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The Canadian Banking System
Freedman, C. - Bank of Canada - 1998
absence of ceilings on interest rates on deposits or, since 1967, on loans. …
Persistent link: https://www.econbiz.de/10005673243
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Financial Market Imperfection, Overinvestment,and Speculative Precaution
Calmès, Christian - Bank of Canada - 2004
The author uses panel data to assess the sensitivity of investment to cash flow in non-financial firms, taking into account the role their financial health plays in investment decisions. Firms are categorized using a method called the Z-score, a contemporaneous indicator of financial stress that...
Persistent link: https://www.econbiz.de/10005162394
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Uncertainty and the Specificity of Human Capital
Gervais, Martin; Livshits, Igor; Meh, Césaire - Bank of Canada - 2007
This paper studies the choice between general and specific human capital. A trade-off arises because general human capital, while less productive, can easily be reallocated across firms. Accordingly, the fraction of individuals with specific human capital depends on the amount of uncertainty in...
Persistent link: https://www.econbiz.de/10005162447
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Cross-border mergers and hollowing-out
Secrieru, Oana - 2009
The purpose of our paper is to examine the profitability and social desirability of both domestic and foreign mergers in a location-quantity competition model, where we allow for the possibility of hollowing-out of the target firm. We refer to hollowing-out as the situation where the target firm...
Persistent link: https://www.econbiz.de/10003933343
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Cross-border Mergers and Hollowing-out
Secrieru, Oana; Vigneault, Marianne - Bank of Canada - 2009
The purpose of our paper is to examine the profitability and social desirability of both domestic and foreign mergers in a location-quantity competition model, where we allow for the possibility of hollowing-out of the target firm. We refer to hollowing-out as the situation where the target firm...
Persistent link: https://www.econbiz.de/10008477212
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Uncertain Costs and Vertical Differentiation in an Insurance Duopoly
Raykov, Radoslav S. - Bank of Canada - 2014
Classical oligopoly models predict that firms differentiate vertically as a way of softening price competition, but some metrics suggest very little quality differentiation in the U.S. auto insurance market. I explain this phenomenon using the fact that risk-averse insurance companies with...
Persistent link: https://www.econbiz.de/10010762045
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Business Cycle Effects of Credit Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem; Xu, TengTeng - Bank of Canada - 2013
financial implications of such defaults for both households and banks. Results from a calibrated version of the model suggest …
Persistent link: https://www.econbiz.de/10010849962
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Canadian Bank Balance-Sheet Management: Breakdown by Types of Canadian Financial Institutions
Chen, David Xiao; Damar, H. Evren; Soubra, Hani; … - Bank of Canada - 2012
The authors document leverage, capital and liquidity ratios of banks in Canada. These ratios are important indicators … of different types of risk with respect to a bank’s balance-sheet management. Particular attention is given to the … observations by different types of banks, including small banks that historically received less attention. In addition, the authors …
Persistent link: https://www.econbiz.de/10010849976
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A Model of Tiered Settlement Networks
Chapman, James; Chiu, Jonathan; Molico, Miguel - Bank of Canada - 2008
This paper develops a model of settlement system to study the endogenous structure of settlement networks, and the welfare consequences of clearing agent failure. The equilibrium degree of tiering is endogenously determined by the cost structure and the information structure. The degree of...
Persistent link: https://www.econbiz.de/10005220954
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When Is It Less Costly for Risky Firms to Borrow? Evidence from the Bank Risk-Taking Channel of Monetary Policy
Paligorova, Teodora; Santos, João A. C. - Bank of Canada - 2012
In an investigation of banks’ loan pricing policies in the United States over the past two decades, this study finds … supporting evidence for the bank risk-taking channel of monetary policy. We show that banks charge lower spreads when they lend … compared to periods of high short-term rates. The interest discount that banks offer riskier borrowers when short-term rates …
Persistent link: https://www.econbiz.de/10009653926