Paper on contestability in Canadian banking
The Bank of Canada has published a discussion paper entitled, "A Note on Contestability in the Canadian Banking Industry."
The paper was written by Jason Allen, a senior analyst at the central bank, and Ying Liu, an academic from the Universite de la Meditarranee in Marseille, France.
Allen and Liu found that the Canadian banking sector is in equilibrium and characterised by monopolistic competition. They show that projecting revenue on total assets leads to an upward bias regarding the level of
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