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1901
result(s)
Managing Operational Risk in Payment, Clearing, and Settlement Systems
Staff Working Paper 2003-2
Kim McPhail
Awareness of operational risk has increased greatly in recent years, both at individual financial institutions and for payment, clearing, and settlement systems (PCSS). PCSS consist of networks of interconnected elements (i.e., central operators, participants, and settlement agents); operational problems at any one of the key elements have the potential to disrupt the system as a whole and negatively affect financial stability.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E44,
G,
G2,
G21
Banking Crises and Contagion: Empirical Evidence
Staff Working Paper 2003-1
Eric Santor
Recent events, such as the East Asian, Mexican, Scandinavian, and Argentinian crises, have sparked considerable interest in exploring how shocks experienced by one country can spread vis-à-vis real and nominal links to other countries' banking systems. Given the large costs associated with banking-system failures, both economists and policy-makers are interested in predicting the onset of banking crises and assessing the likelihood of contagion during crisis events.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
International topics
JEL Code(s):
F,
F3,
F30,
G,
G2,
G20
Money in the Bank (of Canada)
Technical Report No. 93
David Longworth
With the demise of monetary targeting over the past 20 years in many major countries, the question has arisen as to whether central banks should look at money at all when formulating and conducting monetary policy.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Monetary aggregates,
Monetary policy transmission
JEL Code(s):
E,
E5,
E50,
E51,
E52
Salaire réel, chocs technologiques et fluctuations économiques
Staff Working Paper 2002-42
Dominique Tremblay
The author presents empirical evidence that he has obtained from an analysis of the response of different economic variables, including the real wage rate, to a technology shock.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models
JEL Code(s):
C,
C3,
C32,
E,
E2,
E24,
E3,
E32
Estimating Settlement Risk and the Potential for Contagion in Canada's Automated Clearing Settlement System
Staff Working Paper 2002-41
Carol Ann Northcott
Payments systems operate virtually unnoticed in our daily lives and yet are crucial to a wellfunctioning economy and financial system.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E44,
G,
G2,
G21
Inflation Changes, Yield Spreads, and Threshold Effects
Staff Working Paper 2002-40
Greg Tkacz
Using interest rate yield spreads to explain changes in inflation, we investigate whether such relationships can be modelled using two-regime threshold models.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Interest rates
JEL Code(s):
C,
C5,
C51,
E,
E3,
E31
An Empirical Analysis of Dynamic Interrelationships Among Inflation, Inflation Uncertainty, Relative Price Dispersion, and Output Growth
Staff Working Paper 2002-39
Francis Vitek
Within a unified framework, the author conducts an empirical investigation of dynamic interrelationships among inflation, inflation uncertainty, relative price dispersion, and output growth.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices
JEL Code(s):
E,
E3,
E31
Oil-Price Shocks and Retail Energy Prices in Canada
Staff Working Paper 2002-38
Marwan Chacra
The effects of global energy-price shocks on retail energy prices in Canada are examined. More specifically, the author looks at the response of the consumer price indexes for gasoline, heating oil, natural gas, and electricity in Canada to movements in world crude oil prices.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Inflation and prices,
Market structure and pricing
JEL Code(s):
C,
C2,
C22,
C5,
C51,
C53,
Q,
Q4,
Q40
The Performance and Robustness of Simple Monetary Policy Rules in Models of the Canadian Economy
Technical Report No. 92
Denise Côté,
John Kuszczak,
Jean-Paul Lam,
Ying Liu,
Pierre St-Amant
In this report, we evaluate several simple monetary policy rules in twelve private and public sector models of the Canadian economy. Our results indicate that none of the simple policy rules we examined is robust to model uncertainty, in that no single rule performs well in all models.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Monetary policy and uncertainty
JEL Code(s):
E,
E5,
E52,
E58