Uncategorized

• November 30, 2021

  CFIF Meeting (November 30, 2021)

  Content Type(s): Meetings Source(s): Canadian Fixed-Income Forum
• November 30, 2021

  Research Update - November 2021

  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
• November 29, 2021

  The Indigenous economy in Canada: Partnering to promote

  Presentation (delivered virtually) Lawrence L. Schembri Symposium on Indigenous Economies Ottawa, Ontario

  As part of a panel of central bankers, Deputy Governor Lawrence Schembri speaks about economic reconciliation and why it is “completely consistent with the Bank’s mandate.”

  Content Type(s): Press, Speeches and appearances, Presentations
• November 29, 2021

  Opening Statement before the Symposium on Indigenous Economies

  Opening statement (delivered virtually) Tiff Macklem Symposium on Indigenous Economies Ottawa, Ontario

  Governor Tiff Macklem speaks about the need for a more inclusive economy and says “taking concrete steps toward economic reconciliation is our responsibility too.”

  Content Type(s): Press, Speeches and appearances, Opening statements

• The Countercyclical Capital Buffer and International Bank Lending: Evidence from Canada

  Staff Working Paper 2021-61 David Xiao Chen, Christian Friedrich

  We examine the impact of the CCyB on foreign lending activities of Canadian banks. We show that the announcement of a tightening in another country’s CCyB leads to a decrease in the growth rate of cross-border lending between Canadian banks and borrowers in that other country.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Credit risk management, Financial institutions, Financial stability, Financial system regulation and policies, International topics JEL Code(s): E, E3, E32, F, F2, F21, F3, F32, G, G2, G21, G28

• Bitcoin Adoption and Beliefs in Canada

  Staff Working Paper 2021-60 Daniela Balutel, Christopher Henry, Jorge Vásquez, Marcel Voia

  Using an economic model as well as survey data from the Bank of Canada, we study what factors influence the adoption of Bitcoin in Canada.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Digital currencies and fintech, Econometric and statistical methods, Economic models JEL Code(s): D, D8, D83, O, O3, O33

• Democratic Political Economy of Financial Regulation

  Staff Working Paper 2021-59 Igor Livshits, Youngmin Park

  We offer a theory of how inefficiently lax financial regulation could arise in a democratic society.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Financial stability, Financial system regulation and policies, Housing, Interest rates JEL Code(s): E, E4, E43, E44, G, G0, G01, G2, G21, G28, P, P4, P48

• Discount Rates, Debt Maturity, and the Fiscal Theory

  Staff Working Paper 2021-58 Alexandre Corhay, Thilo Kind, Howard Kung, Gonzalo Morales

  Do bond risk premiums influence the effects of debt maturity operations? Using a model with realistic bond risk premiums, we show that maturity operations have sizable effects on expected inflation and output when the central bank passively responds to inflation and the fiscal authority weakly responds to the debt level.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Fiscal policy, Interest rates, Monetary policy JEL Code(s): E, E4, E43, E44, E6, E63, G, G1, G12
• November 23, 2021

  Checking up on Canada’s financial system

  Speech summary Paul Beaudry Ontario Securities Commission Toronto, Ontario

  Deputy Governor Paul Beaudry speaks about the strength and resilience of the financial system throughout the COVID-19 pandemic and economic recovery. He also outlines key vulnerabilities and risks going forward.

  Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Asset pricing, Central bank research, Climate change, Coronavirus disease (COVID-19), Financial institutions, Financial stability, Housing, Interest rates
• November 23, 2021

  CARR publishes CORRA-related recommendations and key findings in its review of CDOR

  The Canadian Alternative Reference Rate working group (CARR) today published a set of recommendations aimed at facilitating the widespread use of the Canadian Overnight Repo Rate Average (CORRA) in the Canadian financial system.

  Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group