Market structure and pricing - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T15:19:32+00:00Foreign Exchange Fixings and Returns Around the Clock
https://www.bankofcanada.ca/2021/10/staff-working-paper-2021-48/
We document a new empirical finding in the foreign exchange market: currency returns show systematic reversals around the benchmark fixings. Specifically, the US dollar, on average, appreciates in the hours before fixes and depreciates after fixes.2021-10-06T09:37:49+00:00enForeign Exchange Fixings and Returns Around the Clock2021-10-06Exchange ratesFinancial marketsMarket structure and pricingStaff Working Paper 2021-48https://www.bankofcanada.ca/wp-content/uploads/2021/10/swp2021-48.pdfForeign Exchange Fixings and Returns Around the ClockIngomar KrohnPhilippe MuellerPaul WhelanOctober 2021FF3F31GG1G15Rising US LNG Exports and Global Natural Gas Price Convergence
https://www.bankofcanada.ca/2021/09/staff-discussion-paper-2021-14/
We assess how rising exports of US liquefied natural gas affect the convergence of natural gas prices worldwide. Our results may have implications for the development of future LNG export capacity in Canada.2021-09-10T11:29:41+00:00enRising US LNG Exports and Global Natural Gas Price Convergence2021-09-10International topicsMarket structure and pricingStaff Discussion Paper 2021-14https://www.bankofcanada.ca/wp-content/uploads/2021/09/sdp2021-14.pdfRising US LNG Exports and Global Natural Gas Price ConvergenceRobert IalentiSeptember 2021CC3C32FF1F15KK4K41LL9L95Centralizing Over-the-Counter Markets?
https://www.bankofcanada.ca/2021/08/staff-working-paper-2021-39/
Would a shift in trading in fixed-income markets—from over the counter (bilateral trading) to a centralized electronic platform—improve welfare? We use trade-level data on the secondary market for Government of Canada debt to answer this question.2021-08-12T15:49:14+00:00enCentralizing Over-the-Counter Markets?2021-08-12Financial institutionsMarket structure and pricingStaff Working Paper 2021-39https://www.bankofcanada.ca/wp-content/uploads/2021/08/swp2021-39.pdfCentralizing Over-the-Counter Markets?Jason AllenMilena WittwerAugust 2021DD4D40D47GG1G10G2G20LL1L10The Effects of Government Licensing on E-commerce: Evidence from Alibaba
https://www.bankofcanada.ca/2021/07/staff-working-paper-2021-32/
How does government licensing affect selling on online platforms? We examine the impact of China’s 2015 Food Safety Law on sellers and buyers on Alibaba, the largest e-commerce platform in that country.2021-07-05T08:42:01+00:00enThe Effects of Government Licensing on E-commerce: Evidence from Alibaba2021-07-05Market structure and pricingRecent economic and financial developmentsStaff Working Paper 2021-32https://www.bankofcanada.ca/wp-content/uploads/2021/07/swp2021-32.pdfThe Effects of Government Licensing on E-commerce: Evidence from AlibabaGinger Zhe JinZhentong LuXiaolu ZhouChunxiao LiJuly 2021DD8D82KK2K23LL5L8L81Examining the Impact of Home Purchase Restrictions on China’s Housing Market
https://www.bankofcanada.ca/2021/04/staff-working-paper-2021-18/
How do “cooling measures” in the housing market—policies aimed to stabilize prices—affect the market? We use a structural model of housing demand and price competition among developers to evaluate China’s home purchase restriction policies implemented in 2010–11.2021-04-07T12:30:51+00:00enExamining the Impact of Home Purchase Restrictions on China’s Housing Market2021-04-07HousingMarket structure and pricingStaff Working Paper 2021-18https://www.bankofcanada.ca/wp-content/uploads/2021/04/swp2021-18.pdfExamining the Impact of Home Purchase Restrictions on China’s Housing MarketZhentong LuSisi ZhangJian HongApril 2021OO1O18RR3R31R38Trade and Market Power in Product and Labor Markets
https://www.bankofcanada.ca/2021/04/staff-working-paper-2021-17/
Trade liberalizations increase the sales and input purchases of productive firms relative to their less productive domestic competitors. This reallocation affects firms’ market power in their product and input markets. I quantify how the labour market power of employers affects the distribution and size of the gains from trade.2021-04-07T11:15:08+00:00enTrade and Market Power in Product and Labor Markets2021-04-07Economic modelsLabour marketsMarket structure and pricingProductivityTrade integrationStaff Working Paper 2021-17https://www.bankofcanada.ca/wp-content/uploads/2021/04/swp2021-17.pdfStaff Working Paper 2021-17Gaelan MacKenzieApril 2021DD4D43FF1F12F6JLL1L13Market Concentration and Uniform Pricing: Evidence from Bank Mergers
https://www.bankofcanada.ca/2021/02/staff-working-paper-2021-9/
We show that US banks price deposits almost uniformly across their branches and that this pricing practice is more important than increases in local market concentration in explaining the deposit rate dynamics following bank mergers.2021-02-16T11:09:14+00:00enMarket Concentration and Uniform Pricing: Evidence from Bank Mergers2021-02-16Financial institutionsFinancial system regulation and policiesMarket structure and pricingStaff Working Paper 2021-9https://www.bankofcanada.ca/wp-content/uploads/2021/02/swp2021-9.pdfStaff Working Paper 2021-9João GranjaNuno PaixaoFebruary 2021DD4GG2G20G21G28G3G34LL1L11Distributional Effects of Payment Card Pricing and Merchant Cost Pass-through in Canada and the United States
https://www.bankofcanada.ca/2021/02/staff-working-paper-2021-8/
Although credit cards are more expensive for merchants to accept than cash or debit cards, merchants typically pass through their costs evenly to all customers. Along with consumer card rewards and banking fees, this creates cross-subsidies between payment methods. Because higher-income individuals tend to use credit cards more than those with lower incomes, our results indicate that these cross-subsidies might lead to regressive distributional effects.2021-02-05T10:29:38+00:00enDistributional Effects of Payment Card Pricing and Merchant Cost Pass-through in Canada and the United States2021-02-05Bank notesFinancial institutionsFinancial servicesMarket structure and pricingPayment clearing and settlement systemsStaff Working Paper 2021-8https://www.bankofcanada.ca/wp-content/uploads/2021/02/swp2021-8.pdfDistributional Effects of Payment Card Pricing and Merchant Cost Pass-through in Canada and the United StatesMarie-Hélène FeltFumiko HayashiJoanna StavinsAngelika WelteFebruary 2021DD1D12D2D23D3D31EE4E42GG2G21LL8L81