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Financial intermediaries, markets, and growth
Fecht, Falko; Huang, Kevin - Econometric Society - 2004
studying an environment in which a trade-off between risk sharing and growth arises endogenously. Financial intermediaries …-sharing and growth. We show the balance of intermediaries and market that maximizes welfare depend on parameter values. …
Persistent link: https://www.econbiz.de/10005130194
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Emerging Financial Markets and Early U.S. Growth
Rousseau, Peter L.; Sylla, Richard - Vanderbilt University Department of Economics - 2000
Studies of early U.S. growth traditionally have emphasized real-sector explanations for an acceleration that by many … financing to businesses and governments as new technologies emerged, was central to the nation's early growth and modernization … hypothesis of "finance-led" growth in the U.S. case. By implication, the interest today in improving financial systems as a means …
Persistent link: https://www.econbiz.de/10005003887
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Adverse selection with heterogeneously informed agents
Davoodalhosseini, S. Mohammad R. - 2018
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. When the measure of informed buyers is low, there exists a unique and...
Persistent link: https://www.econbiz.de/10012014462
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Government of Canada fixed-income market ecology
Berger-Soucy, Léanne; Garriott, Corey; Usche, André - 2018
This discussion paper is the third in the Financial Markets Department's series on the structure of Canadian financial markets. These papers are called "ecologies" because they study the interactions among market participants, infrastructures, regulations and the terms of the traded contract...
Persistent link: https://www.econbiz.de/10012029823
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Understanding the systemic implications of climate transition risk: Applying a framework using Canadian financial system data
Bruneau, Gabriel; Ojea-Ferreiro, Javier; Plummer, Andrew; … - 2023
Our study aims to gain insight on financial stability and climate transition risk. We develop a methodological framework that captures the direct effects of a stressful climate transition shock as well as the indirect - or systemic - implications of these direct effects. We apply this framework...
Persistent link: https://www.econbiz.de/10014541754
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Central bank crisis interventions: A review of the recent literature on potential costs
Aldridge, Patrick; Cimon, David A.; Vala, Rishi - 2023
Central banks may engage in large-scale lending and asset purchases to stabilize financial markets and implement monetary policy during crises. The ability of these actions to restore financial market functioning is well documented; however, they come with costs. We provide a literature review of...
Persistent link: https://www.econbiz.de/10014541787
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Systemic risk and portfolio diversification: Evidence from the futures market
Raykov, Radoslav - 2021
This paper explores the extent to which correlated investments in the futures market concentrated systemic risk on large Canadian banks around the 2008 crisis. We find that core banks took positions against the periphery, increasing their systemic risk as a group. On the portfolio level,...
Persistent link: https://www.econbiz.de/10012705295
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Systemic risk and collateral adequacy: Evidence from the great crisis
Raykov, Radoslav - 2019
Conventional collateral requirements are highly conservative but are not explicitly designed to deal with systemic risk. This paper explores the adequacy of conventional collateral levels against systemic risk in the Canadian futures market during the 2008 crisis. Our results show that...
Persistent link: https://www.econbiz.de/10012144753
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Systemic risk and portfolio diversification : evidence from the futures market
Raykov, Radoslav - 2021 - Last updated: October 13, 2021
This paper explores the extent to which correlated investments in the futures market concentrated systemic risk on large Canadian banks around the 2008 crisis. We find that core banks took positions against the periphery, increasing their systemic risk as a group. On the portfolio level,...
Persistent link: https://www.econbiz.de/10012650208
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Systemic risk and collateral adequacy : evidence from the great crisis
Raykov, Radoslav - 2019
Conventional collateral requirements are highly conservative but are not explicitly designed to deal with systemic risk. This paper explores the adequacy of conventional collateral levels against systemic risk in the Canadian futures market during the 2008 crisis. Our results show that...
Persistent link: https://www.econbiz.de/10012017690