Jean-François Houde - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T11:13:30+00:00The Role of Intermediaries in Selection Markets: Evidence from Mortgage Lending
https://www.bankofcanada.ca/2023/02/staff-working-paper-2023-12/
This paper looks at the role mortgage brokers play in helping borrowers generate quotes and qualify for credit. We find that, on average, borrowers that engage with a mortgage broker pay lower interest rates. However, in about 15% of cases, borrowers are steered towards longer amortizing mortgages than they would have chosen absent a broker. Since mortgages with longer amortization have higher total interest costs over the entire life of the mortgage, this steering is expensive.2023-02-14T11:09:22+00:00enThe Role of Intermediaries in Selection Markets: Evidence from Mortgage Lending2023-02-14Financial institutionsFinancial servicesMarket structure and pricingStaff Working Paper 2023-12https://www.bankofcanada.ca/wp-content/uploads/2023/02/swp2023-12.pdfStaff Working Paper 2023-12Jason AllenRobert ClarkJean-François HoudeShaoteng LiAnna TrubnikovaFebruary 2023DD4GG2G21LL2Price Negotiation in Differentiated Products Markets: Evidence from the Canadian Mortgage Market
https://www.bankofcanada.ca/2012/09/working-paper-2012-30/
This paper measures market power in a decentralized market where contracts are determined through a search and negotiation process. The mortgage industry has many institutional features which suggest competitiveness: homogeneous contracts, negotiable rates, and, for a given consumer, common lending costs across lenders.2012-09-28T09:20:40+00:00enPrice Negotiation in Differentiated Products Markets: Evidence from the Canadian Mortgage Market2012-09-28Financial institutionsFinancial servicesMarket structure and pricingWorking Paper 2012-30https://www.bankofcanada.ca/wp-content/uploads/2012/09/wp2012-30.pdfPrice Negotiation in Differentiated Products Markets: Evidence from the Canadian Mortgage MarketJason AllenRobert ClarkJean-François HoudeAugust 2012DD4GG2G21LL2L22Price Competition and Concentration in Search and Negotiation Markets: Evidence from Mortgage Lending
https://www.bankofcanada.ca/2012/02/working-paper-2012-4/
This 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.2012-02-08T11:43:33+00:00enPrice Competition and Concentration in Search and Negotiation Markets: Evidence from Mortgage Lending2012-02-08Financial institutionsFinancial servicesInterest ratesWorking Paper 2012-4https://www.bankofcanada.ca/wp-content/uploads/2012/02/wp2012-04.pdfPrice Competition and Concentration in Search and Negotiation Markets: Evidence from Mortgage LendingJason AllenRobert ClarkJean-François HoudeFebruary 2012GG2LL1Discounting in Mortgage Markets
https://www.bankofcanada.ca/2011/02/working-paper-2011-3/
This paper studies discounting in mortgage markets. Using transaction-level data on Canadian mortgages, we document that over time there's been an increase in the average discount, along with substantial dispersion.2011-02-04T09:42:55+00:00enDiscounting in Mortgage Markets2011-02-04Financial institutionsFinancial servicesWorking Paper 2011-3https://www.bankofcanada.ca/wp-content/uploads/2011/02/wp11-3.pdfDiscounting in Mortgage MarketsJason AllenRobert ClarkJean-François HoudeFebruary 2011DD4GG2G21LL0Market Structure and the Diffusion of E-Commerce: Evidence from the Retail Banking Industry
https://www.bankofcanada.ca/2008/09/working-paper-2008-32/
This paper studies the role that market structure plays in affecting the diffusion of electronic banking. Electronic banking (and electronic commerce more generally) reduces the cost of performing many types of transactions for firms.2008-09-18T12:58:21+00:00enMarket Structure and the Diffusion of E-Commerce: Evidence from the Retail Banking Industry2008-09-18Financial institutionsMarket structure and pricingWorking Paper 2008-32 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-32.pdfMarket Structure and the Diffusion of E-Commerce: Evidence from the Retail Banking IndustryJason AllenRobert ClarkJean-François HoudeSeptember 2008DD1D14D4GG2G21LL1