Benchmark Index of Risk Appetite Staff Working Paper 2006-16 Miroslav Misina Changes in investors' risk appetite have been used to explain a variety of phenomena in asset markets. Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Financial markets JEL Code(s): G, G1, G12
Order Submission: The Choice between Limit and Market Orders Staff Working Paper 2005-42 Ingrid Lo, Stephen Sapp Most financial markets allow investors to submit both limit and market orders, but it is not always clear what affects the choice of order type. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Financial institutions, Market structure and pricing JEL Code(s): D, D4, G, G1
An Empirical Analysis of Foreign Exchange Reserves in Emerging Asia Staff Working Paper 2005-38 Marc-André Gosselin, Nicolas Parent Over the past few years, the ability of the United States to finance its current account deficit has been facilitated by massive purchases of U.S. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Financial stability, International topics JEL Code(s): C, C2, C23, F, F3, F31, G, G1, G15
Uninsured Idiosyncratic Production Risk with Borrowing Constraints Staff Working Paper 2005-26 Francisco Covas The author analyzes a general-equilibrium model of a heterogeneous agents economy in which the agents are subject to borrowing constraints and uninsurable idiosyncratic production risk. Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Financial institutions, Financial markets JEL Code(s): E, E2, E22, G, G1, G11, M, M1, M13
A Search Model of Venture Capital, Entrepreneurship, and Unemployment Staff Working Paper 2005-24 Robin Boadway, Oana Secrieru, Marianne Vigneault The authors develop a search model of venture capital in which the number of successful matches of entrepreneurs and venture capitalists (VCs) at any moment in time is a function of the number of entrepreneurs searching for funds, the number of VCs searching for entrepreneurs, and the number of vacancies posted by each VC. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Fiscal policy, Labour markets JEL Code(s): D, D8, D82, G, G1, G18, G2, G24, H, H2, H21, J, J6, J64
Pocket Banks and Out-of-Pocket Losses: Links between Corruption and Contagion Staff Working Paper 2005-23 Raphael Solomon The author describes a model with a corrupt banking system, in which bankers knowingly lend at market interest rates to back projects riskier than the market rate indicates. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial stability JEL Code(s): D, D8, D82, G, G1, G19, G2, G21
The Effectiveness of Official Foreign Exchange Intervention in a Small Open Economy: The Case of the Canadian Dollar Staff Working Paper 2005-21 Rasmus Fatum, Michael R. King The Bank of Canada is one of very few central banks that has made records of the intraday timing of its intervention operations available to researchers. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Financial markets JEL Code(s): E, E5, E58, F, F3, F31, G, G1, G14, G15
Risk Perceptions and Attitudes Staff Working Paper 2005-17 Miroslav Misina Changes in risk perception have been used in various contexts to explain shorter-term developments in financial markets, as part of a mechanism that amplifies fluctuations in financial markets, as well as in accounts of "irrational exuberance." Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Financial markets JEL Code(s): D, D8, D81, D84, G, G1, G12
State Dependence in Fundamentals and Preferences Explains Risk-Aversion Puzzle Staff Working Paper 2005-9 Fousseni Chabi-Yo, René Garcia, Eric Renault The authors examine the ability of economic models with regime shifts to rationalize and explain the risk-aversion and pricing-kernel puzzles put forward in Jackwerth (2000). Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Market structure and pricing JEL Code(s): G, G1, G12, G13
Pre-Bid Run-Ups Ahead of Canadian Takeovers: How Big Is the Problem? Staff Working Paper 2005-3 Michael R. King, Maksym Padalko The authors study the price - volume dynamics ahead of the first public announcement of a takeover for 420 Canadian firms from 1985 to 2002. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): G, G1, G14, G18, G3, G34