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795 result(s)

Futures Markets, Oil Prices and the Intertemporal Approach to the Current Account

Staff Working Paper 2008-48 Elif Arbatli
The intertemporal approach to the current account suggests modeling movements in the current account in a forward-looking, dynamic framework. In this framework, the current account reflects consumption smoothing of agents that lend and borrow from the rest of the world in the face of transitory shocks to income.
Content Type(s): Staff research, Staff working papers Research Topic(s): Balance of payments and components JEL Code(s): C, C2, C22, F, F2, F21, F3, F32, G, G1, G13

How Important Is Liquidity Risk for Sovereign Bond Risk Premia? Evidence from the London Stock Exchange

Staff Working Paper 2008-47 Ron Alquist
This paper uses the framework of arbitrage-pricing theory to study the relationship between liquidity risk and sovereign bond risk premia. The London Stock Exchange in the late 19th century is an ideal laboratory in which to test the proposition that liquidity risk affects the price of sovereign debt.
Content Type(s): Staff research, Staff working papers Research Topic(s): Financial markets, International topics JEL Code(s): F, F2, F21, F3, F34, F36, G, G1, G12, G15

Indebtedness and the Household Financial Health: An Examination of the Canadian Debt Service Ratio Distribution

Staff Working Paper 2008-46 Umar Faruqui
The household debt-to-disposable income ratio in Canada increased from 110 per cent in 1999 to 127 per cent in 2007. This increase has raised questions about the ability of households to service their increased debt if faced with a negative economic or socio-economic shock.
Content Type(s): Staff research, Staff working papers Research Topic(s): Financial stability, Monetary and financial indicators JEL Code(s): D, D1, D11, D14, D3, D39

Financial Constraints and the Cash-Holding Behaviour of Canadian Firms

Staff Discussion Paper 2008-16 Darcey McVanel, Nikita Perevalov
The proportion of assets held by the average Canadian firm in the form of cash has increased steadily since the early 1990s, and is now roughly twice as large as in 1990. The literature has established that the cash-holding behaviour of firms is highly correlated with financial constraints and firm characteristics.
Content Type(s): Staff research, Staff discussion papers Research Topic(s): Sectoral balance sheet JEL Code(s): G, G1, G11, G3, G32
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