September 7, 2012 Dutch Disease Remarks Mark Carney Spruce Meadows Round Table Calgary, Alberta Governor Mark Carney discusses the impact of high commodity prices for the Canadian economy. Content Type(s): Press, Speeches and appearances, Remarks
September 7, 2012 Elevated Commodity Prices “Unambiguously Good” for Canada, Says Bank of Canada Governor Mark Carney Media Relations Calgary, Alberta The global commodities boom drives enormous benefits for Canada, including higher incomes and greater economic security, Bank of Canada Governor Mark Carney said today in a speech to the 2012 Spruce Meadows Changing Fortunes: Global Economies Round Table. “Most fundamentally, higher commodity prices are unambiguously good for Canada,” Governor Carney told delegates. “The strength of […] Content Type(s): Press, Press releases
September 5, 2012 Bank of Canada maintains overnight rate target at 1 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Content Type(s): Press, Press releases
August 31, 2012 Weekly Financial Statistics - 31 August 2012 Content Type(s): Publications, Historical: Weekly Financial Statistics
August 30, 2012 Banking and Financial Statistics - 30 August 2012 Content Type(s): Publications, Historical: Banking and Financial Statistics
August 29, 2012 Quarterly Financial Report - Second Quarter 2012 Quarterly Financial Report - Second Quarter, 2012 - For the period ended 30 June 2012 Content Type(s): Publications, Quarterly Financial Report
Systematic Risk, Debt Maturity and the Term Structure of Credit Spreads Staff Working Paper 2012-27 Hui Chen, Yu Xu, Jun Yang We build a dynamic capital structure model to study the link between systematic risk exposure and debt maturity, as well as their joint impact on the term structure of credit spreads. Our model allows for time variation and lumpiness in the maturity structure. Relative to short-term debt, long-term debt is less prone to rollover risks, but its illiquidity raises the costs of financing. Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Debt management JEL Code(s): G, G3, G32, G33
Natural Monopoly and Distorted Competition: Evidence from Unbundling Fiber-Optic Networks Staff Working Paper 2012-26 Naoaki Minamihashi Can regulation solve problems arising from a natural monopoly? This paper analyzes whether “unbundling,” referring to regulations that enforce sharing of natural monopolistic infrastructure, prevents entrants from building new infrastructure. Content Type(s): Staff research, Staff working papers Topic(s): Market structure and pricing, Productivity JEL Code(s): K, K2, K23, L, L4, L43, L9, L96
Does the Buck Stop Here? A Comparison of Withdrawals from Money Market Mutual Funds with Floating and Constant Share Prices Staff Working Paper 2012-25 Jonathan Witmer Recent reform proposals call for an elimination of the constant net asset value (NAV) or “buck” in money market mutual funds to reduce the occurrence of runs. Outside the United States, there are several countries that have money market mutual funds with and without constant NAVs. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Financial stability, Market structure and pricing JEL Code(s): F, F3, F30, G, G0, G01, G1, G18, G2, G20
August 24, 2012 Weekly Financial Statistics - 24 August 2012 Content Type(s): Publications, Historical: Weekly Financial Statistics