G - Financial Economics
-
-
Banking Crises and Contagion: Empirical Evidence
Recent events, such as the East Asian, Mexican, Scandinavian, and Argentinian crises, have sparked considerable interest in exploring how shocks experienced by one country can spread vis-à-vis real and nominal links to other countries' banking systems. Given the large costs associated with banking-system failures, both economists and policy-makers are interested in predicting the onset of banking crises and assessing the likelihood of contagion during crisis events. -
Estimating Settlement Risk and the Potential for Contagion in Canada's Automated Clearing Settlement System
Payments systems operate virtually unnoticed in our daily lives and yet are crucial to a wellfunctioning economy and financial system. -
The Impact of Common Currencies on Financial Markets: A Literature Review and Evidence from the Euro Area
This paper reviews both the theoretical and empirical literature on the impact of common currencies on financial markets and evaluates the first three years of experience with Economic and Monetary Union (EMU). -
How Do Canadian Banks That Deal in Foreign Exchange Hedge Their Exposure to Risk?
This paper examines the daily hedging and risk-management practices of financial intermediaries in the Canadian foreign exchange (FX) market. -
Alternative Trading Systems: Does One Shoe Fit All?
This paper examines the factors that lead liquidity-motivated investors to choose the type of market structure they prefer. -
Exponentials, Polynomials, and Fourier Series: More Yield Curve Modelling at the Bank of Canada
This paper continues the work started by Bolder and Stréliski (1999) and considers two alternative classes of models for extracting zero-coupon and forward rates from a set of observed Government of Canada bond and treasury-bill prices. -
Financial Structure and Economic Growth: A Non-Technical Survey
There is a large body of literature that studies the relationship between financial structure (that is, the degree to which the financial system is either market- or intermediary-based) and long-run economic growth. -
The Financial Services Sector: An Update on Recent Developments
The Canadian financial industry continues to experience significant changes. This report provides an update on recent developments and re-examines a number of issues facing financial service providers that were identified in Technical Report No. 82. -
A Market Microstructure Analysis of Foreign Exchange Intervention in Canada
This paper clarifies the role and the impact of foreign exchange dealers in the relationship between foreign exchange intervention and nominal exchange rates using a unique dataset that disaggregates trades by dealer and by type of trade.