Posts
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Risk Sharing in the Presence of a Public Good
This paper studies an economy where agents can spend resources on consuming a private good and on funding a public good. There is asymmetric information regarding agents’ relative preference for private versus public good consumption. -
On the Welfare Cost of Rare Housing Disasters
This paper examines the welfare cost of rare housing disasters characterized by large drops in house prices. I construct an overlapping generations general equilibrium model with recursive preferences and housing disaster shocks. -
July 15, 2015
Release of the Monetary Policy Report
Press conference following the release of the Monetary Policy Report. -
July 15, 2015
Bank of Canada lowers overnight rate target to 1/2 per cent
The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. -
July 15, 2015
Monetary Policy Report – July 2015
Economic growth in Canada is projected to average just over 1 per cent in 2015 and about 2 1/2 per cent in 2016 and 2017. -
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July 6, 2015
Business Outlook Survey - Summer 2015
The summer Business Outlook Survey points to a diverging outlook across regions. While there are some encouraging signs, owing in part to strengthening U.S. demand, weak oil prices continue to significantly dampen economic perspectives in affected sectors and regions. -
July 6, 2015
Senior Loan Officer Survey - Second-Quarter 2015
The survey results suggest that, overall, business-lending conditions were broadly unchanged during the second quarter of 2015. -