Find Bank of Canada research by keyword, author, content type, JEL code, topic or date of publication.
Receive notification by email whenever new research is added to the website.
1901
result(s)
The Role of Central Banks in Promoting Financial Stability: An International Perspective
Staff Discussion Paper 2016-15
Rose Cunningham,
Christian Friedrich
The 2007–09 global financial crisis has led policy-makers around the world, including central banks, to refocus their efforts to promote financial stability. As part of this process, central banks became quite active in supporting financial stability in a variety of ways, such as publicly sharing their assessments of financial system vulnerabilities and risks and helping to strengthen regulation, supervision and macroprudential measures.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial stability,
Financial system regulation and policies
JEL Code(s):
E,
E5,
G,
G0,
G01,
G2,
G28
Low for Longer? Why the Global Oil Market in 2014 Is Not Like 1986
Staff Analytical Note 2016-11
Bahattin Buyuksahin,
Reinhard Ellwanger,
Kun Mo,
Konrad Zmitrowicz
In the second half of 2014, oil prices experienced a sharp decline, falling more than 50 per cent between June 2014 and January 2015. A cursory glance at this oil price crash suggests similarities to developments in 1986, when the price of oil declined by more than 50 per cent, initiating an episode of relatively low oil prices that lasted for more than a decade.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
International topics,
Recent economic and financial developments
JEL Code(s):
E,
E3,
Q,
Q4,
Q41,
Q43
The Case of Serial Disappointment
Staff Analytical Note 2016-10
Justin-Damien Guénette,
Nicholas Labelle,
Martin Leduc,
Lori Rennison
Similar to those of other forecasters, the Bank of Canada’s forecasts of global GDP growth have shown persistent negative errors over the past five years. This is in contrast to the pre-crisis period, when errors were consistently positive as global GDP surprised to the upside. All major regions have contributed to the forecast errors observed since 2011, although the United States has been the most persistent source of notable errors.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Business fluctuations and cycles,
Domestic demand and components,
Economic models,
International topics,
Monetary policy and uncertainty,
Potential output
JEL Code(s):
E,
E2,
E27,
E6,
E66,
F,
F0,
F01
Global Macro Risks in Currency Excess Returns
Staff Working Paper 2016-32
Kimberly Berg,
Nelson C. Mark
We study a cross section of carry-trade-generated currency excess returns in terms of their exposure to global fundamental macroeconomic risk.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Asset pricing,
Exchange rates,
Interest rates
JEL Code(s):
E,
E2,
E21,
E4,
E43,
F,
F3,
F31,
G,
G1,
G12
The US Labour Market: How Much Slack Remains?
Staff Analytical Note 2016-9
Robert Fay,
James Ketcheson
Despite the US unemployment rate being close to estimates of the non-accelerating-inflation rate of unemployment (NAIRU), measures of underemployment remain elevated, which could be an indication of remaining labour market slack. The shares of involuntary part-time workers and long-term unemployment are high relative to the current stage of the business cycle, suggesting available labour inputs are being underutilized.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
International topics,
Labour markets,
Recent economic and financial developments
JEL Code(s):
E,
E2,
E24,
J,
J2,
J21,
J23
Housing Market Dynamics and Macroprudential Policy
Staff Working Paper 2016-31
Gabriel Bruneau,
Ian Christensen,
Césaire Meh
We perform an analysis to determine how well the introduction of a countercyclical loanto- value (LTV) ratio can reduce household indebtedness and housing price fluctuations compared with a monetary policy rule augmented with house price inflation.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Financial stability,
Housing,
Monetary policy framework,
Monetary policy transmission
JEL Code(s):
E,
E3,
E31,
E4,
E42,
H,
H2,
H23
Crude Oil Prices and Fixed-Asset Cash Spending in the Oil and Gas Industry: Findings from VAR Models
Staff Analytical Note 2016-8
Farrukh Suvankulov
This note investigates the relationship between crude oil prices and investment in the energy sector. We employ a set of vector autoregression (VAR) models (unconstrained VAR, vector error-correction and Bayesian VAR) to formalize the relationship between the West Texas Intermediate (WTI) benchmark and fixed-asset cash spending in the oil and gas extraction and support activities sector of the Canadian economy.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Domestic demand and components,
Econometric and statistical methods
JEL Code(s):
E,
E2,
E22,
E27,
Q,
Q4,
Q43,
Q47
Financial Inclusion—What’s it Worth?
Staff Working Paper 2016-30
Miguel Ampudia,
Michael Ehrmann
The paper studies the determinants of being unbanked in the euro area and the United States as well as the effects of being unbanked on wealth accumulation. Based on household-level data from The Eurosystem Household Finance and Consumption Survey and the U.S. Survey of Consumer Finances, it first documents that there are, respectively, 3.6 per cent and 7.5 per cent of unbanked households in the two economies.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Financial services,
Financial system regulation and policies,
Housing
JEL Code(s):
D,
D1,
D14,
G,
G2,
G21,
G28
Ce que révèle une analyse sectorielle des dynamiques récentes de l’inflation au Canada
Staff Analytical Note 2016-7
Laurence Savoie-Chabot
Decomposing total inflation in Canada as measured by the consumer price index (CPI) into its key macroeconomic factors, as presented in the most recent Monetary Policy Report, is an interesting exercise that shows how the exchange rate pass-through, commodity prices and the output gap have influenced the evolution of the total inflation rate over time. This aggregate approach, however, may mask important sectoral changes.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Exchange rates,
Inflation and prices
JEL Code(s):
E,
E3,
E31