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2380
result(s)
Modelling Financial Instability: A Survey of the Literature
Staff Working Paper 2002-12
Alexandra Lai
The magnitude and frequency of recent financial crises underscore the importance of understanding financial instability for the purpose of crisis prevention and crisis management.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Financial markets,
Financial services
JEL Code(s):
G,
G2,
G20,
G21,
G28
Risk, Entropy, and the Transformation of Distributions
Staff Working Paper 2002-11
Mark Reesor,
Don McLeish
The exponential family, relative entropy, and distortion are methods of transforming probability distributions. We establish a link between those methods, focusing on the relation between relative entropy and distortion.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Financial markets,
Market structure and pricing
JEL Code(s):
C,
C0,
C1,
D,
D8,
G,
G0
La fiabilité des estimations de l'écart de production au Canada
Staff Working Paper 2002-10
Jean-Philippe Cayen,
Simon van Norden
In this paper, we measure, with Canadian data, the scope of the revisions to real-time estimates of the output gap generated with several univariate and multivariate techniques. We also make an empirical evaluation of the usefulness of the output gap estimates for predicting inflation.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Potential output
JEL Code(s):
E,
E3,
E32
The Microstructure of Multiple-Dealer Equity and Government Securities Markets: How They Differ
Staff Working Paper 2002-9
Toni Gravelle
Although dealership government and equity securities have, on the surface, similar market structures, the author demonstrates that some subtle differences exist between them that are likely to significantly affect the way market-makers trade, and as such have an impact on the liquidity that they provide.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Debt management,
Financial markets,
Market structure and pricing
JEL Code(s):
G,
G1,
G10,
G15,
G18
Restructuring in the Canadian Economy: A Survey of Firms
Staff Working Paper 2002-8
Carolyn Kwan
The regional offices of the Bank conducted a survey of 140 Canadian companies (representing all non-government sectors of the economy) to study the effects of restructuring (defined as a major change in the way firms do business).
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Labour markets,
Productivity,
Regional economic developments
JEL Code(s):
O,
O5,
O51
Contribution of ICT Use to Output and Labour-Productivity Growth in Canada
Staff Working Paper 2002-7
Hashmat Khan,
Marjorie Santos
There is ample evidence that information and communication technologies (ICT) contributed significantly to the surge in output and labour-productivity growth in the United States in the late 1990s.
Currency Fluctuations, Liability Dollarization, and the Choice of Exchange Rate Regimes in Emerging Markets
Staff Working Paper 2002-6
Patrick Osakwe
Traditional models of exchange rate regimes ignore the destabilizing effects of sharp and unanticipated exchange rate movements.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rate regimes
JEL Code(s):
E,
E5,
E52,
F,
F3,
F31,
F4,
F41
The Effects of Bank Consolidation on Risk Capital Allocation and Market Liquidity
Staff Working Paper 2002-5
Chris D'Souza,
Alexandra Lai
This paper investigates the effects of financial market consolidation on risk capital allocation in a financial institution and the implications for market liquidity in dealership markets. We show that an increase in financial market consolidation can have ambiguous effects on liquidity in foreign exchange and government securities markets.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Financial markets
JEL Code(s):
G,
G2,
G28,
G3,
G31,
G34
Does Micro Evidence Support the Wage Phillips Curve in Canada?
Staff Working Paper 2002-4
Jean Farès
The existing macroeconometric evidence lends support to the wage Phillips curve by showing a negative relation between the rate of change in wages and the unemployment rate, conditional on lagged price inflation. Most theoretical models of wage setting, however, generate a "wage curve," described by a negative relation between the level of the real wage and unemployment.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices
JEL Code(s):
J,
J3,
J31