Uncategorized

• February 27, 2018

  Summary of Comments – 2018–19 Debt Management Strategy Consultations

  Today, the 2018–19 Debt Management Strategy Consultations Summary is being published in conjunction with the release of the Government of Canada’s Debt Management Strategy for 2018–19.

  Content Type(s): Press, Market notices
• February 27, 2018

  Background information on the bank note legal tender initiative in Budget 2018

  Media Relations Ottawa, Ontario

  The Bank of Canada today published additional information on the federal government’s 2018 budget initiative to seek the authority to remove legal tender status from Canadian bank notes.

  Content Type(s): Press, Press releases
• February 22, 2018

  Banking and Financial Statistics - February 2018

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

• The “Too Big to Fail” Subsidy in Canada: Some Estimates

  Staff Working Paper 2018-9 Patricia Palhau Mora

  Implicit government guarantees of banking-sector liabilities reduce market discipline by private sector stakeholders and temper the risk sensitivity of funding costs. This potentially increases the likelihood of bailouts from taxpayers, especially in the absence of effective resolution frameworks.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial stability JEL Code(s): G, G1, G13, G2, G21, G28
• February 15, 2018

  Anchoring Expectations: Canada’s Approach to Price Stability

  Remarks Lawrence L. Schembri Manitoba Association for Business Economists Winnipeg, Manitoba

  Deputy Governor Lawrence Schembri examines the success of the Bank’s monetary policy framework and explains the review being undertaken before its renewal in 2021.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Credibility, Fiscal policy, Inflation and prices, Inflation targets, Monetary policy framework
• February 12, 2018

  Wilfrid Laurier University crowned National Champion of The Governor’s Challenge

  Media Relations Ottawa, Ontario

  Wilfrid Laurier University has won the Bank of Canada’s third annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council.

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

• High-Frequency Trading and Institutional Trading Costs

  Staff Working Paper 2018-8 Marie Chen, Corey Garriott

  Using data on Canadian bond futures, we examine how high-frequency traders (HFTs) interact with institutions building large positions. In contrast to recent findings, we find HFTs in the data act as small-sized liquidity suppliers, and we reject the hypothesis that they engage in back running, a predatory trading strategy.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Financial system regulation and policies, Market structure and pricing JEL Code(s): G, G1, G14, G2, G20, L, L1, L10
• February 8, 2018

  Inclusive growth can come through innovation, says Senior Deputy Governor Wilkins

  Media Relations Montebello, Quebec

  The digital economy holds promise for higher overall living standards in the future, but it could leave some behind, Senior Deputy Governor Carolyn A. Wilkins told an audience of G7 deputies today. “Technological progress will raise economic growth, although the channels through which it contributed to rising inequality in the past are still forces to […]

  Content Type(s): Press, Press releases
• February 8, 2018

  At the Crossroads: Innovation and Inclusive Growth

  Remarks Carolyn A. Wilkins G7 Symposium on Innovation and Inclusive Growth Montebello, Quebec

  Senior Deputy Governor Carolyn A. Wilkins discusses technological progress and how policy-makers can harness it for economic growth that benefits everyone.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, International topics, Labour markets, Market structure and pricing, Productivity, Recent economic and financial developments

• Adverse Selection with Heterogeneously Informed Agents

  Staff Working Paper 2018-7 Mohammad Davoodalhosseini

  A model of over-the-counter markets is proposed. Some asset buyers are informed in that they can identify high quality assets. Heterogeneous sellers with private information choose what type of buyers they want to trade with.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Financial markets, Financial stability, Financial system regulation and policies, Market structure and pricing JEL Code(s): D, D4, D40, D8, D82, D83, G, G0, G01, G1, G10, G2, G20