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This paper documents the extent of financial linkages between Canada and the United States and explores the impact of … changes in U.S. financial conditions on financial conditions and real economic activity in Canada. It shows that close to a … autoregressions establishes that a tightening in U.S. financial conditions has significant implications for real activity in Canada …
Persistent link: https://www.econbiz.de/10014401284
This paper studies changes in Canada''s monetary policy transmission, associated with the important changes in … transmission beginning in 1988, after changes in financial regulation initiated the process of financial disintermediation. Second …
Persistent link: https://www.econbiz.de/10014400524
Using data from the US, UK, Japan and Canada, this paper provides evidence on the benefits to an economy from …
Persistent link: https://www.econbiz.de/10014403532
-prime mortgage financing is in its infancy in Canada, and further development of that sector (while avoiding the excesses that beset …
Persistent link: https://www.econbiz.de/10014401481
The paper investigates how changes in industries'' funding costs affect total factor productivity (TFP) growth. Based on panel regressions using 31 U.S. and Canadian industries between 1991 and 2007, and using industries'' dependence on external funding as an identification mechanism, we show...
Persistent link: https://www.econbiz.de/10014404315
The paper discusses the limits to market-based risk transfer in the financial system and the implications for the management of systemic long-term financial risks. Financial instruments or markets to transfer and better manage these risks across institutions and sectors are, as yet, either...
Persistent link: https://www.econbiz.de/10014400372
This paper examines the relationship between financial regulation and the current account in an intertemporal model of … the current account where financial regulation affects the current account through liquidity constraints. Greater … tested with an interacted panel VAR model where the coefficients are allowed to vary with the degree of financial regulation …
Persistent link: https://www.econbiz.de/10014396600
Financial frictions have been identified as key factors affecting economic fluctuations and growth. But, can institutional reforms reduce financial frictions? Based on a canonical investment model, we consider two potential channels: (i) financial transaction costs at the firm level; and (ii)...
Persistent link: https://www.econbiz.de/10014397491
Volatility in financial markets has forced economists to reexamine the validity of the efficient markets hypothesis, and new empirical approaches have been applied to the study of this important issue in recent years. Many of the recent studies have found evidence of excessive volatility. In the...
Persistent link: https://www.econbiz.de/10014395913
effectiveness may moderate in graying societies. It then uses Bayesian estimation techniques for the U.S., Canada, Japan, U.K., and …
Persistent link: https://www.econbiz.de/10012667511