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2399
result(s)
Central Bank Communication That Works: Lessons from Lab Experiments
Staff Working Paper 2019-21
Oleksiy Kryvtsov,
Luba Petersen
We use controlled laboratory experiments to test the causal effects of central bank communication on economic expectations and to distinguish the underlying mechanisms of those effects. In an experiment where subjects learn to forecast economic variables, we find that central bank communication has a stabilizing effect on individual and aggregate outcomes and that the size of the effect varies with the type of communication.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Monetary policy implementation,
Monetary policy transmission
JEL Code(s):
C,
C9,
D,
D8,
D84,
E,
E3,
E5,
E52
Outlook for Electric Vehicles and Implications for the Oil Market
Staff Analytical Note 2019-19
Étienne Latulippe,
Kun Mo
The market for electric vehicles (EVs) is growing rapidly. Subsidies and technological improvements are expected to increase the market share of EVs over the coming decade. In its base-case scenario, the International Energy Agency (IEA) expects EV use to rise from 4 million vehicles in 2018 to 120 million by 2030, or from 0.3 per cent to over 7 per cent of the global car fleet.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
International topics
JEL Code(s):
Q,
Q4,
Q47
Online Job Seekers in Canada: What Can We Learn from Bing Job Queries?
Staff Analytical Note 2019-18
André Binette,
Karyne B. Charbonneau,
Nicholas Curtis,
Gabriela Galassi,
Scott Counts,
Justin Cranshaw
Labour markets in Canada and around the world are evolving rapidly with the digital economy. Traditional data are adapting gradually but are not yet able to provide timely information on this evolution.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Central bank research,
Labour markets,
Monetary policy
JEL Code(s):
C,
C8,
C80,
E,
E2,
E24,
J,
J2,
J21
A Structural Model of the Global Oil Market
Staff Analytical Note 2019-17
Reinhard Ellwanger
This note presents a structural vector autoregressive (SVAR) model of the global oil market. The model identifies four types of shocks with different economic interpretations: oil supply shocks, oil-market-specific demand shocks, storage demand shocks and shocks to global economic growth.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Economic models
JEL Code(s):
Q,
Q4,
Q41,
Q43
Bank Market Power and Central Bank Digital Currency: Theory and Quantitative Assessment
Staff Working Paper 2019-20
Jonathan Chiu,
Mohammad Davoodalhosseini,
Janet Hua Jiang,
Yu Zhu
We show that issuing a deposit-like central bank digital currency (CBDC) with a proper interest rate would encourage banks to pay higher interest to keep their customers. Banks would then attract more deposits and offer more loans. Hence, a CBDC would not necessarily crowd out private banking.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Digital currencies and fintech,
Market structure and pricing,
Monetary policy,
Monetary policy framework
JEL Code(s):
E,
E5,
E50,
E58
Assessing the Resilience of the Canadian Banking System
Staff Analytical Note 2019-16
Charles Gaa,
Xuezhi Liu,
Cameron MacDonald,
Xiangjin Shen
The stability of the Canadian financial system, as well as its ability to support the Canadian economy, depends on the ability of financial institutions to absorb and manage major shocks. This is especially true for large banks, which perform services essential to the Canadian economy.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Financial institutions,
Financial stability
JEL Code(s):
C,
C6,
C63,
E,
E2,
E27,
E3,
E37,
E4,
E44,
G,
G0,
G01,
G2,
G21
Reassessing Trade Barriers with Global Value Chains
Staff Working Paper 2019-19
Yuko Imura
This paper provides a systematic, quantitative analysis of the short-run and long-run effects of various trade-restricting policies in the presence of global value chains and multinational production.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Firm dynamics,
International topics,
Trade integration
JEL Code(s):
F,
F1,
F12,
F13,
F4,
F41
Measuring Non-Financial Corporate Sector Vulnerabilities in Canada
Staff Analytical Note 2019-15
Timothy Grieder,
Claire Schaffter
The ratio of non-financial corporate debt to gross domestic product in Canada has increased noticeably in recent years and is currently at an all-time high. In light of this development, we use a unique firm-level dataset to construct vulnerability indicators for the non-financial corporate sector in Canada.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Business fluctuations and cycles,
Credit and credit aggregates,
Financial stability,
Monetary and financial indicators,
Recent economic and financial developments,
Sectoral balance sheet
JEL Code(s):
G,
G0,
G01,
G3,
G32
Reassessing the Growth of HELOCs in Canada Using New Regulatory Data
Staff Analytical Note 2019-14
Leila Al-Mqbali,
Olga Bilyk,
Stefan Caputo,
James Younker
Using new regulatory data on residential secured lending from Canadian banks, we assess the growth rate of home equity lines of credit (HELOCs).
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Credit and credit aggregates,
Financial institutions,
Financial stability,
Recent economic and financial developments
JEL Code(s):
D,
D1,
G,
G2,
G21,
G28