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56
result(s)
Sources of Borrowing and Fiscal Multipliers
Staff Working Paper 2018-32
Romanos Priftis,
Srecko Zimic
This paper finds that debt-financed government spending multipliers vary considerably depending on the location of the debt buyer. In a sample of 33 countries, we find that government spending multipliers are larger when government purchases are financed by issuing debt to foreign investors (non-residents), compared with when government purchases are financed by issuing debt to home investors (residents).
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Debt management,
Economic models,
Fiscal policy,
International financial markets
JEL Code(s):
E,
E2,
E6,
E62,
F,
F4,
F41,
H,
H3
The BoC-BoE Sovereign Default Database Revisited: What’s New in 2018?
Staff Working Paper 2018-30
David Beers,
Jamshid Mavalwalla
Until recently, there have been few efforts 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’s Credit Rating Assessment Group (CRAG) has developed a comprehensive database of sovereign defaults posted on the Bank of Canada’s website that now is updated in partnership with the Bank of England.
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
The Government of Canada Debt Securities Data Set
Technical Report No. 112
Jeffrey Gao,
Francisco Rivadeneyra,
Gabriel Rodriguez Rondon
We present the daily time series of the outstanding amounts of all Government of Canada marketable debt securities from July 2001 to June 2017.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Debt management,
Econometric and statistical methods,
Financial markets
JEL Code(s):
C,
C8,
C80,
G,
G1,
G10,
H,
H6,
H63
Do Liquidity Proxies Measure Liquidity in Canadian Bond Markets?
Staff Analytical Note 2017-23
Jean-Sébastien Fontaine,
Jeffrey Gao,
Jabir Sandhu,
Kobe Wu
This analytical note evaluates the reliability of proxies for measuring liquidity in Canadian bond markets. We find that price-impact and bid-ask proxies paint a similar picture of evolving liquidity conditions to that obtained from richer measures of liquidity for benchmark Government of Canada bonds.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Debt management,
Financial markets
JEL Code(s):
G,
G1,
G12,
G14,
G2,
G23,
G3,
G32
May 11, 2017
The Life Cycle of Government of Canada Bonds in Core Funding Markets
Data on the use of government securities in the repo, securities lending and cash markets suggest there are bond market clienteles in Canada. Shorter-term bonds are more prevalent in the repo market, while longer-maturity securities are more active in the securities lending market—consistent with the preferred habitat hypothesis. These results could help design better debt-management strategies and more-effective policies to maintain well-functioning financial markets.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Debt management,
Financial markets
JEL Code(s):
G,
G1,
G12,
G2,
G23
Immigrants and Mortgage Delinquency in the United States
Staff Working Paper 2015-1
Zhenguo Lin,
Yingchun Liu,
Jia Xie
We investigate the relationship between immigrant status and mortgage delinquency in the United States.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Debt management,
Financial stability
JEL Code(s):
G,
G2,
G21,
J,
J1,
J15
Database of Sovereign Defaults, 2017
Technical Report No. 101
David Beers,
Jamshid Mavalwalla
Until recently, there have been few efforts 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’s Credit Rating Assessment Group (CRAG) has developed a comprehensive database of sovereign defaults posted on the Bank of Canada’s website.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Debt management,
Development economics,
Financial stability,
International financial markets
JEL Code(s):
F,
F3,
F34,
G,
G1,
G10,
G14,
G15
Why Do Emerging Markets Liberalize Capital Outflow Controls? Fiscal versus Net Capital Flow Concerns
Staff Working Paper 2013-21
Joshua Aizenman,
Gurnain Pasricha
In this paper, we provide empirical evidence on the factors that motivated emerging economies to change their capital outflow controls in recent decades. Liberalization of capital outflow controls can allow emerging-market economies (EMEs) to reduce net capital inflow (NKI) pressures, but may cost their governments the fiscal revenues that external financial repression generates.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Debt management,
Financial system regulation and policies,
International topics,
Recent economic and financial developments
JEL Code(s):
F,
F3,
F32,
G,
G1,
G15
May 16, 2013
Modelling the Asset-Allocation and Liability Strategy for Canada’s Foreign Exchange Reserves
Bank of Canada Review - Spring 2013
Francisco Rivadeneyra,
Jianjian Jin,
Narayan Bulusu,
Lukasz Pomorski
The Bank of Canada recently developed an asset-liability-matching model to aid in the management of Canada’s foreign exchange reserves. The model allows policy-makers at the Bank and the Department of Finance to analyze asset-allocation and funding-mix decisions by quantifying both the risk-return and liquidity trade-offs for the assets, as well as the risk-cost trade-offs of the funding liabilities.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Debt management,
Foreign reserves management
JEL Code(s):
F,
F3,
F31,
G,
G1,
G11,
G18