Staff research, Publications
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Privacy as a Public Good: A Case for Electronic Cash
Cash gives users a high level of privacy when making payments, but the use of cash to make payments is declining. People increasingly use debit cards, credit cards or other methods to pay. -
How Oil Supply Shocks Affect the Global Economy: Evidence from Local Projections
We provide empirical evidence on the impact of oil supply shocks on global aggregates. To do this, we first extract structural oil supply shocks from a standard oil-price determination model found in the literature. -
The Effects of Inflation Targeting for Financial Development
The adoption of inflation targeting (IT) by central banks leads to an increase of 10 to 20 percent in measures of financial development, with a lag. We also find evidence that the financial sector benefits of IT adoption were higher for early-adopting central banks. -
Canadian Securities Lending Market Ecology
This is the fourth of the Financial Markets Department’s descriptions of Canadian financial industrial organization. The paper discusses the organization of the securities lending market in Canada. We outline key characteristics of securities lending contracts, participants in the securities lending market, the market infrastructures that support securities lending activities, and aggregated statistics describing the Canadian market. -
July 11, 2019
IMF Financial System Stability Assessment for Canada
The International Monetary Fund’s comprehensive analysis of the Canadian financial system increases awareness and encourages discussion and debate. The IMF consulted with the Bank of Canada and other Canadian authorities, but the report is an independent assessment and does not represent the views of the Bank. -
July 11, 2019
A Resolution Regime for Financial Market Infrastructures
Canada’s most important payment clearing and settlement systems now have a resolution regime. As resolution authority, the Bank of Canada has new powers to protect the stability of the Canadian financial system in the unlikely event an FMI fails. -
July 10, 2019
Monetary Policy Report – July 2019
The Bank updated its forecast for real economic growth to 1.3 percent this year, 1.9 percent next year and 2.0 percent in 2021. -
The Impact of a Trade War: Assessment of the Current Tariffs and Alternative Scenarios
This note uses Charbonneau and Landry’s (2018) framework to assess the direct impact of the current trade tensions on the Canadian and global economies, as well as possible implications if the conflict escalates further. Overall, my findings show that the estimated impact of current tariffs on real gross domestic product (GDP) remains relatively small, which is in line with the literature on gains from trade, but the impact on trade is much larger. -
June 30, 2019
Research Update - June 2019
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.