ElasticSearch Score: 14.314885
We develop a discrete-time affine stochastic volatility model with time-varying conditional skewness (SVS). Importantly, we disentangle the dynamics of conditional volatility and conditional skewness in a coherent way.
ElasticSearch Score: 14.286061
October 21, 2004
The Canadian economy continues to adjust to major global developments.
ElasticSearch Score: 14.242625
April 24, 2008
Growth in the global economy began to slow in the fourth quarter of 2007 and the first quarter of 2008. This reflected the effects of the slowdown in the U.S. economy and ongoing dislocations in global financial markets.
ElasticSearch Score: 14.183938
May 19, 1999
Six months ago, at the time of the last Monetary Policy Report, the global economic and financial environment was volatile and highly uncertain because of the adverse situation in Asia and the fallout from the Russian debt moratorium.
ElasticSearch Score: 14.165078
This paper introduces and estimates a structural model of the Canadian primary market for government debt. We assess the role of dealer exit in this market as a key reason for increased, yet irregular, customer entry and quantify the benefits of greater customer competition against the costs of higher market volatility.
ElasticSearch Score: 14.103165
We assess how much the recent rate-hike cycle has and will affect mortgage borrowers' consumption through its impacts on mortgage payments. Our analysis provides insights into the effects of changes in monetary policy on the consumption of mortgage borrowers.
ElasticSearch Score: 14.081365
Should managers be paid in stock options if they provide stock-market participants with information about the firm? This paper studies how firm owners trade off the benefit of stock-price incentives and better-informed market participants against the cost of potential stock-price manipulation.
ElasticSearch Score: 14.001015
May 15, 1995
This is the first in a series of semi-annual reports by the Bank of Canada on Canadian monetary policy.
ElasticSearch Score: 13.963073
Counterfeiting is a significant public policy issue, because paper money, despite rumours of its demise, remains an important part of our payments system.
ElasticSearch Score: 13.942987
We develop a principal-agent model of cyber-attacking with fee-paying clients who delegate security decisions to financial platforms. We derive testable implications about clients’ vulnerability to cyber attacks and about the fees charged.