G30 - General - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T10:08:08+00:00Recent Evolution of Canada’s Credit-to-GDP Gap: Measurement and Interpretation
https://www.bankofcanada.ca/2017/12/staff-analytical-note-2017-25/
Over the past several years, the Bank for International Settlements has noted that Canada’s credit-to-GDP gap has widened and is above thresholds indicating future banking stress.2017-12-18T11:08:43+00:00enRecent Evolution of Canada’s Credit-to-GDP Gap: Measurement and Interpretation2017-12-18Managerial Compensation Duration and Stock Price Manipulation
https://www.bankofcanada.ca/2015/07/working-paper-2015-25/
I build a model of optimal managerial compensation where managers each have a privately observed propensity to manipulate short-term stock prices.2015-07-02T14:06:51+00:00enManagerial Compensation Duration and Stock Price Manipulation2015-07-02Economic modelsLabour marketsRecent economic and financial developmentsWorking Paper 2015-25https://www.bankofcanada.ca/wp-content/uploads/2015/07/wp2015-25.pdfManagerial Compensation Duration and Stock Price ManipulationJosef SchrothJuly 2015DD8D82GG1G14G3G30MM1M12Public/Private Transitions and Firm Financing
https://www.bankofcanada.ca/2013/10/working-paper-2013-36/
A large body of empirical literature investigates differences in financing structures across firms. Private firms’ financing receives little attention due to the lack of data.2013-10-03T16:23:47+00:00enPublic/Private Transitions and Firm Financing2013-10-03Credit and credit aggregatesFinancial marketsWorking Paper 2013-36https://www.bankofcanada.ca/wp-content/uploads/2013/10/wp2013-36.pdfPublic/Private Transitions and Firm FinancingKim HuynhTeodora PaligorovaRobert PetruniaOctober 2013GG3G30LL1L11Liquidity and Central Clearing: Evidence from the CDS Market
https://www.bankofcanada.ca/2012/12/working-paper-2012-38/
An international initiative to increase the use of central clearing for OTC derivatives emerged as one of the reactions to the 2008 financial crisis. The move to central clearing is a fundamental change in the structure of the market.2012-12-06T13:06:17+00:00enLiquidity and Central Clearing: Evidence from the CDS Market2012-12-06Financial marketsWorking Paper 2012-38https://www.bankofcanada.ca/wp-content/uploads/2012/12/wp2012-38.pdfLiquidity and Central Clearing: Evidence from the CDS MarketJoshua SliveJonathan WitmerElizabeth WoodmanDecember 2012GG3G30G38Market Timing of Long-Term Debt Issuance
https://www.bankofcanada.ca/2009/12/discussion-paper-2009-14/
The literature on market timing of long-term debt issuance yields mixed evidence that managers can successfully time their debt-maturity issuance. The early results that are indicative of debt-maturity timing are not robust to accounting for structural breaks or to other measures of debt maturity from firm-level data that account for call and put provisions in […]2009-12-01T11:46:50+00:00enMarket Timing of Long-Term Debt Issuance2009-12-01Financial marketsInternational topicsDiscussion Paper 2009-14https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp09-14.pdfMarket Timing of Long-Term Debt IssuanceJonathan WitmerDecember 2009GG3G30G38The Cost of Equity in Canada: An International Comparison
https://www.bankofcanada.ca/2008/07/working-paper-2008-21/
This paper calculates an implied cost of equity for 19 developed countries from 1991 to 2006. During this period, there has been a decline in the cost of equity of about 10-15 bps per year, which can be partially attributed to declining government yields and declining inflation.2008-07-06T09:45:26+00:00enThe Cost of Equity in Canada: An International Comparison2008-07-06Financial marketsInternational topicsWorking Paper 2008-21 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-21.pdfThe Cost of Equity in Canada: An International ComparisonJonathan WitmerJuly 2008GG3G30G38An Examination of Canadian Firms Delisting from U.S. Exchanges
https://www.bankofcanada.ca/2008/04/working-paper-2008-11/
This paper examines Canadian and other foreign firms that have been involuntarily delisted from major U.S. exchanges. I find that, for most countries, less than 10% of firms get delisted from a U.S. exchange during my sample period.2008-04-18T12:09:25+00:00enAn Examination of Canadian Firms Delisting from U.S. Exchanges2008-04-18Financial marketsInternational topicsWorking Paper 2008-11 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-11.pdfAn Examination of Canadian Firms Delisting from U.S. ExchangesJonathan WitmerApril 2008GG3G30G38Estimating and Comparing the Implied Cost of Equity for Canadian and U.S. Firms
https://www.bankofcanada.ca/2007/09/working-paper-2007-48/
This paper estimates the implied cost of equity for Canadian and U.S. firms using a methodology based on the dividend discount model and utilizing firms' current stock price and analysts' forecasted earnings.2007-09-01T12:36:01+00:00enEstimating and Comparing the Implied Cost of Equity for Canadian and U.S. Firms2007-09-01Financial marketsInternational topicsWorking Paper 2007-48 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-48.pdfEstimating and Comparing the Implied Cost of Equity for Canadian and U.S. FirmsJonathan WitmerLorie ZornSeptember 2007GG3G30G38The Inflation-adjusted Rate of Return on Corporate Debt and Equity: 1966-1980
https://www.bankofcanada.ca/1984/04/technical-report-no39/
This report has two main objectives: First, to determine whether the real tax rate on investment income has proven sensitive to inflation; second, to determine the extent to which real returns to debt and equity, based on published data, differ from those based on inflation-adjusted data. The scope of the inflationary distortion in corporate income […]1984-04-12T14:33:07+00:00enThe Inflation-adjusted Rate of Return on Corporate Debt and Equity: 1966-19801984-04-12Interest ratesStuart GilsonApril 1984EE3E31GG1G12G3G30