Posts

• Price Competition and Concentration in Search and Negotiation Markets: Evidence from Mortgage Lending

  Staff Working Paper 2012-4 Jason Allen, Robert Clark, Jean-François Houde

  This paper examines the impact of bank consolidation on mortgage rates in order to evaluate the extent to which mortgage markets are competitive. Mortgage markets are decentralized and so rates are determined through a search and negotiation process.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial services, Interest rates JEL Code(s): G, G2, L, L1

• Fooled by Search: Housing Prices, Turnover and Bubbles

  Staff Working Paper 2012-3 Brian Peterson

  his paper develops and estimates a model to explain the behaviour of house prices in the United States. The main finding is that over 70% of the increase in house prices relative to trend during the increase of house prices in the United States from 1995 to 2006 can be explained by a pricing mechanism where market participants are ‘Fooled by Search.’

  Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Business fluctuations and cycles JEL Code(s): E, E3, R, R2, R21
• February 7, 2012

  Raising the House of Reform

  Remarks Tiff Macklem Rotman Institute for International Business Toronto, Ontario

  Senior Deputy Governor Tiff Macklem discusses the importance of pressing ahead with financial reforms despite the weak global recovery.

  Content Type(s): Press, Speeches and appearances, Remarks
• February 3, 2012

  Weekly Financial Statistics - 3 February 2012

  Content Type(s): Publications, Historical: Weekly Financial Statistics

• A Foreign Activity Measure for Predicting Canadian Exports

  Staff Discussion Paper 2012-1 Louis Morel

  The author constructs a measure of foreign activity that takes into account the composition of foreign demand for Canadian exports. It has a number of interesting features.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Balance of payments and components, Exchange rates, Recent economic and financial developments JEL Code(s): E, E0, E00, F, F1, F17
• February 2, 2012

  Understanding Intraday Payment Flows in the Large Value Transfer System

  Financial System Review - December 2002 Lindsay Cheung

  Content Type(s): Publications, Financial System Review articles
• February 2, 2012

  The Financial Services Sector: An Update on Recent Developments

  Financial System Review - December 2002 Charles Freedman, Clyde Goodlet

  Content Type(s): Publications, Financial System Review articles
• February 2, 2012

  Banking Crises and Contagion: Empirical Evidence

  Financial System Review - December 2002 Eric Santor

  Content Type(s): Publications, Financial System Review articles
• February 1, 2012

  Development of the Canadian Corporate Debt Market: Some Stylized Facts and Issues

  Financial System Review - December 2003 Stacey Anderson, Ron Parker, Andrew Spence

  Content Type(s): Publications, Financial System Review articles
• February 1, 2012

  Measuring Financial Stress

  Financial System Review - December 2003 Mark Illing, Ying Liu

  Content Type(s): Publications, Financial System Review articles