Staff discussion papers

• Financial Constraints and the Cash-Holding Behaviour of Canadian Firms

  Staff Discussion Paper 2008-16 Darcey McVanel, Nikita Perevalov

  The proportion of assets held by the average Canadian firm in the form of cash has increased steadily since the early 1990s, and is now roughly twice as large as in 1990. The literature has established that the cash-holding behaviour of firms is highly correlated with financial constraints and firm characteristics.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Sectoral balance sheet JEL Code(s): G, G1, G11, G3, G32

• The Canadian Dollar and Commodity Prices: Has the Relationship Changed over Time?

  Staff Discussion Paper 2008-15 Philipp Maier, Brian DePratto

  The authors examine the impact of the recent run-up in energy and non-energy commodity prices on the Canadian dollar. Using the Bank of Canada's exchange rate equation, they find that the differences between the actual value of the Canadian exchange rate and the simulated values observed in 2007 are not historically large. Still, given that […]

  Content Type(s): Staff research, Staff discussion papers Topic(s): Exchange rates JEL Code(s): F, F3, F31