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786
result(s)
IMPACT: The Bank of Canada’s International Model for Projecting Activity
Technical Report No. 116
Patrick Blagrave,
Claudia Godbout,
Justin-Damien Guénette,
René Lalonde,
Nikita Perevalov
We present the structure and features of the International Model for Projecting Activity (IMPACT), a global semi-structural model used to conduct projections and policy analysis at the Bank of Canada. Major blocks of the model are developed based on the rational error correction framework of Kozicki and Tinsley (1999), which allows the model to strike a balance between theoretical structure and empirical performance.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods,
Economic models,
International topics
JEL Code(s):
C,
C6,
C68,
E,
E2,
E27,
E3,
E37,
F,
F0,
F01,
F3,
F32,
F4,
F47
A Financial Stability Analysis of Zombie Firms in Canada
Staff Analytical Note 2020-3
Timothy Grieder,
Juan Ortega
We measure the prevalence of zombie firms in Canada and assess how they could potentially affect the financial system.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Credit and credit aggregates,
Financial stability,
Sectoral balance sheet
JEL Code(s):
G,
G3,
G32
Characterizing Breadth in Canadian Economic Activity
Staff Analytical Note 2020-1
Taylor Webley,
Carla Valerio,
Maureen MacIsaac
Real growth in gross domestic product tends to be meaningfully higher when a large share of industries and demand components are growing—that is, when growth is broad across many fronts.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Business fluctuations and cycles
JEL Code(s):
E,
E3,
E32
Social Learning and Monetary Policy at the Effective Lower Bound
Staff Working Paper 2020-2
Jasmina Arifovic,
Alex Grimaud,
Isabelle Salle,
Gauthier Vermandel
This research develops a model in which the economy is directly influenced by how pessimistic or optimistic economic agents are about the future. The agents may hold different views and update them as new economic data become available.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Central bank research,
Credibility,
Economic models,
Monetary policy,
Monetary policy communications
JEL Code(s):
C,
C8,
C82,
E,
E3,
E32,
E5,
E52
Furor over the Fed : Presidential Tweets and Central Bank Independence
Staff Analytical Note 2019-33
Antoine Camous,
Dmitry Matveev
We illustrate how market data can be informative about the interactions between monetary and fiscal policy. Federal funds futures are private contracts that reflect investor’s expectations about monetary policy decisions.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Central bank research,
Credibility,
Financial markets,
Monetary policy
JEL Code(s):
E,
E4,
E44,
E5,
E52,
E58
Changing Fortunes: Long-Termism—G-Zero, Artificial Intelligence and Debt
Staff Discussion Paper 2019-12
Stephen S. Poloz
This paper discusses three long-term forces that are acting on the global economy and their implications for companies and policy-makers.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial stability,
International topics,
Monetary policy,
Monetary policy and uncertainty,
Trade integration
JEL Code(s):
E,
E6,
E63,
F,
F0,
F02,
F1,
F15,
F5,
F53,
F6,
H,
O,
O1,
O11,
O3,
O33
November 19, 2019
Researching the Economic Impacts of Climate Change
The Bank of Canada has a mandate to “promote the economic and financial welfare of Canada,” primarily through the conduct of monetary policy and promotion of a safe, sound and efficient financial system. Understanding the macroeconomic and financial system impacts of climate change and the transition to a low-carbon economy is therefore a priority for the Bank.
Content Type(s):
Staff research,
Other
Topic(s):
Climate change
Amazon Effects in Canadian Online Retail Firm-Product-Level Data
Staff Working Paper 2019-42
Alex Chernoff
I use firm-product-level data for Canadian online retailers to study how product scope (the average number of product categories per firm) evolved from 1999 to 2012. During this period, product scope dropped monotonically from 59 to 5 product categories.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Firm dynamics,
Service sector
JEL Code(s):
D,
D2,
D22,
L,
L1,
L11,
L8,
L81
The BoC-BoE Sovereign Default Database: What’s New in 2019?
Staff Working Paper 2019-39
David Beers,
Patrisha de Leon-Manlagnit
Until recently, few efforts have been made to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. To help fill this gap, the Bank of Canada (BoC) developed a comprehensive database of sovereign defaults that is posted on its website and updated in partnership with the Bank of England (BoE).
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Debt management,
Development economics,
Financial stability,
International financial markets
JEL Code(s):
F,
F3,
F34,
G,
G1,
G10,
G14,
G15