D8 - Information, Knowledge, and Uncertainty - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T11:34:32+00:00Competing Currencies in the Laboratory
https://www.bankofcanada.ca/2017/12/staff-working-paper-2017-53/
We investigate competition between two intrinsically worthless currencies as a result of decentralized interactions between human subjects. We design a laboratory experiment based on a simple two-country, two-currency search model to study factors that affect circulation patterns and equilibrium selection.2017-12-07T15:35:11+00:00enCompeting Currencies in the Laboratory2017-12-07Central bank researchDigital currencies and fintechStaff Working Paper 2017-53https://www.bankofcanada.ca/wp-content/uploads/2017/12/swp2017-53.pdfCompeting Currencies in the LaboratoryJanet Hua JiangCathy ZhangDecember 2017CC9C92DD8D83EE4E40On the Tail Risk Premium in the Oil Market
https://www.bankofcanada.ca/2017/11/staff-working-paper-2017-46/
This paper shows that changes in market participants’ fear of rare events implied by crude oil options contribute to oil price volatility and oil return predictability. Using 25 years of historical data, we document economically large tail risk premia that vary substantially over time and significantly forecast crude oil futures and spot returns.2017-11-20T07:47:32+00:00enOn the Tail Risk Premium in the Oil Market2017-11-20Asset pricingEconometric and statistical methodsFinancial marketsStaff Working Paper 2017-46https://www.bankofcanada.ca/wp-content/uploads/2017/11/swp2017-46.pdfOn the Tail Risk Premium in the Oil MarketReinhard EllwangerNovember 2017CC5C53C58DD8D84EE4E44GG1G12G13QQ4Q43Retrieving Implied Financial Networks from Bank Balance-Sheet and Market Data
https://www.bankofcanada.ca/2017/07/staff-working-paper-2017-30/
In complex and interconnected banking systems, counterparty risk does not depend only on the risk of the immediate counterparty but also on the risk of others in the network of exposures.2017-07-24T09:57:51+00:00enRetrieving Implied Financial Networks from Bank Balance-Sheet and Market Data2017-07-24Financial institutionsFinancial stabilityStaff Working Paper 2017-30https://www.bankofcanada.ca/wp-content/uploads/2017/07/swp2017-30.pdfRetrieving Implied Financial Networks from Bank Balance- Sheet and Market DataJose FiqueJuly 2017CC6C63DD8D85GG2G21Why Is Global Business Investment So Weak? Some Insights from Advanced Economies
https://www.bankofcanada.ca/wp-content/uploads/2017/05/boc-review-spring17-fay.pdf
Various drivers of business investment can be used to explain the underwhelming performance of investment in advanced economies since the global financial crisis, particularly since 2014. The slow growth in aggregate demand cannot by itself explain the full extent of the recent weakness in investment, which appears to be linked primarily to the collapse of global commodity prices and a rise in economic uncertainty. Looking ahead, business investment growth is likely to remain slower than in the pre-crisis period, largely because of structural factors such as population aging.2017-05-11T10:26:31+00:00enWhy Is Global Business Investment So Weak? Some Insights from Advanced Economies2017-05-11Constrained Efficiency with Adverse Selection and Directed Search
https://www.bankofcanada.ca/2017/04/staff-working-paper-2017-15/
Constrained efficient allocation (CE) is characterized in a model of adverse selection and directed search (Guerrieri, Shimer, and Wright (2010)). CE is defined to be the allocation that maximizes welfare, the ex-ante utility of all agents, subject to the frictions of the environment.2017-04-20T13:21:02+00:00enConstrained Efficiency with Adverse Selection and Directed Search2017-04-20Economic modelsFinancial marketsFinancial system regulation and policiesMarket structure and pricingStaff Working Paper 2017-15https://www.bankofcanada.ca/wp-content/uploads/2017/04/swp2017-15.pdfConstrained Efficiency with Adverse Selection and Directed SearchMohammad DavoodalhosseiniApril 2017DD8D82D83EE2E24GG1JJ3J31J6J64