December 20, 2002
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449
result(s)
Oil-Price Shocks and Retail Energy Prices in Canada
Staff Working Paper 2002-38
Marwan Chacra
The effects of global energy-price shocks on retail energy prices in Canada are examined. More specifically, the author looks at the response of the consumer price indexes for gasoline, heating oil, natural gas, and electricity in Canada to movements in world crude oil prices.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Inflation and prices,
Market structure and pricing
JEL Code(s):
C,
C2,
C22,
C5,
C51,
C53,
Q,
Q4,
Q40
The Impact of Common Currencies on Financial Markets: A Literature Review and Evidence from the Euro Area
Staff Working Paper 2002-35
Liliane Karlinger
This paper reviews both the theoretical and empirical literature on the impact of common currencies on financial markets and evaluates the first three years of experience with Economic and Monetary Union (EMU).
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rate regimes,
Financial markets
JEL Code(s):
E,
E4,
E44,
F,
F2,
F21,
F3,
F36,
G,
G1,
G15
How Do Canadian Banks That Deal in Foreign Exchange Hedge Their Exposure to Risk?
Staff Working Paper 2002-34
Chris D'Souza
This paper examines the daily hedging and risk-management practices of financial intermediaries in the Canadian foreign exchange (FX) market.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Financial markets,
Market structure and pricing
JEL Code(s):
F,
F3,
F31,
G,
G1,
G14,
G2,
G21
Alternative Trading Systems: Does One Shoe Fit All?
Staff Working Paper 2002-33
Nicolas Audet,
Toni Gravelle,
Jing Yang
This paper examines the factors that lead liquidity-motivated investors to choose the type of market structure they prefer.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial markets
JEL Code(s):
G,
G1,
G10,
G14,
G18
Exponentials, Polynomials, and Fourier Series: More Yield Curve Modelling at the Bank of Canada
Staff Working Paper 2002-29
David Bolder,
Scott Gusba
This paper continues the work started by Bolder and Stréliski (1999) and considers two alternative classes of models for extracting zero-coupon and forward rates from a set of observed Government of Canada bond and treasury-bill prices.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Financial markets,
Interest rates
JEL Code(s):
C,
C0,
C6,
E,
E4,
G,
G1
Nominal Rigidity, Desired Markup Variations, and Real Exchange Rate Persistence
Staff Working Paper 2002-26
Hafedh Bouakez
This paper develops and estimates a dynamic general-equilibrium sticky-price model that accounts for real exchange rate persistence.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Market structure and pricing,
Monetary policy transmission
JEL Code(s):
F,
F3,
F31,
F4,
F41
Financial Structure and Economic Growth: A Non-Technical Survey
Staff Working Paper 2002-24
Veronika Dolar,
Césaire Meh
There is a large body of literature that studies the relationship between financial structure (that is, the degree to which the financial system is either market- or intermediary-based) and long-run economic growth.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Development economics,
Economic models,
Financial institutions,
Financial markets,
Financial services
JEL Code(s):
F,
F3,
F36,
G,
G0,
G00,
G1,
G14,
G2,
G21,
K,
K2,
K22,
O,
O1,
O16
A Market Microstructure Analysis of Foreign Exchange Intervention in Canada
Staff Working Paper 2002-16
Chris D'Souza
This paper clarifies the role and the impact of foreign exchange dealers in the relationship between foreign exchange intervention and nominal exchange rates using a unique dataset that disaggregates trades by dealer and by type of trade.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Financial institutions,
Financial markets
JEL Code(s):
F,
F3,
F31,
G,
G1,
G14,
G2,
G21
Corporate Bond Spreads and the Business Cycle
Staff Working Paper 2002-15
Zhiwei Zhang
This paper examines the predictive power of credit spreads from the corporate bond market. The high-yield bond spread and investment-grade spread can explain 68 per cent and 42 per cent of output variations one year ahead, while the term spread based on government debts can explain only 12 per cent of them.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial markets,
Monetary and financial indicators,
Monetary policy transmission
JEL Code(s):
E,
E3,
E5,
G,
G1