Search

Content Types

Research Topics

JEL Codes

Locations

Departments

Authors

Sources

Statuses

Published After

Published Before

2996 Results

Private Information Flow and Price Discovery in the U.S. Treasury Market

Staff Working Paper 2011-5 George Jiang, Ingrid Lo
Existing studies show that U.S. Treasury bond price changes are mainly driven by public information shocks, as manifested in macroeconomic news announcements and events. The literature also shows that heterogeneous private information contributes significantly to price discovery for U.S. Treasury securities.
Content Type(s): Staff research, Staff working papers Research Topic(s): Financial markets, Market structure and pricing JEL Code(s): G, G1, G12, G14

Monetary Policy Transmission Through Shadow and Traditional Banks

Staff Working Paper 2024-8 Amina Enkhbold
I investigate how monetary policy transmits to mortgage rates via the mortgage market concentration channel for both traditional and shadow banks in the United States from 2009 to 2019. On average, shadow and traditional banks exhibit only a slight disparity in transmitting monetary shocks to mortgage rates.

The Fisher BCPI: The Bank of Canada’s New Commodity Price Index

Staff Discussion Paper 2010-6 Ilan Kolet, Ryan Macdonald
The prices of commodities produced in Canada have important implications for the performance of the Canadian economy and the conduct of monetary policy. The authors explain an important change to the methodology used to construct the Bank of Canada commodity price index (BCPI).
May 25, 2017

Upgrading the Payments Grid: The Payoffs Are Greater Than You Think

Remarks Sylvain Leduc Payments Canada Toronto, Ontario
Deputy Governor Sylvain Leduc discusses how upgrading Canada’s core payment systems will contribute to financial stability and help the Bank keep inflation on target.

Preferences, Monetary Policy and Household Inflation

Staff Working Paper 2024-45 Geoffrey R. Dunbar
I quantify the importance of changes in household preferences on household inflation rates using 11 years of scanner data for 11,000 US households. My results suggest that changes in household preferences are an important driver of inflation dynamics at the household level.
Content Type(s): Staff research, Staff working papers Research Topic(s): Inflation and prices, Monetary policy transmission JEL Code(s): D, D1, D12, E, E5, E52, E58

Price Competition and Concentration in Search and Negotiation Markets: Evidence from Mortgage Lending

Staff Working Paper 2012-4 Jason Allen, Robert Clark, Jean-François Houde
This paper examines the impact of bank consolidation on mortgage rates in order to evaluate the extent to which mortgage markets are competitive. Mortgage markets are decentralized and so rates are determined through a search and negotiation process.
Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial services, Interest rates JEL Code(s): G, G2, L, L1

Monetary Policy Transmission, Bank Market Power, and Wholesale Funding Reliance

Staff Working Paper 2023-35 Amina Enkhbold
I study how banking market concentration and reliance on wholesale funding affect monetary policy transmission to mortgage rates. I find that this transmission is imperfect and dampens the response of consumption, output, and housing prices.
Go To Page