Welfare Analysis of Equilibria With and Without Early Termination Fees in the US Wireless Industry Staff Working Paper 2020-9 Joseph Cullen, Nicolas Schutz, Oleksandr Shcherbakov The elimination of long-term contracts and early termination fees (ETFs) in the US wireless industry at the end of 2015 increased monthly service fees by 2 to 5 percent. Nevertheless, consumers are clearly better off without ETFs. While firms’ revenues from ETFs vanish, their profits from monthly fees increase. As a result, the overall effect on producer profits is less clear. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Firm dynamics, Market structure and pricing JEL Code(s): D, D2, D22, L, L1, L15, L9, L96
March 24, 2020 Bank of Canada Announces New Program to Support Provincial Funding Markets The Bank of Canada today announced a new program to support the liquidity and efficiency of provincial government funding markets. Content Type(s): Press, Market notices Source(s): Provincial Money Market Purchase Program
March 24, 2020 COVID-19: Actions to Support the Economy and Financial System Learn about the economic impact of the COVID-19 pandemic and the Bank’s actions to support the Canadian economy and financial system. Content Type(s): Press, Announcements
March 24, 2020 COVID-19: Actions to Support the Economy and Financial System Learn about the economic impact of the COVID-19 pandemic and the Bank’s actions to support the Canadian economy and financial system. Content Type(s): Publications, Financial System Hub articles
March 24, 2020 COVID-19: Actions to support the economy and financial system Learn about the economic impact of the COVID-19 pandemic and the Bank’s actions to support the Canadian economy and financial system.
March 24, 2020 Results of today’s Canada Mortgage Bond purchase operation Today the Bank of Canada purchased $ 242,000,000 of Canada Mortgage Bonds in the secondary market. Content Type(s): Press, Market notices Source(s): Canada Mortgage Bond Purchase Program
March 24, 2020 Statement of G7 Finance Ministers and Central Bank Governors Consistent with the direction from G7 Leaders, we are taking action and enhancing coordination on our dynamic domestic and international policy efforts to respond to the global health, economic, and financial impacts associated with the spread of the coronavirus disease 2019 (COVID-19). Content Type(s): Press, Announcements
The Effect of Oil Price Shocks on Asset Markets: Evidence from Oil Inventory News Staff Working Paper 2020-8 Ron Alquist, Reinhard Ellwanger, Jianjian Jin We quantify the reaction of U.S. equity, bond futures, and exchange rate returns to oil price shocks driven by oil inventory news. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Recent economic and financial developments JEL Code(s): D, D8, D83, E, E4, E44, G, G1, G14, G15, Q, Q4, Q41, Q43