Posts
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Countercyclical Bank Capital Requirement and Optimized Monetary Policy Rules
Using BoC-GEM-Fin, a large-scale DSGE model with real, nominal and financial frictions featuring a banking sector, we explore the macroeconomic implications of various types of countercyclical bank capital regulations. Results suggest that countercyclical capital requirements have a significant stabilizing effect on key macroeconomic variables, but mostly after financial shocks. -
Parallel Tempering for DSGE Estimation
I develop a population-based Markov chain Monte Carlo algorithm known as parallel tempering to estimate dynamic stochastic general equilibrium models. Parallel tempering approximates the posterior distribution of interest using a family of Markov chains with tempered posteriors. -
September 8, 2015
Scholarship awards
The Bank of Canada’s Scholarship and Work Placement program is designed to assist students with disabilities and Indigenous students in furthering their education and to encourage them to take an interest in the work performed by the Bank of Canada. -
Summaries of Central Bank Policy Deliberations: A Canadian Context
This paper provides the context, rationale and key considerations that informed the Bank of Canada’s decision to publish a summary of monetary policy deliberations. It includes an analysis of how other central banks disclose minutes and summaries of their monetary policy deliberations. -
The Causes of Unemployment in Canada: A Review of the Evidence
This paper reviews various competing theories of structural unemployment and considers whether they may be used to explain any of the rise in unemployment experienced by Canada during the most recent economic cycle. -
Import Price Dynamics in Major Advanced Economies and Heterogeneity in Exchange Rate Pass-Through
This paper aims at showing heterogeneity in the degree of exchange rate pass-through to import prices in major advanced economies at three different levels: 1) across destination markets; 2) across types of exporters (distinguishing developed economy from emerging economy exporters); and 3) over time. -
November 7, 1994
The use of Canadian bank notes
This article delves into the microeconomics of note circulation, reviewing main factors affecting the demand for bank notes over the last 50 years, including new technology such as automated banking machines. It also discusses trends in the average value of notes in circulation and in the demand for notes of different denominations. -
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. -
September 9, 2021
Economic progress report: Monetary policy for the recovery
Bank of Canada Governor Tiff Macklem talks about the Bank’s latest interest rate announcement and discusses how the Bank could adjust monetary policy and its quantitative easing program as the recovery progresses.