Staff analytical notes - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T13:57:14+00:00Have Liquidity and Trading Activity in the Canadian Corporate Bond Market Deteriorated?
https://www.bankofcanada.ca/2018/09/staff-analytical-note-2018-31/
Since 2010, the liquidity of corporate bonds has improved on average, while their trading activity has remained stable. We find that the liquidity and trading activity of riskier bonds or bonds issued by firms in different sectors have been stable. However, the liquidity and trading activity of bonds issued by banks have improved. We observe short-lived episodes of deterioration in liquidity and trading activity.2018-09-21T12:00:07+00:00enHave Liquidity and Trading Activity in the Canadian Corporate Bond Market Deteriorated?2018-09-21Have Liquidity and Trading Activity in the Canadian Provincial Bond Market Deteriorated?
https://www.bankofcanada.ca/2018/09/staff-analytical-note-2018-30/
In recent years, the liquidity in the secondary market for Canadian provincial bonds was a concern for many market participants. We find that a proxy for the bid-ask spread has deteriorated modestly since 2010. However, a proxy for price impact as well as measures of trade size, the number of trades and turnover have been stable or improved since 2010. This holds for bonds issued by different provinces and for bonds of different ages and sizes. Alberta bonds provide an interesting case study: After the fall in oil prices in 2014–15, the province increased its borrowing in the bond market and its credit rating was downgraded. Yet trading activity for Alberta bonds increased significantly. Overall, we interpret the evidence as a sign of resilience in the provincial bond market.2018-09-18T11:40:35+00:00enHave Liquidity and Trading Activity in the Canadian Provincial Bond Market Deteriorated?2018-09-18Estimating the Impacts of Tariff Changes: Two Illustrative Scenarios
https://www.bankofcanada.ca/2018/09/staff-analytical-note-2018-29/
We build upon new developments in the international trade literature to construct a quantitative Ricardian framework similar to Caliendo and Parro (2015) to isolate and estimate the long-run economic impacts of tariff changes.2018-09-05T14:41:24+00:00enEstimating the Impacts of Tariff Changes: Two Illustrative Scenarios2018-09-05