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3045 Results

Flight from Safety: How a Change to the Deposit Insurance Limit Affects Households’ Portfolio Allocation

Staff Working Paper 2019-29 H. Evren Damar, Reint Gropp, Adi Mordel
Deposit insurance protects depositors from failing banks, thus making insured deposits risk-free. When a deposit insurance limit is increased, some deposits that previously were uninsured become insured, thereby increasing the share of risk-free assets in households’ portfolios. This increase cannot simply be undone by households, because to invest in uninsured deposits, a household must first invest in insured deposits up to the limit. This basic insight is the starting point of the analysis in this paper.

Untapped Potential: Mobile Device Ownership and Mobile Payments in Canada

Staff Working Paper 2024-25 Marie-Hélène Felt, Angelika Welte, Katrina Talavera
We present a two-stage model of mobile phone and mobile payment usage that controls for selectivity. This reveals unobserved factors that work against having a mobile phone and toward mobile paying. Therefore, people who are unable to acquire or choose not to own a mobile device might have unmet payment needs.

The Determinants of Consumers’ Inflation Expectations: Evidence from the US and Canada

Staff Working Paper 2020-52 Charles Bellemare, Rolande Kpekou Tossou, Kevin Moran
We compare the determinants of consumer inflation expectations in the US and Canada by analyzing two current surveys. We find that Canadian consumers rely more on professional forecasts and the history of actual inflation when forming their expectations, while US consumers rely more on their own lagged expectations.

Financial Development and the Volatility of Income

Staff Working Paper 2013-4 Tiago Pinheiro, Francisco Rivadeneyra, Marc Teignier
This paper presents a general equilibrium model with endogenous collateral constraints to study the relationship between financial development and business cycle fluctuations in a cross-section of economies with different sizes of their financial sector.
Content Type(s): Staff research, Staff working papers Research Topic(s): Credit and credit aggregates, Financial stability JEL Code(s): E, E3, E32, E6, E60

The Effect of Exchange Rate Movements on Heterogeneous Plants: A Quantile Regression Analysis

Staff Working Paper 2010-25 Ben Tomlin, Loretta Fung
In this paper, we examine how the effect of movements in the real exchange rate on manufacturing plants depends on the plant's placement within the productivity distribution. Appreciations of the local currency expose domestic plants to more competition from abroad as export opportunities shrink and import competition intensifies.
Content Type(s): Staff research, Staff working papers Research Topic(s): Exchange rates, Market structure and pricing, Productivity JEL Code(s): D, D2, D21, F, F1, L, L1, L16, L6, L60

What Does Downward Nominal-Wage Rigidity Imply for Monetary Policy?

Staff Working Paper 1997-13 Seamus Hogan
A recent paper has suggested there might be a trade-off between inflation and unemployment at low inflation rates and this has led some economists to recommend that Canada increase its inflation rate.
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