A new act for Cirque du Soleil

At the end of 2020, a creditor consortium led by Catalyst Capital became the new owner of Cirque du Soleil only months after the famed circus producer made a failed bid for bankruptcy protection. While Catalyst Capital has been plagued by controversy in the past, according to a new investigative article from La Presse, it offered a way out for a company that has endured a catastrophic year.

Predicting the future of digital currency

A recent survey found that Canada has the most cashless economy in the world, with most consumers using the credit card system. Professor Katrin Tinn joined CTV News Montreal to share her insights on the potential for the Bank of Canada to approve other forms of digital currencies, such as Bitcoin.

The pros and cons of digital currency

Professor Katrin Tinn weighs in on the ongoing debate about the sustainability of digital currency in Canada. In her view, consumers would benefit from a more up-to-date understanding of their spending habits, and the lending process could be streamlined. But the picture isn’t entirely rosy. Adopting digital currencies presents an inevitable security risk.

Building the digital currency space

Professor Katrin Tinn is at the forefront of the effort to reimagine Canada’s monetary backing system.

With the right innovations in central bank digital currencies, she believes, everything from paying taxes to earning income as an independent artist could become more reliable and more efficient.

Patrick Augustin, Associate Professor of Finance, awarded Canada Research Chair in Macrofinance and Derivatives

Professor Patrick Augustin’s research program seeks to foster our understanding of financial markets and public institutions, focusing on sovereign and corporate credit risk, insider trading, and new financial technologies. As these subjects are fundamental to the stability of financial markets and modern economic society, the proposed research is instrumental in guiding public policy design.

Volmageddon and the Failure of Short Volatility Products

Authors: Patrick Augustin, I-H. Cheng and L. Van den Bergen Publication: Financial Analysts Journal, Forthcoming; First published online May 20, 2021 Abstract:

The future of ETF regulation

Professor Patrick Augustin provides an expert perspective on questions surrounding the regulation of a Bitcoin-traded fund (ETF) proposed by VanEck Associates Group. While the Securities and Exchange Commission (SEC) deliberates, it runs the risk of making space for a digital shadow finance industry to emerge, says Augustin.

When sovereign debt becomes a problem

Professor Patrick Augustin and three other North American economists are ringing an alarm bell about the increasing risks associated with heavy borrowing at the state level. In their recent study of 30 developed countries and 30 U.S. states, they measure the effect of the spread of the COVID-19 pandemic on the borrowing costs of governments.

Trust, Collaboration, and Economic Growth

Authors: Jiro Kondo, D. Li, and D. Papanikolaou

Publication: Management Science, Volume 67, Issue 3, March 2021, Pages 1825-1850. Abstract:

Rogers purchases Shaw, erases competition

Following its $26 billion acquisition of Shaw, Rogers has been criticized for eliminating regional competition. If the sale is approved by the Trudeau government, the company would become the second-largest telecom provider in Canada.

Professor Paul Beaumont joins the conversation to discuss the continuing importance of keeping the telecom industry competitive.

Professor Katrin Tinn proposes unique design for digital currency

Professor Katrin Tinn recently teamed up with Professor Christophe Dubach from the Faculty of Engineering to propose a new design for the Bank of Canada’s digital currency. By protecting the identity and transactions of individual spenders, their design would address ongoing privacy and compliance concerns with Central Bank digital currency (CBDC).

In Sickness and in Debt: The COVID-19 Impact on Sovereign Credit Risk?

Authors: Patrick Augustin, V. Sokolovski, M.G. Subrahmanyam, and D. Tomio

Publication: Journal of Financial Economics, Forthcoming Abstract:

Learning Through Crowdfunding

Authors: G. Chemla and Katrin Tinn Publication: Management Science, Volume 66, Issue 5, May 2020, Pages 1783-1801. Abstract:

Desautels professor lends expertise to Exchange Traded Funds (ETF) study

One of Wall Street’s least-known trading companies, Jane Street has quietly become a global market-maker. With a niche in the world of exchange traded funds (ETFs), the company was well-positioned to weather the COVID-19 crisis. Professor Sebastien Betermier recently entered the conversation with a new report that connects fixed-income ETFs to market liquidity during the pandemic.

Small investors change the game, but it won’t last

Earlier this month, a Reddit-driven investor coup sent shockwaves through the market as heavily shorted stocks skyrocketed in price. Professor Mo Chaudhury weighs in on the mania, attributing the rising number of new investors to the COVID-19 pandemic.