June 28, 2019
Posts
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June 28, 2019
Senior Loan Officer Survey—Second Quarter of 2019
For household lending, mortgage conditions eased, while non-mortgage lending conditions remained unchanged. Overall business lending conditions eased slightly, driven mainly by small and commercial businesses outside the Prairies as well as corporates. -
June 27, 2019
Bank of Canada announces partnership to improve resilience in financial sector
The Bank’s cyber security strategy charts our course to reduce risk and promote resilience for the years 2019 to 2021. -
June 25, 2019
The Tenth International Workshop on Theoretical and Experimental Macroeconomics
Macroeconomic theories have traditionally been tested using non‐experimental data from the field. However, modern, micro‐based macroeconomic models can also be tested in the laboratory, which affords better causal inference, and researchers have begun to pursue such experimental tests. -
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Systemic Risk and Collateral Adequacy
Many derivatives markets use collateral requirements calculated with industry-standard but dated methods that are not designed with systemic risk in mind. This paper explores whether the conservative nature of conventional collateral requirements outweighs their lack of consideration of systemic risk. -
June 17, 2019
Flexible Exchange Rates, Commodity Prices and Price Stability
Deputy Governor Lawrence Schembri speaks before the Economics Society of Northern Alberta (ESNA). -
June 17, 2019
The merits of a floating exchange rate
Deputy Governor Lawrence Schembri explains how Canada’s monetary policy framework—inflation targeting underpinned by a flexible exchange rate—has proved to be the most durable in the post-war period. -
Online Privacy and Information Disclosure by Consumers
A consumer discloses information to a multi-product seller, which learns about the consumer’s preferences, sets prices, and makes product recommendations. While the consumer benefits from accurate product recommendations, the seller may use the information to price discriminate. -
Central Bank Communication That Works: Lessons from Lab Experiments
We use controlled laboratory experiments to test the causal effects of central bank communication on economic expectations and to distinguish the underlying mechanisms of those effects. In an experiment where subjects learn to forecast economic variables, we find that central bank communication has a stabilizing effect on individual and aggregate outcomes and that the size of the effect varies with the type of communication.