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2360
result(s)
Competition in the Cryptocurrency Market
Staff Working Paper 2014-33
Neil Gandal,
Hanna Halaburda
We analyze how network effects affect competition in the nascent cryptocurrency market. We do so by examining the changes over time in exchange rate data among cryptocurrencies.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Digital currencies and fintech
JEL Code(s):
L,
L1
Commodity Price Co-Movement and Global Economic Activity
Staff Working Paper 2014-32
Ron Alquist,
Olivier Coibion
Guided by a macroeconomic model in which non-energy commodity prices are endogenously determined, we apply a new factor-based identification strategy to decompose the historical sources of changes in commodity prices and global economic activity.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
International topics
JEL Code(s):
E,
E3,
F,
F4
Analyzing and Forecasting the Canadian Economy through the LENS Model
Technical Report No. 102
Olivier Gervais,
Marc-André Gosselin
The authors describe the key features of a new large-scale Canadian macroeconomic forecasting model developed over the past two years at the Bank of Canada.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Econometric and statistical methods,
Economic models
JEL Code(s):
C,
C5,
C53,
E,
E1,
E17,
E2,
E27,
E3,
E37,
F,
F1,
F17
Removal of the Unwinding Provisions in the Automated Clearing Settlement System: A Risk Assessment
Staff Discussion Paper 2014-4
Nicholas Labelle,
Varya Taylor
A default in the Automated Clearing Settlement System (ACSS) occurs when a Direct Clearer is unable to settle its final obligation.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial stability,
Payment clearing and settlement systems
JEL Code(s):
C,
C1,
C15,
G,
G0,
G01,
G2,
G3
Capital Flows and Macroprudential Policies - A Multilateral Assessment of Effectiveness and Externalities
Staff Working Paper 2014-31
John Beirne,
Christian Friedrich
This paper assesses the effectiveness and associated externalities that arise when macroprudential policies (MPPs) are used to manage international capital flows. Using a sample of up to 139 countries, we examine the impact of eight different MPP measures on cross-border bank flows over the period 1999-2009.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Balance of payments and components,
Financial markets,
International topics
JEL Code(s):
F,
F3,
F5,
G,
G0,
G01,
G1,
G11
Information, Amplification and Financial Crisis
Staff Working Paper 2014-30
Ali Kakhbod,
Toni Ahnert
We propose a parsimonious model of information choice in a global coordination game of regime change that is used to analyze debt crises, bank runs or currency attacks. A change in the publicly available information alters the uncertainty about the behavior of other investors.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Financial stability
JEL Code(s):
D,
D8,
D83,
G,
G0,
G01
Optimal Margining and Margin Relief in Centrally Cleared Derivatives Markets
Staff Working Paper 2014-29
Radoslav Raykov
A major policy challenge posed by derivatives clearinghouses is that their collateral requirements can rise sharply in times of stress, reducing market liquidity and further exacerbating downturns.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Payment clearing and settlement systems
JEL Code(s):
G,
G1,
G19,
G2,
G21
Forecasting Short-Term Real GDP Growth in the Euro Area and Japan Using Unrestricted MIDAS Regressions
Staff Discussion Paper 2014-3
Maxime Leboeuf,
Louis Morel
In this paper, the authors develop a new tool to improve the short-term forecasting of real GDP growth in the euro area and Japan. This new tool, which uses unrestricted mixed-data sampling (U-MIDAS) regressions, allows an evaluation of the usefulness of a wide range of indicators in predicting short-term real GDP growth.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Econometric and statistical methods,
International topics
JEL Code(s):
C,
C5,
C50,
C53,
E,
E3,
E37,
E4,
E47
Consumer Attitudes and the Epidemiology of Inflation Expectations
Staff Working Paper 2014-28
Michael Ehrmann,
Damjan Pfajfar,
Emiliano Santoro
This paper studies the formation of consumers’ inflation expectations using micro-level data from the Michigan Survey. It shows that beyond the well-established socio-economic determinants of inflation expectations such as gender, income or education, other characteristics such as the households’ financial situation and their purchasing attitudes also matter.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices
JEL Code(s):
C,
C5,
C53,
D,
D8,
D84,
E,
E3,
E31