Posts

• Canadian Bank Notes and Dominion Notes: Lessons for Digital Currencies

  Staff Working Paper 2017-5 Ben Fung, Scott Hendry, Warren E. Weber

  This paper studies the period in Canada when both private bank notes and government-issued notes (Dominion notes) were simultaneously in circulation. Because both of these notes shared many of the characteristics of today's digital currencies, the experience with these notes can be used to draw lessons about how digital currencies might perform.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Financial services JEL Code(s): E, E4, E41, E42, E5, E58

• Stability and Efficiency in Decentralized Two‐Sided Markets with Weak Preferences

  Staff Working Paper 2017-4 Radoslav Raykov

  Many decentralized markets are able to attain a stable outcome despite the absence of a central authority (Roth and Vande Vate, 1990). A stable matching, however, need not be efficient if preferences are weak. This raises the question whether a decentralized market with weak preferences can attain Pareto efficiency in the absence of a central matchmaker.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models JEL Code(s): C, C7, C78, D, D6, D61
• February 10, 2017

  Weekly Financial Statistics - 10 February 2017

  Content Type(s): Publications, Historical: Weekly Financial Statistics
• February 9, 2017

  Getting to the Core of Inflation

  Remarks Lawrence L. Schembri Department of Economics, Western University London, Ontario

  Deputy Governor Lawrence Schembri discusses the uses and measures of core inflation in the conduct of monetary policy.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Business fluctuations and cycles, Central bank research, Inflation and prices, Inflation targets, Monetary policy, Recent economic and financial developments
• February 6, 2017

  Bank of Canada announces winners of the second edition of The Governor’s Challenge

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that the team from McGill University won the second annual Governor’s Challenge, a student competition in which teams simulate the role of advisor to the Bank’s policy-makers.

  Content Type(s): Press, Press releases Source(s): The Governor's Challenge

• Price-Level Dispersion versus Inflation-Rate Dispersion: Evidence from Three Countries

  Staff Working Paper 2017-3 David Fielding, Christopher Hajzler, James (Jim) C. MacGee

  Inflation can affect both the dispersion of commodity-specific price levels across locations (relative price variability, RPV) and the dispersion of inflation rates (relative inflation variability, RIV). Some menu-cost models and models of consumer search suggest that the RIV-inflation relationship could differ from the RPV-inflation relationship.

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices JEL Code(s): E, E3, E31, E5, E50
• February 3, 2017

  Weekly Financial Statistics - 3 February 2017

  Content Type(s): Publications, Historical: Weekly Financial Statistics
• February 3, 2017

  Bank of Canada Announces a Reduction to the Minimum Amount of Government of Canada Nominal Bonds it Acquires at Auction

  The Bank of Canada announced today that it is decreasing its minimum purchase amount of nominal bonds at auctions to 14 per cent from the current 15 per cent level, effective immediately.

  Content Type(s): Press, Market notices

• A Dynamic Factor Model for Nowcasting Canadian GDP Growth

  Staff Working Paper 2017-2 Tony Chernis, Rodrigo Sekkel

  This paper estimates a dynamic factor model (DFM) for nowcasting Canadian gross domestic product. The model is estimated with a mix of soft and hard indicators, and it features a high share of international data.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods JEL Code(s): C, C3, C32, C38, C5, C53, E, E3, E37
• February 2, 2017

  CFIF Meeting (February 2, 2017)

  Content Type(s): Meetings Source(s): Canadian Fixed-Income Forum