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31 Results

Ten Isn’t Large! Group Size and Coordination in a Large-Scale Experiment

Economic activities typically involve coordination among a large number of agents. These agents have to anticipate what other agents think before making their own decisions.
Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Financial stability JEL Code(s): C, C9, C92, D, D8, D83, D9, D90, G, G2, G20

Trading for Bailouts

Staff Working Paper 2020-23 Toni Ahnert, Caio Machado, Ana Elisa Pereira
In times of high uncertainty, governments often implement interventions such as bailouts to financial institutions. To use public resources efficiently and to avoid major spillovers to the rest of the economy, policy-makers try to identify which institutions should receive assistance.

Optimal Taxation in Asset Markets with Adverse Selection

Staff Working Paper 2020-11 Mohammad Davoodalhosseini
What is the optimal tax schedule in over-the-counter markets, e.g., those for corporate bonds? I find that an optimal tax schedule is often non-monotonic. For example, trading of some high-price assets should be subsidized, and trading of some low-price assets should be taxed.

Identifying Consumer-Welfare Changes when Online Search Platforms Change Their List of Search Results

Staff Working Paper 2020-5 Ryan Martin
Online shopping is often guided by search platforms. Consumers type keywords into query boxes, and search platforms deliver a list of products. Consumers' attention is limited, and exhaustive searches are often impractical.

Readability and the Bank of Canada

Staff Analytical Note 2018-20 Alexandre Deslongchamps
In this note, I assess the readability of Bank of Canada publications using a formula commonly used for this type of evaluation. I find that Bank publications are more difficult to read than the media articles and other content our target audiences likely consume. This suggests that more simple writing can help the Bank better meet its communication objectives.

Adverse Selection with Heterogeneously Informed Agents

Staff Working Paper 2018-7 Mohammad Davoodalhosseini
A model of over-the-counter markets is proposed. Some asset buyers are informed in that they can identify high quality assets. Heterogeneous sellers with private information choose what type of buyers they want to trade with.
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