August 5, 2016 Weekly Financial Statistics - 5 August 2016 Content Type(s): Publications, Historical: Weekly Financial Statistics
July 29, 2016 Weekly Financial Statistics - 29 July 2016 Content Type(s): Publications, Historical: Weekly Financial Statistics
July 29, 2016 Research Update - July 2016 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters
July 28, 2016 Banking and Financial Statistics - July 2016 Content Type(s): Publications, Historical: Banking and Financial Statistics
Credit Risk and Collateral Demand in a Retail Payment System Staff Discussion Paper 2016-16 Héctor Pérez Saiz, Gabriel Xerri The recent financial crisis has led to the development of new regulations to control risk in designated payment systems, and the implementation of new credit risk management standards is one of the key issues. In this paper, we study various credit risk management schemes for the Canadian retail payment system (ACSS) that are designed to cover the exposure of a defaulting member. Content Type(s): Staff research, Staff discussion papers Topic(s): Econometric and statistical methods, Financial stability, Payment clearing and settlement systems JEL Code(s): C, C5, C58, G, G2, G21, G23
Starting from a Blank Page? Semantic Similarity in Central Bank Communication and Market Volatility Staff Working Paper 2016-37 Michael Ehrmann, Jonathan Talmi Press releases announcing and explaining monetary policy decisions play a critical role in the communication strategy of central banks. Because of their market-moving potential, it is particularly important how they are drafted. Often, central banks start from the previous statement and update the earlier text with only small changes. Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Financial markets, Interest rates JEL Code(s): E, E4, E43, E5, E52, E58
Output Comovement and Inflation Dynamics in a Two-Sector Model with Durable Goods: The Role of Sticky Information and Heterogeneous Factor Markets Staff Working Paper 2016-36 Tomiyuki Kitamura, Tamon Takamura In a simple two-sector New Keynesian model, sticky prices generate a counterfactual negative comovement between the output of durable and nondurable goods following a monetary policy shock. We show that heterogeneous factor markets allow any combination of strictly positive price stickiness to generate positive output comovement. Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices, Monetary policy transmission JEL Code(s): E, E3, E31, E32, E5, E52