Posts

• August 9, 2021

  Operational details for upcoming secondary market purchases of Government of Canada securities (August 16-27)

  As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).

  Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program

• The uneven economic consequences of COVID 19: A structural analysis

  Staff Analytical Note 2021-17 Martin Kuncl, Austin McWhirter, Alexander Ueberfeldt

  Using a structural model, we study the economic consequences of the COVID-19 shock. The uneven consequences, such as higher unemployment among young households, amplify the negative implications for the macroeconomy, household vulnerabilities and consumption inequality. Government support programs have stimulated the economy and lowered inequality and medium-term vulnerabilities.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Coronavirus disease (COVID-19), Fiscal policy, Monetary policy JEL Code(s): E, E2, E20, E5, E52, E6, E62

• Monetary Policy and the Persistent Aggregate Effects of Wealth Redistribution

  Staff Working Paper 2021-38 Martin Kuncl, Alexander Ueberfeldt

  Monetary policy in the presence of nominal debt and labour supply heterogeneity creates a policy trade-off: a short-term economic stimulus leads to persistently reduced output over the medium term. Price-level targeting weakens this trade-off and is better able to stabilize inflation and output than inflation targeting.

  Content Type(s): Staff research, Staff working papers Topic(s): Monetary policy framework, Monetary policy transmission JEL Code(s): E, E2, E21, E5, E50

• Estimating Large-Dimensional Connectedness Tables: The Great Moderation Through the Lens of Sectoral Spillovers

  Staff Working Paper 2021-37 Felix Brunner, Ruben Hipp

  Understanding the size of sectoral links is crucial to predicting the impact of a crisis on the whole economy. We show that statistical learning techniques substantially outperform traditional estimation techniques when measuring large networks of these links.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods JEL Code(s): C, C2, C22, C5, C52, E, E2, E23, E27
• July 31, 2021

  Research Update - July 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
• July 29, 2021

  Bank of Canada publishes its 2022 schedule for policy interest rate announcements, the release of the Monetary Policy Report and other major publications

  Media Relations Ottawa, Ontario

  The Bank of Canada today published its 2022 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report. It also reconfirmed the scheduled interest rate announcement dates for the remainder of this year.

  Content Type(s): Press, Press releases
• July 28, 2021

  Bank of Canada appoints Ron Morrow as Executive Director – Retail Payments Supervision

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced the appointment of Ron Morrow as Executive Director – Retail Payments Supervision, effective August 9, 2021.

  Content Type(s): Press, Press releases Topic(s): Retail payments supervision
• July 27, 2021

  CFEC Releases Results of April 2021 Foreign Exchange Volume Survey

  The Canadian Foreign Exchange Committee (CFEC) released today the results of its April 2021 semi-annual survey of foreign exchange volumes in Canada.

  Content Type(s): Press, Market notices Source(s): Canadian Foreign Exchange Committee
• July 26, 2021

  Operational details for upcoming secondary market purchases of Government of Canada securities (August 3-13)

  As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).

  Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program
• July 26, 2021

  CARR Meeting (July 26, 2021)

  Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group