Posts
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November 28, 2016
C.D. Howe Institute - Speech (Webcasts)
The Role of Services in Canada’s Economy - Stephen S. Poloz, the Governor of the Bank of Canada, delivers the Annual Benefactors’ Lecture, hosted by the C.D. Howe Institute (20:00 (ET) approx.)
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December 31, 2020
Research Update - December 2020
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. -
November 12, 1998
The LVTS—Canada's Large-Value Transfer System
The LVTS is an electronic network for sending and receiving large-value payments. It is expected to become operational in the first half of 1999. Major chartered banks and other large deposit-taking institutions will provide access to the system for their clients in the financial, corporate and government sectors. Canada’s LVTS exceeds world standards for risk control in large-value systems. The author explains how this is achieved through the netting, bilateral and multilateral credit limits, collateral, and loss-sharing procedures used in the event of a default, and, as a last resort, a guarantee by the Bank of Canada. The LVTS gives participating institutions certainty of settlement for their LVTS positions every day, even if one or more participants default. This greatly reduces systemic risk in the financial system. Moreover, the LVTS supports finality of payment; that is, it makes funds unconditionally and irrevocably available to the receiver. Finality is highly desirable when the amount of the payment is substantial, or when exact timing is critical. Since the LVTS will carry the great majority of the value of all payments in Canada, it should be considered the core of the national payments system. -
Electronic Money and Payments: Recent Developments and Issues
The authors review recent developments in retail payments in Canada and elsewhere, with a focus on e-money products, and assess their potential public policy implications. -
December 6, 2005
The Bank of Canada: An Illustrated History
This volume features interesting images and anecdotes about Canada's central bank and its place in Canadian society from 1935 until the present.
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Mesures du taux d'inflation tendanciel
In this paper, the author calculates new measures of the trend inflation rate using changes in the components of total CPI; the hypothesis is that extreme fluctuations in certain prices reflect temporary supply shocks rather than any basic price trend. -
Understanding Productivity: A Review of Recent Technical Research
The authors provide an extensive review of the rapidly expanding research on productivity, both at the macro and micro levels. They focus primarily on papers written about Canada, but also draw on selected studies from other countries, especially the United States, where such work sheds important light on particular aspects of productivity growth. The authors […] -
Digitalization: Prices of Goods and Services
This paper outlines and assesses the various channels through which digitalization can affect prices of goods and services. -
Evaluating Factor Models: An Application to Forecasting Inflation in Canada
This paper evaluates the forecasting performance of factor models for Canadian inflation. This type of model was introduced and examined by Stock and Watson (1999a), who have shown that it is quite promising for forecasting U.S. inflation.