Posts

• An Exploration of First Nations Reserves and Access to Cash

  Staff Discussion Paper 2021-8 Heng Chen, Walter Engert, Kim Huynh, Daneal O’Habib

  Adequate cash distribution is one the Bank of Canada’s core interests. Canadians’ ability to access cash influences the Bank’s thinking on issuing a central bank digital currency. We provide a perspective on these issues by exploring access of First Nations reserves to cash.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Bank notes, Digital currencies and fintech, Financial institutions, Financial services, Payment clearing and settlement systems JEL Code(s): E, E4, E41, E42, E5, G, G2, G21

• Shaping the future: Policy shocks and the GDP growth distribution

  Staff Working Paper 2021-24 Francois-Michel Boire, Thibaut Duprey, Alexander Ueberfeldt

  Can central bank and government policies impact the risks around the outlook for GDP growth? We find that fiscal stimulus makes strong GDP growth more likely—even more so when monetary policy is constrained—rather than weak GDP growth less likely. Thus, fiscal stimulus should accelerate the recovery phase of the COVID-19 pandemic.

  Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Econometric and statistical methods, Financial stability, Fiscal policy, Monetary policy JEL Code(s): C, C3, C32, C5, C53, E, E5, E52, E6, E62
• May 25, 2021

  CARR Meeting (May 25, 2021)

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

• Overlooking the online world: Does mismeasurement of the digital economy explain the productivity slowdown?

  Staff Analytical Note 2021-10 Alejandra Bellatin, Stephanie Houle

  Since the mid-2000s, labour productivity has slowed down in Canada despite enormous technological advances that were expected to improve it. This note investigates whether mismeasurement of the digital economy can explain this paradox.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Productivity JEL Code(s): E, E0, E01, L, L8, L86, O, O3, O33, O4, O5, O51
• May 21, 2021

  Monitoring payment deferrals during the COVID-19 pandemic—update, March 2021

  Geneviève Vallée

  In the initial stages of the COVID-19 pandemic, Canada’s financial institutions allowed households to defer payments on a range of loans. With most of these deferrals having expired, we present updated details of how these loans have performed through to March 2021.

  Content Type(s): Publications, Financial System Hub articles Topic(s): Coronavirus disease (COVID-19), Credit and credit aggregates
• May 21, 2021

  Quarterly Financial Report - First Quarter 2021

  Quarterly Financial Report - First Quarter 2021 - For the period ended March 31, 2021

  Content Type(s): Publications, Quarterly Financial Report
• May 20, 2021

  Release of the Financial System Review

  Opening statement Tiff Macklem Ottawa, Ontario

  Press conference following the release of the Financial System Review.

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Climate change, Cyber security, Financial markets, Financial stability, Financial system regulation and policies, Housing, Recent economic and financial developments
• May 20, 2021

  Financial System Review Summary—2021

  

  Tiff Macklem, Timothy Lane, Lawrence L. Schembri, Paul Beaudry, Toni Gravelle

  The Canadian financial system proved resilient during the COVID-19 pandemic—thanks to strong risk management and unprecedented fiscal and monetary policy support.

  Content Type(s): Publications, Financial Stability Report

• Detecting exuberance in house prices across Canadian cities

  Staff Analytical Note 2021-9 Ugochi Emenogu, Cars Hommes, Mikael Khan

  We introduce a model to detect periods of extrapolative house price expectations across Canadian cities. The House Price Exuberance Indicator can be updated on a quarterly basis to support the Bank of Canada’s broader assessment of housing market imbalances.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Econometric and statistical methods, Financial stability, Housing JEL Code(s): C, C5, C53, R, R2, R21, R3, R31
• May 20, 2021

  Financial System Review—2021

  

  A stable and efficient financial system is essential for sustaining economic growth and raising living standards. In our Financial System Review, we identify the main vulnerabilities and risks in the financial system in Canada and explain how they have evolved over the past year.

  Content Type(s): Publications, Financial Stability Report