Find our research on the financial system by keyword, author, content type, JEL code, topic or date of publication.
452
result(s)
Innovation and Growth with Financial, and Other, Frictions
Staff Working Paper 2011-25
Jonathan Chiu,
Césaire Meh,
Randall Wright
The generation and implementation of ideas, or knowledge, is crucial for economic performance. We study this process in a model of endogenous growth with frictions.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Potential output,
Productivity
JEL Code(s):
E,
E4,
G,
G2,
O,
O3,
O4
Determinants of Financial Stress and Recovery during the Great Recession
Staff Working Paper 2011-24
Joshua Aizenman,
Gurnain Pasricha
In this paper, we explore the link between stress in the domestic financial sector and the capital flight faced by countries in the 2008-9 global crisis. Both the timing of emergence of internal financial stress in developing economies, and the size of the peak-trough declines in the stock price indices was comparable to that in high income countries, indicating that there was no decoupling, even before Lehman Brothers’ demise.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Balance of payments and components,
Financial markets,
International topics
JEL Code(s):
F,
F3,
F32,
G,
G1,
G15
How Do You Pay? The Role of Incentives at the Point-of-Sale
Staff Working Paper 2011-23
Carlos Arango,
Kim Huynh,
Leonard Sabetti
This paper uses discrete-choice models to quantify the role of consumer socioeconomic characteristics, payment instrument attributes, and transaction features on the probability of using cash, debit card, or credit card at the point-of-sale.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Econometric and statistical methods,
Financial services
JEL Code(s):
C,
C3,
C35,
C8,
C83,
E,
E4,
E41
Fixed-Term and Permanent Employment Contracts: Theory and Evidence
Staff Working Paper 2011-21
Shutao Cao,
Enchuan Shao,
Pedro Silos
This paper constructs a theory of the coexistence of fixed-term and permanent employment contracts in an environment with ex-ante identical workers and employers. Workers under fixed-term contracts can be dismissed at no cost while permanent employees enjoy labor protection.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Labour markets,
Potential output,
Productivity
JEL Code(s):
H,
H2,
H29,
J,
J2,
J23,
J3,
J38
Measuring Systemic Importance of Financial Institutions: An Extreme Value Theory Approach
Staff Working Paper 2011-19
Toni Gravelle,
Fuchun Li
In this paper, we define a financial institution’s contribution to financial systemic risk as the increase in financial systemic risk conditional on the crash of the financial institution. The higher the contribution is, the more systemically important is the institution for the system.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Financial institutions,
Financial stability,
Financial system regulation and policies
JEL Code(s):
C,
C1,
C14,
C5,
C58,
G,
G2,
G21,
G3,
G32
Analyzing Default Risk and Liquidity Demand during a Financial Crisis: The Case of Canada
Staff Working Paper 2011-17
Jason Allen,
Ali Hortaçsu,
Jakub Kastl
This paper explores the reliability of using prices of credit default swap contracts (CDS) as indicators of default probabilities during the 2007/2008 financial crisis.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Financial markets,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E42,
E5,
E58,
G,
G0,
G01,
G2,
G28
The Impact of Operational Events on the Network Structure of the LVTS
Staff Discussion Paper 2011-7
Tom Roberts
The author uses a quantitative network analysis approach to assess how participants in the Large Value Transfer System (LVTS) respond to partial outages at other banks.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Payment clearing and settlement systems
JEL Code(s):
C,
C4,
C49,
G,
G1,
G14,
G2,
G21
Lessons from International Central Counterparties: Benchmarking and Analysis
Staff Discussion Paper 2011-4
Alexandre Lazarow
Since the financial crisis, attention has focused on central counterparties (CCPs) as a solution to systemic risk for a variety of financial markets, ranging from repurchase agreements and options to swaps.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial markets,
Financial stability,
Financial system regulation and policies,
Payment clearing and settlement systems
JEL Code(s):
G,
G0,
G01,
G1,
G14,
G18,
G2,
G28,
G3,
G38
Bank Loans for Private and Public Firms in a Credit Crunch
Staff Working Paper 2011-13
Jason Allen,
Teodora Paligorova
Banks reliance on short-term funding has increased over time. While an effective source of financing in good times, the 2007 financial crisis has exposed the vulnerability of banks and ultimately firms to such a liability structure.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions
JEL Code(s):
G,
G0,
G01,
G2,
G20