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9192 Results

October 12, 2018

Macrofinancial Issues Workshop

This workshop, hosted by our Financial Stability Department, brings together top researchers from Canada and the United States, to discuss macro-financial issues such as the housing market, banking and regulatory policies. This event will be a precursor to two-day annual meetings of academic and business professionals more broadly focused on financial systems issues.
Content Type(s): Conferences and workshops

Following the Money: Evidence for the Portfolio Balance Channel of Quantitative Easing

Staff Working Paper 2018-33 Itay Goldstein, Jonathan Witmer, Jing Yang
Recent research suggests that quantitative easing (QE) may affect a broad range of asset prices through a portfolio balance channel. Using novel security-level holding data of individual US mutual funds, we establish evidence that portfolio rebalancing occurred both within and across funds.
June 27, 2018

Let Me Be Clear: From Transparency to Trust and Understanding

Remarks Stephen S. Poloz Greater Victoria Chamber of Commerce Victoria, British Columbia
Governor Poloz talks about how the Bank is improving communications with the public and helping financial markets understand its monetary policy approach.

Adverse Selection with Heterogeneously Informed Agents

Staff Working Paper 2018-7 Mohammad Davoodalhosseini
A model of over-the-counter markets is proposed. Some asset buyers are informed in that they can identify high quality assets. Heterogeneous sellers with private information choose what type of buyers they want to trade with.

Unconventional Monetary Policy and the Great Recession: Estimating the Macroeconomic Effects of a Spread Compression at the Zero Lower Bound

Staff Working Paper 2012-21 Christiane Baumeister, Luca Benati
We explore the macroeconomic effects of a compression in the long-term bond yield spread within the context of the Great Recession of 2007-2009 via a time-varying parameter structural VAR model.
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