Uncategorized

• September 26, 2016

  Cross-Border Trade Integration and Monetary Policy

  Lecture Stephen S. Poloz Western Washington University Bellingham, Washington

  Governor Stephen S. Poloz discusses global trade integration and the implications for the conduct of monetary policy.

  Content Type(s): Press, Speeches and appearances, Lectures Subject(s): Monetary policy, Economy/Economic growth, Inflation targeting framework
• September 23, 2016

  Weekly Financial Statistics - 23 September 2016

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

• On What States Do Prices Depend? Answers from Ecuador

  Staff working paper 2016-43 Craig Benedict, Mario J. Crucini, Anthony Landry

  In this paper, we argue that differences in the cost structures across sectors play an important role in firms’ decisions to adjust their prices. We develop a menu-cost model of pricing in which retail firms intermediate trade between producers and consumers.

  Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E5, F, F3, F33 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission

• A Primer on Neo-Fisherian Economics

  Staff analytical note 2016-14 Robert Amano, Thomas J. Carter, Rhys R. Mendes

  Conventional models imply that central banks aiming to raise inflation should lower nominal rates and thus stimulate aggregate demand. However, several economists have recently challenged this conventional wisdom in favour of an alternative “neo-Fisherian’’ view under which higher nominal rates might in fact lead to higher inflation.

  Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E4, E5 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission

• The Global Benefits of Low Oil Prices: More Than Meets the Eye

  Staff analytical note 2016-13 Robert Fay, Justin-Damien Guénette, Louis Morel

  Between mid-2014 and early 2016, oil prices fell by roughly 65 per cent. This note documents the channels through which this oil price decline is expected to affect the global economy. One important and immediate channel is through higher expenditures, especially in net oil-importing countries.

  Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E3, E32, E37, F, F0, F01, Q, Q4, Q43 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness
• September 20, 2016

  Lower-for-longer interest rates require adjustments, Governor Poloz says

  Media Relations Québec, Québec

  Canadians need to understand the forces that have led to a prolonged period of low interest rates and make adjustments, Bank of Canada Governor Stephen S. Poloz said.

  Content Type(s): Press, Press releases
• September 20, 2016

  Living with Lower for Longer

  Remarks Stephen S. Poloz Association des économistes québécois, the Cercle finance du Québec and CFA Québec Québec, Québec

  Governor Stephen S. Poloz talks about the adjustments that savers and companies need to make in response to low interest rates, and economic policies that can help.

  Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation targeting framework
• September 16, 2016

  Weekly Financial Statistics - 16 September 2016

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

• Implementing Cross-Border Interbank Lending in BoC-GEM-FIN

  Staff discussion paper 2016-19 Malik Shukayev, Argyn Toktamyssov

  BIS interbank lending data show that the Great Recession generated large and persistent changes in the international interbank lending positions of various countries. The main objective of this study is to understand the role of changes in international interbank credit flows in transmitting shocks across borders.

  Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E2, E27, E3, E37, F, F4, F47 Research Theme(s): Financial system, Financial institutions and intermediation, Models and tools, Economic models, Structural challenges, International trade, finance and competitiveness
• September 14, 2016

  Slow global growth poses risks for financial stability, says Senior Deputy Governor Wilkins

  Media Relations London, United Kingdom

  The decline in the global economy’s potential to grow, and the lower interest rates that come with it, pose risks for financial stability, Bank of Canada Senior Deputy Governor Carolyn Wilkins said today. Those risks can be mitigated through deliberate efforts from the private sector and policy-makers.

  Content Type(s): Press, Press releases