August 7, 2015 Weekly Financial Statistics - 7 August 2015 Content Type(s): Publications, Historical: Weekly Financial Statistics
Cheap But Flighty: How Global Imbalances Create Financial Fragility Staff Working Paper 2015-33 Enrico Perotti, Toni Ahnert We analyze how a wealth shift to emerging countries may lead to instability in developed countries. Investors exposed to expropriation risk are willing to pay a safety premium to invest in countries with good property rights. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial stability JEL Code(s): F, F3, G, G2
Quantifying Contagion Risk in Funding Markets: A Model-Based Stress-Testing Approach Staff Working Paper 2015-32 Kartik Anand, Céline Gauthier, Moez Souissi We propose a tractable, model-based stress-testing framework where the solvency risks, funding liquidity risks and market risks of banks are intertwined. Content Type(s): Staff research, Staff working papers Topic(s): Financial stability, Financial system regulation and policies JEL Code(s): C, C7, C72, E, E5, E58, G, G0, G01, G2, G21, G28
August 6, 2015 Completion of Public Consultation: Draft Terms for Auctions of Government of Canada Ultra-Long Bonds Following the release of the draft Terms for Auctions of Government of Canada Ultra-Long Bonds (proposal) by the Bank of Canada, a three-week consultation period, ending 10 July 2015, was held. Content Type(s): Press, Market notices
Exchange Rate Pass-Through, Currency of Invoicing and Market Share Staff Working Paper 2015-31 Michael Devereux, Wei Dong, Ben Tomlin This paper investigates the impact of market structure on the joint determination of exchange rate pass-through and currency of invoicing in international trade. A novel feature of the study is the focus on market share of firms on both sides of the market—that is, exporting firms and importing firms. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Inflation and prices, Market structure and pricing JEL Code(s): F, F3, F4
July 31, 2015 Weekly Financial Statistics - 31 July 2015 Content Type(s): Publications, Historical: Weekly Financial Statistics
The Endogenous Relative Price of Investment Staff Working Paper 2015-30 Joel Wagner This paper takes a full-information model-based approach to evaluate the link between investment-specific technology and the inverse of the relative price of investment. The two-sector model presented includes monopolistic competition where firms can vary the markup charged on their product depending on the number of firms competing. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles JEL Code(s): E, E3, E32, L, L1, L11, L16
Examining Full Collateral Coverage in Canada’s Large Value Transfer System Staff Working Paper 2015-29 Lana Embree, Varya Taylor The Large Value Transfer System (LVTS) is Canada’s main electronic interbank funds transfer system that financial institutions use daily to transmit thousands of payments worth several billions of dollars. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Payment clearing and settlement systems JEL Code(s): E, E4, E47, G, G2, G21