Jason Allen is a Senior Research Officer in the Economic and Financial Research Department at the Bank of Canada. He is an applied microeconomist whose primary research interests center on the household sector and the role that competition in retail banking plays in shaping credit outcomes. Specific topics include price competition in the mortgage market and bankruptcy choice. Jason Allen received his PhD in economics from Queen’s University.
Staff Discussion Papers
Staff Working Papers
Price Competition and Concentration in Search and Negotiation Markets: Evidence from Mortgage LendingThis paper examines the impact of bank consolidation on mortgage rates in order to evaluate the extent to which mortgage markets are competitive. Mortgage markets are decentralized and so rates are determined through a search and negotiation process.
- “Crisis Management in Canada: Analyzing Default Risk and Liquidity Demand during Financial Stress”, (with Alil Hortacsu and Jakub Kastl), Forthcoming AEJ: micro.
- “Variable pay: is it for the worker or the firm?”
(with James Thompson), Journal of Corporate Finance, October 2019, volume 58, p. 551-566.
- "Investment dealer collateral and leverage procyclicality",
(with Andrew Usher), Empirical Economics, 2020, 58(2), p. 489-505.
- "Search Frictions and Market Power in Negotiated Price Markets",
(with Robert Clark and Jean-Francois Houde). Journal of Political Economy, 2019, 127(4), p. 1550-1598.
- "The impact of bankruptcy reform on consumer insolvency choice"
(with Kiana Basiri), Canadian Public Policy, Volume 44 (2), p. 100-111.
- "The Impact of Macroprudential Housing Finance Tools in Canada"
(with Tim Grieder, Brian Peterson, and Tom Roberts), Journal of Financial Intermediation.
- "Consumer Bankruptcy, Bank Mergers, and Information"
(with Evren Damar and David Martinez-Miera), Review of Finance, July 2016, Volume 20, Issue 4, p. 1289-1320.
- "Bank Loans for Private and Public Firms in a Liquidity Crunch”
(with Teodora Paligorova), Journal of Financial Stability, vol. 18 (June), p. 106-116.
- "Efficiency and Bargaining Power in the Interbank Loan Market”
(with James Chapman, Federico Echenique and Matthew Shum), International Economic Review, May 2016, vol. 57(2), p. 691-716.
- "The Effect of Mergers in Search Markets: Evidence from the Canadian Mortgage Industry",
(with Robert Clark and Jean-Francois Houde). American Economic Review, 2014, 104(10), p. 3365-3396.
- "Price Dispersion in Mortgage Markets"
(with Robert Clark and Jean-Francois Houde). Journal of Industrial Economics, 2014, 62(3), p. 377-416.
- "Empirical Likelihood Block Bootstrapping,"
(with Allan W. Gregory and Katsumi Shimotsu), Journal of Econometrics, 2011, 161(2), p. 110-121.
- "Canadian City Housing Prices and Urban Market Segmentation,"
(with Robert Amano, David P. Byrne, and Allan W. Gregory). Canadian Journal of Economics, vol. 42(3), p. 1132-1149, 2009.
- "Size Matters: Covariance Matrix Estimation under the Alternative,"
The Econometrics Journal vol. 10(1), p. 637-644, 2007.
- "Efficiency and Economies of Scale of Large Canadian Banks,"
(with Ying Liu), Canadian Journal of Economics vol. 40(1), p. 225-244, 2007.
Work in progress
- “Identifying dependencies in the demand for government securities”
(with Jakub Kastl and Milena Wittwer)
- "Macroprudential Housing Policies and Borrowing Constraints"
(with Robert Clark and Jean-Francois Houde).