Staff working papers provide a forum for staff to publish work-in-progress research intended for journal publication.
1323
result(s)
What Drives Bank-Intermediated Trade Finance? Evidence from Cross-Country Analysis
Staff Working Paper 2015-8
Jose Maria Serena,
Garima Vasishtha
Empirical work on the underlying causes of the recent dislocations in bank-intermediated trade finance has been limited by the poor availability of hard data. This paper analyzes the key determinants of bank-intermediated trade finance using a novel data set covering ten banking jurisdictions.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
International financial markets,
International topics
JEL Code(s):
F,
F1,
F14,
F19
Information, Risk Sharing and Incentives in Agency Problems
Staff Working Paper 2015-7
Jia Xie
This paper studies the use of information for incentives and risk sharing in agency problems. When the principal is risk neutral or the outcome is contractible, risk sharing is unnecessary or completely taken care of by a contract on the outcome.
A New Data Set of Quarterly Total Factor Productivity in the Canadian Business Sector
Staff Working Paper 2015-6
Shutao Cao,
Sharon Kozicki
In this paper, a quarterly growth-accounting data set is built for the Canadian business sector with the top-down approach of Diewert and Yu (2012). Inputs and outputs are measured and used to estimate the quarterly total factor productivity (TFP).
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Productivity
JEL Code(s):
D,
D2,
D24,
F,
F4,
F43,
O,
O4,
O47
Motivations for Capital Controls and Their Effectiveness
Staff Working Paper 2015-5
Radhika Pandey,
Gurnain Pasricha,
Ila Patnaik,
Ajay Shah
We assess the motivations for changing capital controls and their effectiveness in India, a country with extensive and long-standing controls. We focus on the controls on foreign borrowing that can, in principle, be motivated by macroprudential concerns.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rate regimes,
Financial stability,
Financial system regulation and policies,
International topics
JEL Code(s):
F,
F3,
F32,
G,
G1,
G15,
G18
Does Financial Integration Increase Welfare? Evidence from International Household-Level Data
Staff Working Paper 2015-4
Christian Friedrich
Despite a vast empirical literature that assesses the impact of financial integration on the economy, evidence of substantial welfare gains from consumption risk sharing remains elusive. While maintaining the usual cross-country perspective of the literature, this paper explicitly accounts for household heterogeneity and thus relaxes three restrictive assumptions that have featured prominently in the past.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
International financial markets,
International topics,
Labour markets,
Recent economic and financial developments
JEL Code(s):
E,
E2,
E21,
F,
F3,
I,
I3,
I31
The Efficiency of Private E-Money-Like Systems: The U.S. Experience with National Bank Notes
Staff Working Paper 2015-3
Warren E. Weber
Beginning in 1864, in the United States notes of national banks were the predominant medium of exchange. Each national bank issued its own notes. E-money shares many of the characteristics of these bank notes.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Financial services
JEL Code(s):
E,
E4,
E41,
E42,
E5,
E58
International Spillovers of Large-Scale Asset Purchases
Staff Working Paper 2015-2
Sami Alpanda,
Serdar Kabaca
This paper evaluates the international spillover effects of large-scale asset purchases (LSAPs) using a two-country dynamic stochastic general-equilibrium model with nominal and real rigidities, and portfolio balance effects.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
International topics,
Monetary policy transmission
JEL Code(s):
E,
E5,
E52,
F,
F4,
F41
Immigrants and Mortgage Delinquency in the United States
Staff Working Paper 2015-1
Zhenguo Lin,
Yingchun Liu,
Jia Xie
We investigate the relationship between immigrant status and mortgage delinquency in the United States.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Debt management,
Financial stability
JEL Code(s):
G,
G2,
G21,
J,
J1,
J15
Demographics and the Demand for Currency
Staff Working Paper 2014-59
Geoffrey R. Dunbar
I use data from the Bank of Canada’s Bank Note Distribution System and exploit a natural experiment offered by the timing of Easter in the Gregorian calendar to analyze the effects of demographic change for currency demand.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Econometric and statistical methods
JEL Code(s):
C,
C3,
C31,
C36,
E,
E4,
E41