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.
2380
result(s)
Exporting and Investment Under Credit Constraints
Staff Working Paper 2023-10
Kim Huynh,
Robert Petrunia,
Joel Rodrigue,
Walter Steingress
We examine the relationship between firms’ performance and credit constraints affecting export market entry. Using administrative Canadian firm-level data, our findings show that new exporters (a) increase their productivity, (b) raise their leverage ratio and (c) increase investment. We estimate that 48 percent of Canadian manufacturers face binding credit constraints when deciding whether to enter export markets.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Firm dynamics,
International topics,
Productivity
JEL Code(s):
F,
F1,
F10,
F14,
F3,
F36,
G,
G2,
G20,
G28,
G3,
G32
Central Bank Digital Currencies and Banking: Literature Review and New Questions
Staff Discussion Paper 2023-4
James Chapman,
Jonathan Chiu,
Mohammad Davoodalhosseini,
Janet Hua Jiang,
Francisco Rivadeneyra,
Yu Zhu
We review the nascent but fast-growing literature on central bank digital currencies (CBDCs), focusing on their potential impacts on private banks. We evaluate these impacts in three areas of traditional banking: payments, lending and liquidity and maturity transformation. We also take a broader look at CBDCs and highlight two promising directions for future research.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Central bank research,
Digital currencies and fintech,
Financial institutions,
Financial stability
JEL Code(s):
E,
E5,
E50,
E58,
G,
G0,
G00,
L,
L0,
L00
Introducing the Bank of Canada’s Market Participants Survey
Staff Analytical Note 2023-1
Annick Demers,
Tamara Gomes,
Stephane Gignac
The Market Participants Survey (MPS) gathers financial market participants’ expectations for key macroeconomic and financial variables and for monetary policy. This staff analytical note describes the MPS’s objectives and main features, its process and design, and how Bank of Canada staff use the results.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Financial markets,
Monetary policy and uncertainty,
Recent economic and financial developments
JEL Code(s):
C,
C8,
C83,
E,
E4,
E44,
E5,
E52,
E58,
G,
G1,
G12,
G14
Fiscal Stimulus and Skill Accumulation over the Life Cycle
Staff Working Paper 2023-9
Laure Simon
Using micro data from the U.S. Consumer Expenditure Survey and Current Population Survey, I document that government spending shocks affect individuals differently over the life cycle.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Fiscal policy,
Productivity
JEL Code(s):
D,
D1,
D12,
D15,
E,
E2,
E21,
E6,
E62,
J,
J1,
J11,
J2,
J24
Climate Variability and International Trade
Staff Working Paper 2023-8
Geoffrey R. Dunbar,
Walter Steingress,
Ben Tomlin
This paper quantifies the impact of hurricanes on seaborne international trade to the United States. Matching the timing of hurricane–trade route intersections with monthly U.S. port-level trade data, we isolate the unanticipated effects of a hurricane hitting a trade route using two separate identification schemes: an event study and a local projection.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Climate change,
International topics
JEL Code(s):
C,
C2,
C22,
C5,
F,
F1,
F14,
F18,
Q,
Q5,
Q54
Stress Relief? Funding Structures and Resilience to the Covid Shock
Staff Working Paper 2023-7
Kristin Forbes,
Christian Friedrich,
Dennis Reinhardt
Funding structures affected the amount of financial stress different countries and sectors experienced during the spread of COVID-19 in early 2020. Policy responses targeting specific vulnerabilities were more effective at mitigating this stress than those supporting banks or the economy more broadly.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Coronavirus disease (COVID-19),
Exchange rates,
Financial institutions,
Financial stability,
Financial system regulation and policies,
International topics
JEL Code(s):
E,
E4,
E44,
E6,
E65,
F,
F3,
F31,
F36,
F4,
F42,
G,
G1,
G18,
G2,
G23,
G3,
G38
Risk Amplification Macro Model (RAMM)
Technical Report No. 123
Kerem Tuzcuoglu
The Risk Amplification Macro Model (RAMM) is a new nonlinear two-country dynamic model that captures rare but severe adverse shocks. The RAMM can be used to assess the financial stability implications of both domestic and foreign-originated risk scenarios.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods,
Financial stability,
Monetary policy transmission
JEL Code(s):
C,
C5,
C51,
E,
E3,
E37,
E4,
E44,
F,
F4,
F44
(Un)Conventional Monetary and Fiscal Policy
Staff Working Paper 2023-6
Jing Cynthia Wu,
Yinxi Xie
We build a tractable New Keynesian model to study and compare four types of monetary and fiscal policy: policy rate adjustments, quantitative easing, lump-sum fiscal transfers and government spending. We find that tax-financed fiscal policy is more stimulative than debt-financed policy, and optimal policy coordination needs at least two of these four policy instruments.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Fiscal policy,
Monetary policy
JEL Code(s):
E,
E4,
E6,
E61,
E62,
E63
The 2021–22 Surge in Inflation
Staff Discussion Paper 2023-3
Oleksiy Kryvtsov,
James (Jim) C. MacGee,
Luis Uzeda
The rise in inflation in 2021–22 sparked a growing literature and debate over the causes of the surge as well as the near- and medium-term path for inflation. This review offers three key messages.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Inflation and prices,
Inflation targets,
Monetary policy
JEL Code(s):
E,
E3,
E31,
E5,
E52,
E58