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Conference Paper
International financial stability: the Canadian perspective
Journal Article
Nationwide branching: the Canadian case
Journal Article
Change in Canadian banking
Report
Restrictions on financial intermediaries and implications for aggregate fluctuations: Canada and the United States, 1870-1913
We consider a production economy with a finite number of heterogeneous, infinitely lived consumers. We show that, if the economy is smooth enough, equilibria are locally unique for almost all endowments. We do so by converting the infinite-dimensional fixed point problem stated in terms of prices and commodities into a finite-dimensional Negishi problem involving individual weights in a social value function. By adding artificial fixed factors to utility and production functions, we can write the equilibrium conditions equating spending and income for each consumer entirely in terms of ...
Conference Paper
Expanding bank powers: a Canadian perspective
Conference Paper
The performance of the Canadian banking system, 1920-1940
Conference Paper
Early intervention practices in Canada
Conference Paper
Bank regulation and structure: an international overview
Working Paper
When does financial liberalization make banks risky? : an empirical examination of Argentina, Canada and Mexico
In the literature on systemic banking crises, two common themes are: (1) lack of market discipline encourages risky lending and (2) financial liberalization or privatization lead to risky lending. However, there is evidence to suggest that neither financial liberalization nor weak market discipline always precedes risky lending. We test for depositor discipline and, separately for post-liberalization or post-privatization risky lending in Argentina, Canada, and Mexico. In the countries without market discipline, lending risk increases significantly in the wake of liberalization. Where ...