April 3, 2009
Uncategorized
-
-
April 3, 2009
Bank of Canada Announces Details of its Term PRA Operation
In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 6 March, the Bank of Canada announced today that it will conduct a 84-day term PRA operation as follows. -
April 3, 2009
Bank of Canada Announces Details of its Term Loan Facility Operation
In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 6 March, the Bank of Canada announced today that it will conduct a 30-day TLF operation as follows: -
Price Movements in the Canadian Residential Mortgage Market
The authors empirically analyze the price-setting behaviour of the major Canadian banks in the residential mortgage market over the period 1991–2007. They use weekly posted prices of the major mortgage providers to study the degree of competition in mortgage price setting. -
Complex Ownership and Capital Structure
This paper investigates the impact of pyramid ownership structure and multiple controlling shareholders on firm leverage. Pyramids, having at least one controlling shareholder and a subsidiary, rely significantly more on debt financing than non-pyramid firms. -
Information Flows and Aggregate Persistence
Models with imperfect information that generate persistent monetary nonneutrality predominantly rely on assumptions leading to substantial heterogeneity of information across price-setters. This paper develops a quantitative general equilibrium model in which the degree of heterogeneity of information is determined endogenously. -
April 1, 2009
Rebuilding Confidence in the Global Economy
These are very challenging times. The Canadian economy is in recession. The global economy is facing a crisis of confidence, triggered by the most severe financial meltdown since the Great Depression; fanned by sharp falls in trade, manufacturing output, and financial wealth; and intensified by steep increases in unemployment. -
March 31, 2009
Results of the 31 March 2009 Term PRA Transaction for Private Sector Instruments
The results of today's term PRA operations are as follows. -
March 30, 2009
What Are Banks Really For?
Across the world's major economies, addressing the failures of banking ranks among the highest policy priorities. In the harsh glare of the current financial turmoil, it is clear that many banks outside of Canada were either not doing their jobs or were doing them in ways that created enormous risks. -
March 30, 2009
Results of the 30 March 2009 Term PRA Transaction
The results of today's term PRA operations are as follows.