L1 - Market Structure, Firm Strategy, and Market Performance - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T08:19:30+00:00On Causal Networks of Financial Firms: Structural Identification via Non-parametric Heteroskedasticity
https://www.bankofcanada.ca/2020/10/staff-working-paper-2020-42/
Banks’ business interactions create a network of relationships that are hidden in the correlations of bank stock returns. But for policy interventions, we need causality to understand how the network changes. Thus, this paper looks for the causal network anticipated by investors.2020-10-16T09:25:08+00:00enOn Causal Networks of Financial Firms: Structural Identification via Non-parametric Heteroskedasticity2020-10-16Econometric and statistical methodsFinancial marketsFinancial stabilityStaff Working Paper 2020-42https://www.bankofcanada.ca/wp-content/uploads/2020/10/swp2020-42.pdfOn Causal Networks of Financial Firms: Structural Identification via Non-parametric HeteroskedasticityRuben HippOctober 2020CC1C3C32C5C58LL1L14Non-competing Data Intermediaries
https://www.bankofcanada.ca/2020/07/staff-working-paper-2020-28/
I study a model of competing data intermediaries (e.g., online platforms and data brokers) that collect personal data from consumers and sell it to downstream firms.2020-07-06T14:49:29+00:00enNon-competing Data Intermediaries2020-07-06Economic modelsStaff Working Paper 2020-28https://www.bankofcanada.ca/wp-content/uploads/2020/07/swp2020-28.pdfStaff Working Paper 2020-28Shota IchihashiJuly 2020DD4D42D43D8D80LL1L12Why Fixed Costs Matter for Proof-of-Work Based Cryptocurrencies
https://www.bankofcanada.ca/2020/07/staff-working-paper-2020-27/
Can Bitcoin survive? Some say it will become vulnerable to attacks as the rewards for processing Bitcoin transactions continue to decline. The economics of fixed costs suggest the specialized hardware used to mine Bitcoin may be key to its survival.2020-07-06T14:15:40+00:00enWhy Fixed Costs Matter for Proof-of-Work Based Cryptocurrencies2020-07-06Digital currencies and fintechPayment clearing and settlement systemsStaff Working Paper 2020-27https://www.bankofcanada.ca/wp-content/uploads/2020/07/swp2020-27.pdfStaff Working Paper 2020-27Rodney J. GarrattMaarten van OordtJuly 2020GG1G10LL1L11Trading on Long-term Information
https://www.bankofcanada.ca/2020/06/staff-working-paper-2020-20/
Investors who trade based on good research are said to be the backbone of stock markets: They conduct research to discover the value of stocks and, through their trading, guide financial prices to reflect true value. What can make their job difficult is that high-speed, short-term traders could use machine learning and other technologies to infer when informed investors are trading.2020-06-05T13:35:33+00:00enTrading on Long-term Information2020-06-05Financial institutionsFinancial marketsMarket structure and pricingStaff Discussion Paper 2020-20https://www.bankofcanada.ca/wp-content/uploads/2020/06/swp2020-20.pdfStaff Discussion Paper 2020-20Corey GarriottRyan RiordanJune 2020GG1G14G2G20LL1Multi-Product Pricing: Theory and Evidence from Large Retailers in Israel
https://www.bankofcanada.ca/2020/04/staff-working-paper-2020-12/
Standard theories of price adjustment are based on the problem of a single-product firm, and therefore they may not be well suited to analyze price dynamics in the economy with multiproduct firms.2020-04-15T13:32:45+00:00enMulti-Product Pricing: Theory and Evidence from Large Retailers in Israel2020-04-15Inflation and pricesMarket structure and pricingMonetary policyStaff Working Paper 2020-12https://www.bankofcanada.ca/wp-content/uploads/2020/04/swp2020-12.pdfMulti-Product Pricing: Theory and Evidence from Large Retailers in IsraelMarco BonomoCarlos CarvalhoOleksiy KryvtsovSigal RibonRodolfo RigatoApril 2020DD2D21D22EE3E31E5E52LL1L11Welfare Analysis of Equilibria With and Without Early Termination Fees in the US Wireless Industry
https://www.bankofcanada.ca/2020/03/staff-working-paper-2020-9/
The elimination of long-term contracts and early termination fees (ETFs) in the US wireless industry at the end of 2015 increased monthly service fees by 2 to 5 percent. Nevertheless, consumers are clearly better off without ETFs. While firms’ revenues from ETFs vanish, their profits from monthly fees increase. As a result, the overall effect on producer profits is less clear.2020-03-25T09:23:00+00:00enWelfare Analysis of Equilibria With and Without Early Termination Fees in the US Wireless Industry2020-03-25Econometric and statistical methodsFirm dynamicsMarket structure and pricingStaff Working Paper 2020-9https://www.bankofcanada.ca/wp-content/uploads/2020/03/swp2020-9.pdfWelfare Analysis of Equilibria With and Without Early Termination Fees in the US Wireless IndustryJoseph CullenNicolas SchutzOleksandr ShcherbakovMarch 2020DD2D22LL1L15L9L96Demand for Payment Services and Consumer Welfare: The Introduction of a Central Bank Digital Currency
https://www.bankofcanada.ca/2020/03/staff-working-paper-2020-7/
Using a two-stage model, we study the determinants of Canadian consumers’ choices of payment method at the point of sale. We estimate consumer preferences and adoption costs for various combinations of payment methods. We analyze how introducing a central bank digital currency would affect the market equilibrium.2020-03-13T09:07:44+00:00enDemand for Payment Services and Consumer Welfare: The Introduction of a Central Bank Digital Currency2020-03-13Bank notesDigital currencies and fintechFinancial servicesStaff Working Paper 2020-7https://www.bankofcanada.ca/wp-content/uploads/2020/03/swp2020-7.pdfStaff Working Paper 2020-7Kim HuynhJozsef MolnarOleksandr ShcherbakovQinghui YuMarch 2020CC5C51EE4E42LL1L14L5L52A Spatial Model of Bank Branches in Canada
https://www.bankofcanada.ca/2020/02/staff-working-paper-2020-4/
Using data on bank branch locations across Canada from 2008 to 2018, we explore an interesting aspect of bank branch competition—geographic concentration. We find that bank branch density does not correlate with geographic and market concentration; however, we do find strong correlation with postal-code demographics.2020-02-06T11:57:14+00:00enA Spatial Model of Bank Branches in Canada2020-02-06Firm dynamicsMarket structure and pricingStaff Working Paper 2020-4https://www.bankofcanada.ca/wp-content/uploads/2020/02/swp2020-4.pdfA Spatial Model of Bank Branches in CanadaHeng ChenMatthew StrathearnFebruary 2020LL1RR3Contagion in Dealer Networks
https://www.bankofcanada.ca/2020/01/staff-working-paper-2020-1/
Dealers connect investors who want to buy or sell securities in financial markets. Over time, dealers and investors form trading networks to save time and resources. An emerging field
of research investigates how networks form.2020-01-10T10:24:52+00:00enContagion in Dealer Networks2020-01-10Financial marketsMarket structure and pricingPayment clearing and settlement systemsStaff Working Paper 2020-1https://www.bankofcanada.ca/wp-content/uploads/2020/01/swp2020-1.pdfContagion in Dealer NetworksJean-Sébastien FontaineAdrian WaltonJanuary 2020EE4GG1G2G21LL1L14