Evidence from the Canadian Mortgage Market
https://www.bankofcanada.ca/2012/09/working-paper-2012-30/
This paper measures market power in a decentralized market where contracts are determined through a search and negotiation process. The mortgage industry has many institutional features which suggest competitiveness: homogeneous contracts, negotiable rates, and, for a given consumer, common lending costs across lenders.2012-09-28T09:20:40+00:00enPrice Negotiation in Differentiated Products Markets: Evidence from the Canadian Mortgage Market2012-09-28Financial institutionsFinancial servicesMarket structure and pricingWorking Paper 2012-30https://www.bankofcanada.ca/wp-content/uploads/2012/09/wp2012-30.pdfPrice Negotiation in Differentiated Products Markets: Evidence from the Canadian Mortgage MarketJason AllenRobert ClarkJean-François HoudeAugust 2012DD4GG2G21LL2L22Efficiency and Bargaining Power in the Interbank Loan Market
https://www.bankofcanada.ca/2012/09/working-paper-2012-29/
Using detailed loan transactions-level data we examine the efficiency of an overnight interbank lending market, and the bargaining power of its participants. Our analysis relies on the equilibrium concept of the core, which imposes a set of no-arbitrage conditions on trades in the market.2012-09-27T12:29:49+00:00enEfficiency and Bargaining Power in the Interbank Loan Market2012-09-27Financial institutionsPayment clearing and settlement systemsWorking Paper 2012-29https://www.bankofcanada.ca/wp-content/uploads/2012/09/wp2012-29.pdfEfficiency and Bargaining Power in the Interbank Loan MarketJason AllenJames ChapmanFederico EcheniqueMatthew ShumSeptember 2012CC7C71EE5E58GG2G21G28Consumer Bankruptcy and Information
https://www.bankofcanada.ca/2012/07/working-paper-2012-18/
We analyze the relationship between the intensity of banks’ use of soft-information and household bankruptcy patterns. Using a unique data set on the universe of Canadian household bankruptcies, we document that bankruptcy rates are higher in markets where the collection of soft, or qualitative locally gathered information, is the weakest.2012-07-20T09:14:02+00:00frConsumer Bankruptcy and Information2012-07-20Financial institutionsFinancial servicesWorking Paper 2012-18https://www.bankofcanada.ca/wp-content/uploads/2012/07/wp2012-18.pdfConsumer Bankruptcy and InformationJason AllenH. Evren DamarDavid Martinez-MieraJuly 2012DD4GG2Household Insolvency in Canada
https://www.bankofcanada.ca/wp-content/uploads/2012/02/boc-review-winter11-12-allen.pdf
With increasing levels of household debt in recent years, the number of households that may be vulnerable to a negative economic shock is rising as well. Decisions made by both the debtor and the creditor can contribute to insolvency. This article presents some stylized facts about insolvency in Canada’s household sector and analyzes the role of creditors in insolvencies. The average debt of an individual filing for bankruptcy is more than 1.5 times that of an average Canadian household; bankruptcy filers tend to be unemployed or in low-wage jobs, and are typically renters. The article reports that banks that approve more loans per branch, which is interpreted as less-intensive use of soft information (such as the loan officer’s assessment of the applicant’s character), experience more client bankruptcies. This finding has important policy implications, because financial institutions that do not use soft information risk further deterioration in their lending portfolios.2012-02-23T10:00:21+00:00enHousehold Insolvency in Canada2012-02-23Price Competition and Concentration in Search and Negotiation Markets: Evidence from Mortgage Lending
https://www.bankofcanada.ca/2012/02/working-paper-2012-4/
This paper examines the impact of bank consolidation on mortgage rates in order to evaluate the extent to which mortgage markets are competitive. Mortgage markets are decentralized and so rates are determined through a search and negotiation process.2012-02-08T11:43:33+00:00enPrice Competition and Concentration in Search and Negotiation Markets: Evidence from Mortgage Lending2012-02-08Financial institutionsFinancial servicesInterest ratesWorking Paper 2012-4https://www.bankofcanada.ca/wp-content/uploads/2012/02/wp2012-04.pdfPrice Competition and Concentration in Search and Negotiation Markets: Evidence from Mortgage LendingJason AllenRobert ClarkJean-François HoudeFebruary 2012GG2LL1