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1901
result(s)
Financial Crisis Interventions
Staff Working Paper 2016-29
Josef Schroth
This paper develops a model of an economy where bank credit supports both productive investment and individual consumption smoothing in the face of idiosyncratic income risk. Bank credit is constrained by bank equity capital.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Credit and credit aggregates,
Financial stability,
Financial system regulation and policies,
Lender of last resort
JEL Code(s):
E,
E1,
E13,
E3,
E32,
E4,
E44
The Real-Time Properties of the Bank of Canada’s Staff Output Gap Estimates
Staff Working Paper 2016-28
Julien Champagne,
Guillaume Poulin-Bellisle,
Rodrigo Sekkel
We study the revision properties of the Bank of Canada’s staff output gap estimates since the mid-1980s. Our results suggest that the average staff output gap revision has decreased significantly over the past 15 years, in line with recent evidence for the U.S.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Central bank research,
Econometric and statistical methods,
Potential output
JEL Code(s):
C,
C3,
C38,
E,
E1,
E17,
E3,
E32
Clearing and Settlement Systems from Around the World: A Qualitative Analysis
Staff Discussion Paper 2016-14
Michael Tompkins,
Ariel Olivares
As Canada continues to engage in a dialogue to develop the approach to modernizing its core payment systems, we analyze the core payment systems that exist in countries around the world. We study payment systems in 27 jurisdictions, encompassing a broad range of geographic regions, through three levels of analysis.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial services,
Financial system regulation and policies,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E42,
L,
L1,
L14,
L15,
L5,
L52
Implementing Market-Based Indicators to Monitor Vulnerabilities of Financial Institutions
Staff Analytical Note 2016-5
Cameron MacDonald,
Maarten van Oordt,
Robin Scott
This note introduces several market-based indicators and examines how they can further inform the Bank of Canada’s vulnerability assessment of Canadian financial institutions. Market-based indicators of leverage suggest that the solvency risk for major Canadian banks has increased since the beginning of the oil-price correction in the second half of 2014.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Financial institutions,
Financial stability
JEL Code(s):
G,
G1,
G10,
G2,
G21
Timing of Banks’ Loan Loss Provisioning During the Crisis
Staff Working Paper 2016-27
Leo de Haan,
Maarten van Oordt
We estimate a panel error correction model for loan loss provisions, using unique supervisory data on flow of funds into and out of the allowance for loan losses of 25 Dutch banks in the post-2008 crisis period. We find that these banks aim for an allowance of 49% of impaired loans.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Financial stability
JEL Code(s):
G,
G0,
G01,
G2,
G21,
G3,
G32
The Doug Purvis Memorial Lecture—Monetary/Fiscal Policy Mix and Financial Stability: The Medium Term Is Still the Message
Staff Discussion Paper 2016-13
Stephen S. Poloz
In the Doug Purvis Memorial Lecture, Governor Stephen S. Poloz shows how changing the mix of monetary and fiscal policies can yield the same outcomes for growth and inflation, but lead to different results for public sector and private sector debt levels, which can impact financial stability.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Economic models,
Financial stability,
Fiscal policy,
Monetary policy framework
JEL Code(s):
E,
E3,
E37,
E5,
E6,
E63
On the Nexus of Monetary Policy and Financial Stability: Is the Financial System More Resilient?
Staff Discussion Paper 2016-12
Patricia Palhau Mora,
Michael Januska
Monetary policy and financial stability are closely intertwined, and the resilience of the financial system carries weight in this relationship. This paper explores whether the financial system is more resilient as a result of the G20’s post-crisis agenda for financial regulatory reform.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial stability,
Financial system regulation and policies,
Monetary policy framework
JEL Code(s):
E,
E5,
E52,
G,
G0,
G01,
G2,
G21,
G23,
G28
The Impact of Bankruptcy Reform on Insolvency Choice and Consumer Credit
Staff Working Paper 2016-26
Jason Allen,
Kiana Basiri
We examine the impact of the 2009 amendments to the Canadian Bankruptcy and Insolvency Act on insolvency decisions. Rule changes steered debtors out of division I proposals and into the more cost-effective division II proposals.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Credit and credit aggregates,
Financial institutions,
Financial system regulation and policies
JEL Code(s):
D,
D1,
D14,
G,
G2,
K,
K3,
K35
On the Nexus of Monetary Policy and Financial Stability: Effectiveness of Macroprudential Tools in Building Resilience and Mitigating Financial Imbalances
Staff Discussion Paper 2016-11
H. Evren Damar,
Miguel Molico
This paper reviews the Canadian and international evidence of the effectiveness of macroprudential policy measures in building resilience and mitigating financial imbalances. The analysis concludes that these measures have broadly achieved their goal of increasing the overall resilience of the financial system to the buildup of imbalances and increasing the financial system’s ability to withstand adverse shocks.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Credit and credit aggregates,
Financial stability,
Financial system regulation and policies
JEL Code(s):
E,
E5,
E51,
E58,
G,
G1,
G18,
G2,
G28