Technical reports provide detailed descriptions of staff research project methodologies and model development.
93
result(s)
The Electronic Purse: An Overview of Recent Developments and Policy Issues
Technical Report No. 74
Gerald Stuber
Futurists have been speculating about the prospects for a cashless society for many years, and such predictions became more frequent following the introduction of "smart" cards - cards containing a computer chip - in the mid-1970s.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Digital currencies and fintech,
Financial institutions,
Payment clearing and settlement systems,
Recent economic and financial developments
JEL Code(s):
E,
E4,
E41,
G,
G2,
G20
The Bank of Canada's New Quarterly Projection Model, Part 2. A Robust Method for Simulating Forward-Looking Models
Technical Report No. 73
John Armstrong,
Richard Black,
Douglas Laxton,
David Rose
In this report, we describe methods for solving economic models when expectations are presumed to have at least some element of consistency with the predictions of the model itself. We present analytical results that establish the convergence properties of alternative solution procedures for linear models with unique solutions. Only one method is guaranteed to converge, […]
Content Type(s):
Staff research,
Technical reports
Topic(s):
Economic models
JEL Code(s):
C,
C3,
C32,
C5,
C53
The Bank of Canada's New Quarterly Projection Model, Part 1. The Steady-State Model: SSQPM
Technical Report No. 72
Richard Black,
Douglas Laxton,
David Rose,
Robert Tetlow
This report is the first documenting the Bank of Canada's new model of the Canadian economy, the Quarterly Projection Model (QPM). QPM is used at the Bank of Canada for both economic projections and policy analysis. Here the authors focus on the model's long-run properties, describing SSQPM, a model of the steady state of QPM […]
Content Type(s):
Staff research,
Technical reports
Topic(s):
Economic models
JEL Code(s):
C,
C5,
C51,
E,
E1,
E13
Wealth, Disposable Income and Consumption: Some Evidence for Canada
Technical Report No. 71
Tiff Macklem
The author develops a measure of aggregate private sector wealth in Canada and examines its ability to explain aggregate consumption of non-durables and services. This wealth measure includes financial, physical and human wealth. The author measures human wealth as the expected present value of aggregate labour income, net of government expenditures, based on a discrete […]
Content Type(s):
Staff research,
Technical reports
Topic(s):
Domestic demand and components
JEL Code(s):
D,
D9,
D91,
E,
E2,
E21
The Implications of the FTA and NAFTA for Canada and Mexico
Technical Report No. 70
William White
This report highlights the possible implications of the Free Trade Agreement (FTA) and the North American Free Trade Agreement (NAFTA) for Canada and Mexico. While it is still early, the initial evidence indicates that these treaties are contributing to a continental process of industrial restructuring that will contribute to higher living standards over time. The […]
Content Type(s):
Staff research,
Technical reports
Topic(s):
International topics
JEL Code(s):
F,
F1,
F13
From Monetary Policy Instruments to Administered Interest Rates: The Transmission Mechanism in Canada
Technical Report No. 69
Kevin Clinton,
Donna Howard
The authors investigate interest-rate aspects of the transmission mechanism of monetary policy instruments in Canada, focussing on the stability of the relationships between some key interest rates and the instruments of monetary policy. To determine what shifts may have occurred in recent years, they describe movements in rate differentials, apply cointegration tests and estimate error-correction […]
Content Type(s):
Staff research,
Technical reports
Topic(s):
Monetary policy transmission
JEL Code(s):
E,
E5,
E52
The Microstructure of Financial Derivatives Markets: Exchange-Traded versus Over-the-Counter
Technical Report No. 68
Brenda González-Hermosillo
In this report the author focusses on the microstructure of derivatives markets. While the primary objective is to examine derivatives markets in Canada, the author also discusses certain developments in global derivatives markets that are bound to influence the functioning and development of financial markets in a small, open economy such as Canada's. It is […]
Content Type(s):
Staff research,
Technical reports
Topic(s):
Financial markets
JEL Code(s):
G,
G1,
G10
The Role of House Prices in Regional Inflation Disparities
Technical Report No. 67
Dinah Maclean
Theoretically, house prices will reveal greater disparities between regions than prices for more easily tradable goods and services. This contributes to regional disparities in inflation. In this report the author reviews a range of factors that are likely to cause greater disparities in house price inflation than in the price inflation of other goods and […]
Content Type(s):
Staff research,
Technical reports
Topic(s):
Regional economic developments
Les sources des fluctuations des taux de change en Europe et leurs implications pour l'union monétaire
Technical Report No. 66
Alain DeSerres,
René Lalonde
The objective of this paper is to provide an empirical evaluation of the degree of shock asymmetry between eight European countries that would form the core of a monetary union. Given that the relevant measure is the degree of real shock asymmetry, our approach is to use the observed movement in real exchange rates as […]
Content Type(s):
Staff research,
Technical reports
Topic(s):
Exchange rates
JEL Code(s):
F,
F1,
F15,
F3,
F31