This paper studies the capital accumulation and welfare implications of reducing capital income taxation in a general equilibrium economy with uninsurable investment risks.
This paper develops a search-theoretic model to study the interaction between banking and monetary policy and how this interaction affects the allocation and welfare. Regarding how banking affects the welfare costs of inflation: First, we find that, with banking, inflation generates smaller welfare costs.
In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 28 November, the Bank of Canada announced today that it will enter into a 28-day TLF transaction as follows:
Today, the Quarterly Bond Schedule is being published on the Bank of Canada's website in conjunction with the release of the NHA MBS Auction Schedule on the Canada Mortgage and Housing Corporation's website.