Staff research, Publications
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International Spillovers of Large-Scale Asset Purchases
This paper evaluates the international spillover effects of large-scale asset purchases (LSAPs) using a two-country dynamic stochastic general-equilibrium model with nominal and real rigidities, and portfolio balance effects. -
January 21, 2015
Monetary Policy Report – January 2015
Economic growth in Canada is expected to average 2.1 per cent in 2015 and 2.4 per cent in 2016, with a return to full capacity around the end of 2016. -
Measuring Potential Output at the Bank of Canada: The Extended Multivariate Filter and the Integrated Framework
Estimating potential output and the output gap - the difference between actual output and its potential - is important for the proper conduct of monetary policy. However, the measurement and interpretation of potential output, and hence the output gap, is fraught with uncertainty, since it is unobservable. -
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January 12, 2015
Business Outlook Survey - Winter 2014-15
The winter Business Outlook Survey continues to provide signs of strengthening demand, especially among export-oriented firms and manufacturers. However, the outlook for businesses that are linked directly or indirectly to the energy sector has deteriorated. -
January 12, 2015
Senior Loan Officer Survey - Fourth-Quarter 2014
The survey results point to nearly unchanged business-lending conditions during the fourth quarter of 2014. -
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Immigrants and Mortgage Delinquency in the United States
We investigate the relationship between immigrant status and mortgage delinquency in the United States.