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Lai, Alexandra; Chande, Nikil; O'Connor, Sean - Bank of Canada - 2006

Payments systems are typically characterized by some degree of tiering, with upstream firms (clearing agents) providing settlement accounts to downstream institutions that wish to clear and settle payments indirectly in these systems (indirect clearers). Clearing agents provide their indirect...

Persistent link: https://www.econbiz.de/10005162530

Competition in banking : a review of the literature

Northcott, Carol Ann - 2004

Persistent link: https://www.econbiz.de/10002125854

The Economic Theory of Retail Pricing: A Survey

Secrieru, Oana - Bank of Canada - 2004

The types of contracts that arise in a typical vertical manufacturer–retailer relationship are more sophisticated than usually assumed in standard macroeconomic models. In addition to setting per-unit prices, manufacturers and retailers revert to non-linear pricing and non-price instruments....

Persistent link: https://www.econbiz.de/10005162396

Price Negotiation in Differentiated Products Markets: Evidence from the Canadian Mortgage Market

Allen, Jason; Clark, Robert; Houde, Jean-François - Bank of Canada - 2012

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...

Persistent link: https://www.econbiz.de/10010575509

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 …. Quality changes are capable of boosting as well as reducing profits, since quality differentiation softens price competition … equilibria at very low quality levels. I argue that this provides one explanation of how insurer competition drove quality down …

Persistent link: https://www.econbiz.de/10010762045

Cross-border mergers and hollowing-out

Secrieru, Oana - 2009

in a location-quantity competition model, where we allow for the possibility of hollowing-out of the target firm. We …

Persistent link: https://www.econbiz.de/10003933343

What To Do about Bilateral Credit Limits in the LVTS When a Closure Is Anticipated: Risk versus Liquidity Sharing among LVTS Participants

O'Connor, Sean; Caldwell, Greg - Bank of Canada - 2008

The authors examine the effect of a trade-off between shared credit risk and liquidity efficiency, among participants in Tranche 2 of the Large Value Transfer System (LVTS T2), on their decisions to leave open, or close, their bilateral credit limits (BCLs) to a participant at risk of imminent...

Persistent link: https://www.econbiz.de/10005808265

Competition in Banking: A Review of the Literature

Northcott, Carol Ann - Bank of Canada - 2004

competition on stability may be manageable through prudential regulation. Neither extreme (perfect competition nor monopoly) is … regulatory policies that promote competition, a well-developed financial system, the effects of branch networks, and the effect …

Persistent link: https://www.econbiz.de/10005808358

Cross-border Mergers and Hollowing-out

Secrieru, Oana; Vigneault, Marianne - Bank of Canada - 2009

in a location-quantity competition model, where we allow for the possibility of hollowing-out of the target firm. We …

Persistent link: https://www.econbiz.de/10008477212

Liquidity Efficiency and Distribution in the LVTS: Non-Neutrality of System Changes under Network Asymmetry

O'Connor, Sean; Chapman, James; Millar, Kirby - Bank of Canada - 2008

The authors consider the liquidity efficiency of Tranche 2 of the Large Value Transfer System (LVTS T2) by examining, through an empirical analysis, some plausible strategic reactions of individual participants to a systemwide shock to available liquidity in the system. The network structure of...

Persistent link: https://www.econbiz.de/10005536847