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9272 Results

May 6, 2019

Canadian Credit Union Association and the Winnipeg Chamber of Commerce - Speech (Webcasts)

The future of Canada’s mortgage market - Stephen S. Poloz, the Governor of the Bank of Canada, speaks before the Canadian Credit Union Association and the Winnipeg Chamber of Commerce (14:00 (Eastern Time) approx.)

May 6, 2019

Risk Sharing, Flexibility and the Future of Mortgages

Remarks Stephen S. Poloz Canadian Credit Union Association and Winnipeg Chamber of Commerce Winnipeg, Manitoba
Governor Poloz talks about Canada’s housing market and how the mortgage market could evolve to give Canadians more choice, make the economy more flexible and lower the level of financial system risk.
May 6, 2019

Poloz talks mortgages: Innovation could improve flexibility

Speech summary Stephen S. Poloz Canadian Credit Union Association and the Winnipeg Chamber of Commerce Winnipeg, Manitoba
Stephen S. Poloz, Governor of the Bank of Canada, speaks before the Canadian Credit Union Association and the Winnipeg Chamber of Commerce.

Estimating the Effect of Exchange Rate Changes on Total Exports

Staff Working Paper 2019-17 Thierry Mayer, Walter Steingress
This paper shows that real effective exchange rate (REER) regressions, the standard approach for estimating the response of aggregate exports to exchange rate changes, imply biased estimates of the underlying elasticities. We provide a new aggregate regression specification that is consistent with bilateral trade flows micro-founded by the gravity equation.

Assessing Global Potential Output Growth: April 2019

This note presents the updated estimates of potential output growth for the global economy through 2021. Global potential output is expected to grow by 3.3 per cent per year over the projection horizon.

Composite Likelihood Estimation of an Autoregressive Panel Probit Model with Random Effects

Staff Working Paper 2019-16 Kerem Tuzcuoglu
Modeling and estimating persistent discrete data can be challenging. In this paper, we use an autoregressive panel probit model where the autocorrelation in the discrete variable is driven by the autocorrelation in the latent variable. In such a non-linear model, the autocorrelation in an unobserved variable results in an intractable likelihood containing high-dimensional integrals.
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