Staff research, Publications
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Price Negotiation in Differentiated Products Markets: Evidence from the Canadian Mortgage Market
This paper measures market power in a decentralized market where contracts are determined through a search and negotiation process. The mortgage industry has many institutional features which suggest competitiveness: homogeneous contracts, negotiable rates, and, for a given consumer, common lending costs across lenders. -
September 27, 2012
Banking and Financial Statistics - September 2012
Erratum: A note to the tables for C1-10 was erroneously included on pg. S127 in the September 2012 publication of the Banking and Financial Statistics package. Although the note states that deposits of the chartered banks increased by $2.8 billion due to B2B Trust (a wholly owned subsidiary of Laurentian Bank) acquisition of AGF Trust, the actual data in the tables does not reflect this adjustment due to the timing of the BFS publication and the actual database updates. This note will be re-introduced in the October release of the BFS when August data is made available.
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Efficiency and Bargaining Power in the Interbank Loan Market
Using detailed loan transactions-level data we examine the efficiency of an overnight interbank lending market, and the bargaining power of its participants. Our analysis relies on the equilibrium concept of the core, which imposes a set of no-arbitrage conditions on trades in the market. -
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The Bank of Canada’s 2009 Methods-of-Payment Survey: Methodology and Key Results
The authors present the methodology and main findings of the Bank of Canada’s 2009 Methods-of-Payment survey, a detailed investigation of consumer payment behaviour in Canada. The survey targeted the 18- to 75-year-old Canadian resident population. -
What Drags and Drives Mobility: Explaining Canada’s Aggregate Migration Patterns
Using census data at the economic region level from 1991 to 2006 and a gravity model framework, this paper examines the factors that influence migration within Canada.