Posts
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October 12, 2023
Joint BOC-ECB-FRBNY Conference on Expectations Surveys
Conference held on October 12 and 13, 2023 at the Bank of Canada’s Head Office in Ottawa. -
Three things we learned about the Lynx payment system
Canada transitioned to a new wholesale payment system, Lynx, in August 2021. Lynx is based on a real-time settlement model that eliminates credit risk in the system. This model can require more liquidity; however, Lynx’s design allows Canada’s wholesale payments to settle efficiently. -
Labor Market Shocks and Monetary Policy
We develop a heterogeneous-agent New Keynesian model featuring a frictional labor market with on-the-job search to quantitatively study the positive and normative implications of employer-to-employer transitions for inflation. -
Intermediary Market Power and Capital Constraints
We examine how intermediary capitalization affects asset prices in a framework that allows for intermediary market power. We introduce a model in which capital-constrained intermediaries buy or trade an asset in an imperfectly competitive market, and we show that weaker capital constraints lead to both higher prices and intermediary markups. -
Redefining Financial Inclusion for a Digital Age: Implications for a Central Bank Digital Currency
We explore quantitative and qualitative information about Canadians who face barriers to making digital payments. We also consider the implications of ongoing digitalization for modern financial inclusion and a potential central bank digital currency. -
October 3, 2023
Bank of Canada Media Interview – Le Devoir
Nicolas Vincent, Deputy Governor of the Bank of Canada, gave an interview to Le Devoir. -
October 3, 2023
Bank of Canada Media Interview – Midi info
Nicolas Vincent, Deputy Governor of the Bank of Canada, gave an interview to Radio-Canada’s Alec Castonguay. -
October 3, 2023
How price setting influences inflation
Deputy Governor Nicolas Vincent talks about how companies set their prices, how those practices changed during the pandemic and why this remains a risk for inflation. -
October 3, 2023
Understanding the unusual: How firms set prices during periods of high inflation
Deputy Governor Nicolas Vincent discusses how firms set their prices and how pricing behaviour changed in our recent environment of high inflation.