Posts

• August 31, 2016

  Research Update - August 2016

  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

• On the Value of Virtual Currencies

  Staff Working Paper 2016-42 Wilko Bolt, Maarten van Oordt

  This paper develops an economic framework to analyze the exchange rate of virtual currency. Three components are important: first, the current use of virtual currency to make payments; second, the decision of forward-looking investors to buy virtual currency (thereby effectively regulating its supply); and third, the elements that jointly drive future consumer adoption and merchant acceptance of virtual currency.

  Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Digital currencies and fintech, Exchange rates JEL Code(s): E, E4, E42, E5, E51, F, F3, F31, G, G1
• August 29, 2016

  Quarterly Financial Report - Second Quarter 2016

  Quarterly Financial Report - Second Quarter 2016 - For the period ended 30 June 2016

  Content Type(s): Publications, Quarterly Financial Report
• August 26, 2016

  Weekly Financial Statistics - 26 August 2016

  Content Type(s): Publications, Historical: Weekly Financial Statistics

• The Impact of Macroprudential Housing Finance Tools in Canada: 2005–10

  Staff Working Paper 2016-41 Jason Allen, Timothy Grieder, Brian Peterson, Tom Roberts

  This paper combines loan-level administrative data with household-level survey data to analyze the impact of recent macroprudential policy changes in Canada using a microsimulation model of mortgage demand of first-time homebuyers.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial system regulation and policies JEL Code(s): C, C6, C63, D, D1, D14, G, G2, G28
• August 25, 2016

  Banking and Financial Statistics - August 2016

  Content Type(s): Publications, Historical: Banking and Financial Statistics

• Leaning Within a Flexible Inflation-Targeting Framework: Review of Costs and Benefits

  Staff Discussion Paper 2016-17 Denis Gorea, Oleksiy Kryvtsov, Tamon Takamura

  This note examines the merits of monetary policy adjustments in response to financial stability concerns, taking into account changes in the state of knowledge since the renewal of the inflation-targeting agreement in 2011. A key financial system vulnerability in Canada is elevated household indebtedness: as more and more households are nearing their debt-capacity limits, the likelihood and severity of a large negative correction in housing markets are also increasing.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Financial stability, Monetary policy framework JEL Code(s): E, E0, E4, E44, E5, E52, E58, G, G1, G18

• Assessment of the Effects of Macroprudential Tightening in Canada

  Staff Analytical Note 2016-12 Martin Kuncl

  During the period of 2008 to 2012, the rules for government-backed mortgage insurance were tightened on four occasions. In this note, we estimate the effects through a simple econometric exercise using a vector error-correction model (VECM).

  Content Type(s): Staff research, Staff analytical notes Topic(s): Credit and credit aggregates, Financial system regulation and policies, Housing JEL Code(s): C, C3, C32, E, E6, E65, G, G2, G28
• August 19, 2016

  Weekly Financial Statistics - 19 August 2016

  Content Type(s): Publications, Historical: Weekly Financial Statistics
• August 18, 2016

  Updates to Terms Governing Government of Canada Securities Auctions

  The Bank of Canada and the Department of Finance Canada have streamlined the terms governing Government of Canada securities auctions and today released a consolidated document: Standard Terms for Auctions of Government of Canada Securities.

  Content Type(s): Press, Market notices