Posts

• September 30, 2018

  Research Update - September 2018

  This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website.

  Content Type(s): Staff research, Research newsletters
• September 28, 2018

  The benefits of freer trade

  

  Stephen Murchison, Alex Chernoff

  Freer trade lowers prices and boosts economies, yet not everyone benefits equally. Fair policies are essential for balanced growth and widespread prosperity.

  Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Balance of payments and components, Development economics, International topics, Recent economic and financial developments, Trade integration
• September 28, 2018

  Welcome to The Economy, Plain and Simple

  

  Donald Coletti

  The economy starts with you.

  Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Credibility, Monetary policy communications, Recent economic and financial developments
• September 28, 2018

  Bank of Canada launches The Economy, Plain and Simple

  Media Relations Ottawa, Ontario

  Today, the Bank of Canada launched a new digital publication to help Canadians better understand the economy.

  Content Type(s): Press, Press releases
• September 27, 2018

  Canada is seizing opportunities from new digital technology, Governor Poloz says

  Media Relations Moncton, New Brunswick

  Canadians are seizing the opportunities provided by the spread of digital technology, Governor Stephen S. Poloz said in a speech today. While people working in disrupted industries need help in order to adapt, the overall benefits of new technology are beyond question, he said.

  Content Type(s): Press, Press releases
• September 27, 2018

  Technological Disruption and Opportunity

  Remarks Stephen S. Poloz Atlantic Provinces Economics Council and Greater Moncton Chamber of Commerce Moncton, New Brunswick

  Governor Poloz talks about how new digital technologies create opportunities in the economy and affect how the Bank conducts monetary policy.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Domestic demand and components, Inflation and prices, Labour markets, Monetary policy, Potential output, Productivity

• Monetary Policy Uncertainty: A Tale of Two Tails

  Staff Working Paper 2018-50 Tatjana Dahlhaus, Tatevik Sekhposyan

  We document a strong asymmetry in the evolution of federal funds rate expectations and map this observed asymmetry into measures of monetary policy uncertainty. We show that periods of monetary policy tightening and easing are distinctly related to downside (policy rate is higher than expected) and upside (policy rate is lower than expected) uncertainty.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Monetary policy and uncertainty, Monetary policy communications, Monetary policy transmission JEL Code(s): C, C1, C18, C3, C32, E, E0, E02, E4, E43, E5, E52
• September 25, 2018

  Debt Management Strategy Consultations – 2019-20

  The Department of Finance and the Bank of Canada are seeking the views of government securities distributors, institutional investors, and other interested parties on issues related to the design and operation of the Government of Canada’s domestic debt program for 2019–20 and beyond.

  Content Type(s): Press, Market notices

• Have Liquidity and Trading Activity in the Canadian Corporate Bond Market Deteriorated?

  Staff Analytical Note 2018-31 Chen Fan, Sermin Gungor, Guillaume Nolin, Jun Yang

  Since 2010, the liquidity of corporate bonds has improved on average, while their trading activity has remained stable. We find that the liquidity and trading activity of riskier bonds or bonds issued by firms in different sectors have been stable. However, the liquidity and trading activity of bonds issued by banks have improved. We observe short-lived episodes of deterioration in liquidity and trading activity.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Financial markets JEL Code(s): G, G1, G12, G14

• Financial Development Beyond the Formal Financial Market

  Staff Working Paper 2018-49 Lin Shao

  This paper studies the effects of financial development, taking into account both formal and informal financing. Using cross-country firm-level data, we document that informal financing is utilized more by rich countries than poor countries.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Firm dynamics, Productivity JEL Code(s): E, E4, E44, O, O1, O17, O4, O47