Posts
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Information, Risk Sharing and Incentives in Agency Problems
This paper studies the use of information for incentives and risk sharing in agency problems. When the principal is risk neutral or the outcome is contractible, risk sharing is unnecessary or completely taken care of by a contract on the outcome. -
May 1, 2006
Fixed Income Markets
Proceedings of a conference held by the Bank of Canada, May 2006 (papers in unedited, electronic format only) -
December 1, 2003
The Evolving Financial System and Public Policy
Proceedings of a conference held by the Bank of Canada, December 2003 (proceedings volume, available in electronic format only) -
October 7, 2021
The long and short of it: A balanced vision for the international monetary and financial system
Governor Tiff Macklem advocates for global coordination to strengthen the international monetary and financial system. -
May 6, 2019
Poloz talks mortgages: Innovation could improve flexibility
Stephen S. Poloz, Governor of the Bank of Canada, speaks before the Canadian Credit Union Association and the Winnipeg Chamber of Commerce. -
Consumer Attitudes and the Epidemiology of Inflation Expectations
This paper studies the formation of consumers’ inflation expectations using micro-level data from the Michigan Survey. It shows that beyond the well-established socio-economic determinants of inflation expectations such as gender, income or education, other characteristics such as the households’ financial situation and their purchasing attitudes also matter. -
The Impact of the Global Business Cycle on Small Open Economies: A FAVAR Approach for Canada
Building on the growing evidence on the importance of large data sets for empirical macroeconomic modeling, we use a factor-augmented VAR (FAVAR) model with more than 260 series for 20 OECD countries to analyze how global developments affect the Canadian economy. -
Probing Potential Output: Monetary Policy, Credibility, and Optimal Learning under Uncertainty
The effective conduct of monetary policy is complicated by uncertainty about the level of potential output, and thus about the size of the monetary policy response that would be sufficient to achieve the targeted inflation rate. One possible response to such uncertainty is for the monetary authority to "probe," interpreted here as actively using its policy response to learn about the level of potential output. -
January 20, 2016
Monetary Policy Report Press Conference Opening Statement
Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.