Staff research, Publications
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The New Basel Capital Accord and the Cyclical Behaviour of Bank Capital
The authors conduct a counterfactual simulation of the proposed rules under the new Basel Capital Accord (Basel II), including the revised treatment of expected and unexpected credit losses proposed by the Basel Committee in October 2003. -
Uninsurable Investment Risks
The authors study a general-equilibrium economy in which agents have the ability to invest in a risky technology. -
Monetary and Fiscal Policies in Canada: Some Interesting Principles for EMU?
Choosing a well-designed framework for fiscal and monetary policies is a challenge for economic authorities. -
July 22, 2004
Monetary Policy Report Update – July 2004
Since the April Monetary Policy Report, three developments have led the Bank of Canada to make small modifications to its outlook for economic growth and inflation in Canada. -
July 12, 2004
Business Outlook Survey - Summer 2004
Businesses are somewhat more optimistic about the outlook than they were in the spring, reflecting increased confidence about the robustness of the global economic recovery. -
Financial Market Imperfection, Overinvestment, and Speculative Precaution
The author uses panel data to assess the sensitivity of investment to cash flow in non-financial firms, taking into account the role their financial health plays in investment decisions. -
Regulatory Changes and Financial Structure: The Case of Canada
The author documents some stylized facts about the Canadian financial structure. He explores these empirical facts in the context of Canadian financial legislation and finds that, over the 1990s, Canadian businesses became more heavily dependent on financial markets as their primary source of external funding. -
Money Demand and Economic Uncertainty
The author examines the impact of economic uncertainty on the demand for money. -