Posts

• November 18, 2010

  Where the Economy and Finance Meet

  Remarks Jean Boivin Okanagan CFA Society and UBC Okanagan (Faculty of Management) Kelowna, British Columbia

  As the title of my speech suggests, I would like to discuss the connections between the real economy – the tangible world of jobs, goods and services – and the more intangible world of finance – of money flows, interest rates and the stock market. They have a long and eventful history.

  Content Type(s): Press, Speeches and appearances, Remarks
• November 18, 2010

  Financial Stress, Monetary Policy, and Economic Activity

  Bank of Canada Review - Autumn 2010 Fuchun Li, Pierre St-Amant

  The recent global crisis was characterized by a remarkable intensity in the negative feedback process between financial sector developments and the real economy.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Business fluctuations and cycles, Economic models, Monetary policy transmission
• November 18, 2010

  Trends in Issuance: Underlying Factors and Implications

  Bank of Canada Review - Autumn 2010 Jonathan Witmer

  Trends in debt issuance have changed significantly over the past decade, both prior to the financial crisis and subsequently.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Financial markets, Financial system regulation and policies
• November 18, 2010

  Bank of Canada Review - Autumn 2010

  

  The premise that exchange rate pass-through has declined is critically reassessed; intensity in the negative feedback process between financial sector developments and the real economy during the recent global crisis is examined; update on past decade’s changing trends in debt issuance in Canada relative to those in other capital markets.

  Content Type(s): Publications, Bank of Canada Review

• Understanding Systemic Risk: The Trade-Offs between Capital, Short-Term Funding and Liquid Asset Holdings

  Staff Working Paper 2010-29 Céline Gauthier, Zhongfang He, Moez Souissi

  We offer a multi-period systemic risk assessment framework with which to assess recent liquidity and capital regulatory requirement proposals in a holistic way.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial stability, Financial system regulation and policies JEL Code(s): C, C1, C15, C8, C81, E, E4, E44, G, G0, G01, G2, G21
• November 9, 2010

  Looking Back, Moving Forward: Canada and Global Financial Reform

  Remarks Mark Carney International Center for Monetary and Banking Studies Geneva, Switzerland

  There is an old saying, “Knowledge is gained from experience, and experience is gained from mistakes.” In Canada, we made our mistakes early and often in the 1970s and 1980s. Our fiscal situation deteriorated sharply, inflation surged to double-digit levels, and a few small regional banks collapsed.

  Content Type(s): Press, Speeches and appearances, Remarks
• November 9, 2010

  Financial Reforms Should Support Economic Growth, Says Bank of Canada Governor Mark Carney

  Media Relations Geneva, Switzerland

  Canada fared relatively well during the global crisis, as a result of good policy and, in retrospect, some good fortune, Bank of Canada Governor Mark Carney said today in a speech to the International Center for Monetary and Banking Studies in Geneva, Switzerland.

  Content Type(s): Press, Press releases

• Trends in U.S. Hours and the Labor Wedge

  Staff Working Paper 2010-28 Simona Cociuba, Alexander Ueberfeldt

  From 1980 until 2007, U.S. average hours worked increased by thirteen percent, due to a large increase in female hours. At the same time, the U.S. labor wedge, measured as the discrepancy between a representative household's marginal rate of substitution between consumption and leisure and the marginal product of labor, declined substantially.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Labour markets, Potential output JEL Code(s): E, E2, E24, H, H2, H20, H3, H31, J, J2, J22

• Has the Inclusion of Forward-Looking Statements in Monetary Policy Communications Made the Bank of Canada More Transparent?

  Staff Discussion Paper 2010-15 Christine Fay, Toni Gravelle

  To investigate the extent to which the transparency of the Bank of Canada's monetary policy has improved, the authors examine empirically – over the period 30 October 2000 to 31 May 2007 – the reaction of Canadian financial markets to official Bank communications, and in particular their reaction to the recent inclusion of forward-looking policy-rate guidance in these communications.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Interest rates, Monetary policy communications, Monetary policy transmission JEL Code(s): E, E5, E52, E58

• Stability versus Flexibility: The Role of Temporary Employment in Labour Adjustment

  Staff Working Paper 2010-27 Shutao Cao, Danny Leung

  In Canada, temporary workers account for 14 per cent of jobs in the non-farm business sector, are present in a range of industries, and account for 40 per cent of the total job reallocation. Yet most models of job reallocation abstract from temporary workers.

  Content Type(s): Staff research, Staff working papers Topic(s): Labour markets, Productivity JEL Code(s): D, D2, D24, J, J3, J32