Core inflation over the COVID-19 pandemic Staff Analytical Note 2022-17 Mikael Khan, Elyse Sullivan We assess the usefulness of various measures of core inflation over the COVID-19 pandemic. We find that Cpi-trim and CPI-median provided the best signal of underlying inflation. The favourable performance of these measures stems from their lack of reliance on historical experience, an especially valuable feature in unprecedented times. Content Type(s): Staff research, Staff analytical notes Topic(s): Econometric and statistical methods, Inflation and prices, Monetary policy JEL Code(s): C, C1, C18, E, E3, E31
November 7, 2022 GMF publishes a consultation paper on a proposed fee for failing to settle GoC securities The Government of Canada Market Functioning Steering Group (GMF) published a consultation paper and an FAQ document today on a proposed fee for failing to settle GoC bond and bill transactions. Content Type(s): Press, Market notices Source(s): Canadian Fixed-Income Forum
Fiscal Policy in the Age of COVID-19: Does It “Get in All of the Cracks”? Staff Working Paper 2022-45 Pierre-Olivier Gourinchas, Şebnem Kalemli-Özcan, Veronika Penciakova, Nicholas Sander The COVID-19 pandemic has caused an atypical recession in which some sectors of the economy boomed and others collapsed. This required a unique fiscal policy reaction to both support firms and stimulate activity in sectors with slack. Was fiscal policy able to get where it was needed? Mostly, yes. Content Type(s): Staff research, Staff working papers Topic(s): Coronavirus disease (COVID-19), Firm dynamics, Fiscal policy, International topics JEL Code(s): D, D5, D57, E, E6, E62, F, F4, F41
November 3, 2022 Summary of Comments – Fall 2022 Debt Management Strategy Consultations Today, the Fall 2022 Debt Management Strategy Consultations Summary is being published in conjunction with the release of the Government of Canada’s Economic and Fiscal Update 2022. Content Type(s): Press, Market notices
November 3, 2022 Bank of Canada webcasts the John Kuszczak Memorial Lecture On Thursday, November 3, 2022, the Bank of Canada will host its annual economic conference. This year’s theme is “Micro data to macro implications and how central bank policies should reflect them.” Academics, policy-makers, private sector economists and representatives from policy think tanks will be among those in attendance. Content Type(s): Press, Media advisories
Considerations for the allocation of non-default losses by financial market infrastructures Staff Analytical Note 2022-16 Daniele Costanzo, Radoslav Raykov Non-default losses of financial market infrastructures (FMIs) have gained attention due to their potential impacts on FMIs and FMI participants, and the lack of a common approach to address them. A key question is, who should absorb these losses? Content Type(s): Staff research, Staff analytical notes Topic(s): Financial markets, Financial system regulation and policies JEL Code(s): G, G2, G23, G28, G3, G32, G33