May 13, 1998
Posts
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December 6, 2012
Financial System Review - December 2012
The Governing Council judges that the risks to the stability of Canada’s financial system remain high, as they were at the time of the June FSR. The sources of the key risks are similar to those highlighted in June, and emanate primarily from the external environment. -
Unemployment Fluctuations in a Small Open-Economy Model with Segmented Labour Markets: The Case of Canada
The recent financial crisis and subsequent recession have spurred great interest in the sources of unemployment fluctuations. Previous studies predominantly assume a single economy-wide labour market, and therefore abstract from differences across sectorspecific labour markets in the economy. -
November 9, 1994
The Bank of Canada's new Quarterly Projection Model (QPM): An introduction
This article provides an overview of the Bank of Canada's new economic model, the Quarterly Projection Model (QPM), which has been under development at the Bank since 1989. The model has two roles. It is used to make economic projections, which are conducted quarterly and form an important basis for discussions of monetary policy between staff and senior management. QPM is also a research tool: it was developed to analyse important changes to the economy or macroeconomic policies which require a deeper understanding of long-term economic forces. The model pays particular attention to factors shaping long-term equilibrium, such as stocks of wealth, capital, government debt and net foreign assets. Various sources of dynamics, including the adjustment of forward-looking expectations, operate to determine the transition path to equilibrium and the consistency of expectations. The article discusses the history of QPM and earlier economic models at the Bank, and provides a simple overview of how the model works. -
Accounting for Real Exchange Rates Using Micro‐Data
The classical dichotomy predicts that all of the time-series variance in the aggregate real exchange rate is accounted for by non-traded goods in the consumer price index (CPI) basket because traded goods obey the Law of One Price. In stark contrast, Engel (1999) claimed the opposite: that traded goods accounted for all of the variance. -
House Price Responses to Monetary Policy Surprises: Evidence from the U.S. Listings Data
Existing literature documents that house prices respond to monetary policy surprises with a significant delay, taking years to reach their peak response. We present new evidence of a much faster response. -
We Didn’t Start the Fire: Effects of a Natural Disaster on Consumers’ Financial Distress
We use detailed consumer credit data to investigate the impact of the 2016 Fort McMurray wildfire, the costliest wildfire disaster in Canadian history, on consumers’ financial stress. We focus on the arrears of insured mortgages because of their important implications for financial institutions and insurers’ business risk and relevant management practices. -
2022 Methods-of-Payment Survey Report: Cash Use Over 13 Years
We present results from the 2022 Methods-of-Payment Survey, including updated payment shares based on a three-day shopping diary. We also assess various factors associated with long-term trends in cash use. -
January 30, 2004
Annual Report 2003
At the Bank of Canada, we have worked hard over the past several years to define our goals and our methods for achieving them. We have continued to strengthen our monetary policy framework, and we have established priorities in all areas of our operations to help us meet our strategic objectives. In 2002, the Bank set out a medium-term plan for the period 2003–05. The plan’s clearly defined policy frameworks and priorities were critical in guiding our analysis and our decisions in 2003, a year in which Canadians across the country were affected by a number of severe and unanticipated events. -
May 15, 2001
www.bankofcanada.ca—The Bank on the World Wide Web
This article by the Bank's Web master details the development of the Bank's Web site and highlights some of its special features. It includes a description of dataBANK, a custom-built interface to the Bank's economic databases that gives visitors access to 220 data series. It also provides a mini tour of monetary policy material "on site," as well as a taste of things to come. Above all, this article invites you to come and visit our site.