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)
An Optimal Macroprudential Policy Mix for Segmented Credit Markets
Staff Working Paper 2021-31
Jelena Zivanovic
How can macroprudential policy and monetary policy stabilize segmented credit markets? Is there a trade-off between financial stability and price stability? I use a theoretical model to evaluate the performance of alternative policies and find the optimal mix of macroprudential and monetary policy in response to aggregate shocks.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Credit and credit aggregates,
Credit risk management,
Financial stability,
Financial system regulation and policies
JEL Code(s):
E,
E3,
E30,
E4,
E44,
E5,
E50
ToTEM III: The Bank of Canada’s Main DSGE Model for Projection and Policy Analysis
Technical Report No. 119
Paul Corrigan,
Hélène Desgagnés,
José Dorich,
Vadym Lepetyuk,
Wataru Miyamoto,
Yang Zhang
ToTEM III is the most recent generation of the Bank of Canada’s main dynamic stochastic general equilibrium model for projection and policy analysis. The model helps Bank staff tell clear and coherent stories about the Canadian economy’s current state and future evolution.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Business fluctuations and cycles,
Economic models,
Housing,
Interest rates,
Monetary policy
JEL Code(s):
E,
E1,
E17,
E2,
E20,
E3,
E30,
E4,
E40,
E5,
E50,
E6,
E62,
E65,
F,
F4,
F40,
F41,
G,
G5,
G51
Bank Runs, Bank Competition and Opacity
Staff Working Paper 2021-30
Toni Ahnert,
David Martinez-Miera
How is the stability of the financial sector affected by competition in the deposit market and by decisions banks make about transparency? We find that policies that aim to increase bank competition lead to higher bank deposit rates, increasing both withdrawal incentives and instability.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Financial markets,
Financial stability,
Financial system regulation and policies,
Wholesale funding
JEL Code(s):
G,
G0,
G01,
G2,
G21
Measuring and Evaluating Strategic Communications at the Bank of Canada
Staff Discussion Paper 2021-9
Annie Portelance
The Bank of Canada’s Communications Department has developed a framework to quantify and qualify the Bank’s communications efforts and their results. Using data-based measurement and evaluation, the department can assess the impact of the Bank’s communications activities and gauge the department’s contribution to the Bank’s overall goals.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Central bank research,
Credibility,
Monetary policy communications
JEL Code(s):
D,
D8,
D83
A New Measure of Monetary Policy Shocks
Staff Working Paper 2021-29
Xu Zhang
Combining various high frequency financial data with central bank projections, I construct a new measure of monetary policy shocks not predictable by the public information preceding a central bank’s announcements. I then study the causal effects of monetary policy on the macro economy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Central bank research,
Econometric and statistical methods,
Interest rates,
Monetary policy
JEL Code(s):
E,
E5,
G,
G0
Consumer Cash Withdrawal Behaviour: Branch Networks and Online Financial Innovation
Staff Working Paper 2021-28
Heng Chen,
Matthew Strathearn,
Marcel Voia
The physical network of bank branches is important in how consumers manage their cash holdings. This paper estimates how consumer withdrawal behaviour responds to the distance they must travel to their branch.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Digital currencies and fintech
JEL Code(s):
G,
G2,
G21,
R,
R2,
R22
Monetary Policy, Trends in Real Interest Rates and Depressed Demand
Staff Working Paper 2021-27
Paul Beaudry,
Césaire Meh
Over the last few decades, real interest rates have trended downward. The most common explanation is that this reflects depressed demand due to demographic, technological and other real factors. We explore the claim that these trends may have been amplified by certain features of monetary policy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Debt management,
Economic models,
Fiscal policy,
Inflation and prices,
Interest rates,
Monetary policy
JEL Code(s):
E,
E2,
E4,
E43,
E44,
E5,
E52,
E6,
E62,
E63,
H,
H3,
H6,
H63
The Geography of Pandemic Containment
Staff Working Paper 2021-26
Elisa Giannone,
Nuno Paixao,
Xinle Pang
Interconnectedness between US states has affected the evolution of the COVID-19 pandemic. We study the optimal containment policies regulating the movement of goods and people within and between states.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Coronavirus disease (COVID-19),
Economic models,
Regional economic developments
JEL Code(s):
F,
F1,
H,
H0,
I,
I1,
R,
R1
Can regulating bank capital help prevent and mitigate financial downturns?
Staff Analytical Note 2021-12
Alejandro García,
Josef Schroth
Countercyclical capital buffers are regulatory measures developed in response to the global financial crisis of 2008–09. This note focuses on how time-varying capital buffers can improve financial stability in Canada
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Business fluctuations and cycles,
Credit and credit aggregates,
Credit risk management,
Financial stability,
Financial system regulation and policies,
Lender of last resort
JEL Code(s):
E,
E1,
E13,
E3,
E32,
E4,
E44