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9263 Results

Intermediary Market Power and Capital Constraints

Staff Working Paper 2023-51 Jason Allen, Milena Wittwer
We examine how intermediary capitalization affects asset prices in a framework that allows for intermediary market power. We introduce a model in which capital-constrained intermediaries buy or trade an asset in an imperfectly competitive market, and we show that weaker capital constraints lead to both higher prices and intermediary markups.

Badr Omrane

Badr is Assistant Director, Financial Technology Research in the Information Technology Services Department.

Redefining Financial Inclusion for a Digital Age: Implications for a Central Bank Digital Currency

We explore quantitative and qualitative information about Canadians who face barriers to making digital payments. We also consider the implications of ongoing digitalization for modern financial inclusion and a potential central bank digital currency.
October 3, 2023

Speech: The Chamber of Commerce of Metropolitan Montreal

Pricing practices and monetary policy — External Non-executive Deputy Governor Nicolas Vincent speaks before The Chamber of Commerce of Metropolitan Montreal. (08:40 (ET) approx.).

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