Posts

• Housing Price Network Effects from Public Transit Investment: Evidence from Vancouver

  Staff Working Paper 2018-18 Alex Chernoff, Andrea Craig

  In this paper, we estimate the effect on housing prices of the expansion of the Vancouver SkyTrain rapid transit network during the period 2001–11. We extend the canonical residential sorting equilibrium framework to include commuting time in the household utility function.

  Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Economic models, Housing JEL Code(s): H, H4, H41, R, R2, R21, R4, R41
• May 1, 2018

  Bank of Canada policy helps manage risks from debt, Governor Poloz says

  Media Relations Yellowknife, Northwest Territories

  Elevated household debts make the Canadian economy more vulnerable to events that could affect growth and financial stability, and the Bank of Canada’s cautious approach to monetary policy is helping manage the risks, Governor Stephen S. Poloz said today. In a speech to the Yellowknife Chamber of Commerce, Governor Poloz said that high household debt […]

  Content Type(s): Press, Press releases
• May 1, 2018

  Canada’s Economy and Household Debt: How Big Is the Problem?

  Remarks Stephen S. Poloz Yellowknife Chamber of Commerce Yellowknife, Northwest Territories

  Governor Poloz talks about household debt and how it will affect Canada’s economy and monetary policy for years.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Credit and credit aggregates, Financial services, Financial stability, Interest rates, Monetary policy, Recent economic and financial developments

• How to Manage Macroeconomic and Financial Stability Risks: A New Framework

  Staff Analytical Note 2018-11 Alexander Ueberfeldt, Thibaut Duprey

  Financial system vulnerabilities increase the downside risk to future GDP growth. Macroprudential tightening significantly reduces financial stability risks associated with vulnerabilities. Monetary policy faces a trade-off between financial stability and macroeconomic risks.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Economic models, Financial stability, Financial system regulation and policies, Interest rates, Monetary policy, Monetary policy framework JEL Code(s): E, E4, E44, E5, E52, E58, G, G0, G01
• April 30, 2018

  Research Update - April 2018

  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.

  Content Type(s): Staff research, Research newsletters

• A Policy Framework for E-Money: A Report on Bank of Canada Research

  Staff Discussion Paper 2018-5 Mohammad Davoodalhosseini, Francisco Rivadeneyra

  We present a policy framework for electronic money and payments. The framework poses a set of positive questions related to the areas of responsibility of central banks: payments systems, monetary policy and financial stability. The questions are posed to four broad forms of e-money: privately or publicly issued, and with centralized or decentralized verification of transactions. This framework is intended to help evaluate the trade-offs that central banks face in the decision to issue new forms of e-money.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Digital currencies and fintech, Monetary policy, Payment clearing and settlement systems JEL Code(s): E, E4, E41, E5, E51, E52, E58
• April 26, 2018

  Banking and Financial Statistics - April 2018

  Content Type(s): Publications, Historical: Banking and Financial Statistics
• April 25, 2018

  Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce

  Opening statement Stephen S. Poloz Standing Senate Committee on Banking, Trade and Commerce Ottawa, Ontario

  Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I are pleased to be back before you today to discuss the Bank’s Monetary Policy Report (MPR), which we published last week. When we were last here at the beginning of November, we saw signs that the Canadian economy was moderating after an […]

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Inflation and prices, Monetary policy, Monetary policy transmission, Recent economic and financial developments
• April 24, 2018

  CFIF Meeting (April 24, 2018)

  Content Type(s): Meetings Source(s): Canadian Fixed-Income Forum
• April 23, 2018

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Stephen S. Poloz House of Commons Standing Committee on Finance Ottawa, Ontario

  Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I are pleased to be with you today to discuss the Bank’s Monetary Policy Report (MPR), which we published last week. At the time of our last appearance in October, we saw signs that the Canadian economy was moderating after an exceptionally strong […]

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Inflation and prices, Monetary policy, Monetary policy transmission, Recent economic and financial developments