Adi Mordel is a Principal Economist in the Financial Stability Department at the Bank of Canada. His current research centers on the link between financial distress and the real economy, with a particular interest on household lending and consumption. Other research focuses on the effects of public guarantees and incentive alignment in shadow banking activities. Adi Mordel received his PhD in Finance from Drexel University.
Staff Analytical Notes
Staff Discussion Papers
Staff Working Papers
Flight from Safety: How a Change to the Deposit Insurance Limit Affects Households’ Portfolio AllocationDeposit insurance protects depositors from failing banks, thus making insured deposits risk-free. When a deposit insurance limit is increased, some deposits that previously were uninsured become insured, thereby increasing the share of risk-free assets in households’ portfolios. This increase cannot simply be undone by households, because to invest in uninsured deposits, a household must first invest in insured deposits up to the limit. This basic insight is the starting point of the analysis in this paper.
Financial System Review Article
- " Banks' Funding Stress, Lending Supply and Consumption Expenditure"
(with Evren Damar and Reint Gropp). Journal of Money, Credit and Banking. forthcoming
- “Asset Sales, Recourse, and Investor Reactions to Initial Securitizations: Evidence why Off-balance Sheet Accounting Treatment does not Remove On-balance Sheet Financial Risk”
((with Eric Higgins and Joseph Mason). Journal of Risk Finance. forthcoming
- "International Banking and Cross-Border Effects of Regulation: Lessons from Canada"
(with Evren Damar). March 2017. International Journal of Central Banking, vol. 13(2), pages 35-64.
- "The Ex Ante versus Ex Post Effect of Public Guarantees"
(with Evren Damar and Reint Gropp), 2013. in: The Role of Central Banks in Financial Stability: How Has It Changed? Chapter 18, pages 347-364. World Scientific Publishing Co. Pte. Ltd.