Home Equity Extraction and Household Spending in Canada Staff Analytical Note 2019-27 Anson T. Y. Ho, Mikael Khan, Monica Mow, Brian Peterson We use rich microdata to measure home equity extraction in Canada and track its evolution over time. We find home equity extraction has been rising in recent years and has likely contributed materially to dynamics in household spending. Content Type(s): Staff research, Staff analytical notes Topic(s): Financial stability, Housing JEL Code(s): D, D1, D12, E, E2, E21, G, G2, G20
September 19, 2019 Bank of Canada announces Deputy Governor and Special Advisor appointments Media Relations Ottawa, Ontario The Board of Directors of the Bank of Canada today announced the appointment of Toni Gravelle as Deputy Governor, effective October 1, 2019. The Bank also today announced that Mark Hardisty will join the Bank as Special Advisor to the Governor for a two-year term beginning November 6, 2019. Content Type(s): Press, Press releases
September 16, 2019 Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity in Canada during April 2019 Media Relations Ottawa, Ontario During the month of April, the Bank of Canada and 51 other central banks and monetary authorities conducted the latest survey of turnover activity in the foreign exchange and over-the-counter (OTC) derivatives markets in their respective countries. This worldwide effort was coordinated by the Bank for International Settlements (BIS) and is undertaken every three years. Content Type(s): Press, Press releases Source(s): Canadian Foreign Exchange Committee
September 16, 2019 Bank of Canada announces the launch of the 2020 Fellowship Program awards The Bank of Canada is inviting Canadian universities to nominate exceptional academics for its 2020 Fellowship and Governor’s awards. Content Type(s): Press, Announcements Source(s): Fellowship Program
No Double Standards: Quantifying the Impact of Standard Harmonization on Trade Staff Working Paper 2019-36 Julia Schmidt, Walter Steingress Product standards are omnipresent in industrialized societies. Though standardization can be beneficial for domestic producers, divergent product standards have been categorized as a major obstacle to international trade. This paper quantifies the effect of standard harmonization on trade flows and characterizes the extent to which it changes the cost and demand structure of exporting. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, International topics JEL Code(s): F, F1, F13, F14, F15, L, L1, L15
September 10, 2019 Debt Management Strategy Consultations – 2020-21 The Department of Finance and the Bank of Canada are seeking the views of government securities distributors, institutional investors, and other interested parties on issues related to the design and operation of the Government of Canada’s domestic debt program for 2020-21 and beyond. Content Type(s): Press, Market notices
The Simple Economics of Global Fuel Consumption Staff Working Paper 2019-35 Doga Bilgin, Reinhard Ellwanger This paper presents a structural framework of the global oil market that relies on information on global fuel consumption to identify flow demand for oil. We show that under mild identifying assumptions, data on global fuel consumption help to provide comparatively sharp insights on elasticities and other key structural parameters of the global oil market. Content Type(s): Staff research, Staff working papers Topic(s): Economic models JEL Code(s): C, C5, C51, L, L7, L71, Q, Q4, Q41, Q43