Staff research, Publications
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Multibank Holding Companies and Bank Stability
This paper studies the relationship between bank holding company affiliation and the individual and systemic risk of banks. Using the 2005 hurricane season in the US as an exogenous shock to bank balance sheets, we show that banks that are part of a holding parent company are more resilient than independent banks. -
October 24, 2018
Monetary Policy Report – October 2018
The Bank projects that the Canadian economy will continue to grow in line with its potential through 2020. -
Introducing a Systematic Measure of Idiosyncratic Prices
There is a risk that Bank of Canada staff may inadvertently be biased when analyzing inflation: when inflation surprises on the downside, staff might emphasize negative idiosyncratic factors. When inflation surprises on the upside, staff might emphasize the positive idiosyncratic factors. -
October 16, 2018
Keeping the financial system healthy
We are all better off if the financial system can weather a storm or two. And every one of us plays a role in keeping it that way. -
October 16, 2018
Navigating digital disruption and the economy
Technology can enhance efficiency and help create new jobs, but challenges like automation's impact on employment also need careful consideration and proactive solutions. -
Is a Cashless Society Problematic?
The use of bank notes in Canada for payments has declined consistently for some time, and similar trends are evident in other countries. This has led some observers to predict a cashless society in the future. -
October 15, 2018
Business Outlook Survey—Autumn 2018
Responses to the autumn Business Outlook Survey indicate that near-term business prospects continue to be robust. Strong demand and elevated capacity pressures support firms’ investment and employment intentions. -
October 15, 2018
Senior Loan Officer Survey—Third Quarter of 2018
Household lending conditions were almost unchanged this quarter, while competition for corporate borrowers continues to drive an easing in business lending conditions. -
The Size and Destination of China’s Portfolio Outflows
The size of China’s financial system raises the possibility that the liberalization of its capital account could have a large effect on the global financial system. This paper provides a counterfactual scenario analysis that estimates what the size and direction of China’s overseas portfolio investments would have been in 2015 if China had had no restrictions on these outflows.