Housing Price Network Effects from Public Transit Investment: Evidence from Vancouver Staff Working Paper 2018-18 Alex Chernoff, Andrea Craig In this paper, we estimate the effect on housing prices of the expansion of the Vancouver SkyTrain rapid transit network during the period 2001–11. We extend the canonical residential sorting equilibrium framework to include commuting time in the household utility function. Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Economic models, Housing JEL Code(s): H, H4, H41, R, R2, R21, R4, R41
April 26, 2018 Banking and Financial Statistics - April 2018 Content Type(s): Publications, Historical: Banking and Financial Statistics
November 5, 2018 Making sense of financial markets worth the effort, Governor Poloz says Media Relations London, United Kingdom It can be a challenge for central banks to reconcile their views of the economy with signals from financial markets, but the effort is worthwhile, Bank of Canada Governor Stephen S. Poloz says in a speech today. Content Type(s): Press, Press releases
November 5, 2018 Making Sense of Markets Remarks Stephen S. Poloz Canada–UK Chamber of Commerce London, United Kingdom Governor Poloz discusses how the Bank uses financial market information in its monetary policy. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Asset pricing, Financial markets, Interest rates, Monetary policy, Recent economic and financial developments
November 1, 2018 Bank of Canada publishes staff economic projections for the first time Media Relations Ottawa, Ontario Today the Bank of Canada launched a digital database with more than 30 years of past staff economic projections of the Canadian economy. Content Type(s): Press, Press releases
September 30, 2018 Research Update - September 2018 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
November 6, 2018 Government of Canada Cash Management Bond Buyback Program The Bank of Canada and the Department of Finance are announcing today that the pilot for the Government of Canada Cash Management Bond Buyback program will be made permanent. Content Type(s): Press, Market notices
February 19, 2019 Wilfrid Laurier University crowned National Champion of The Governor’s Challenge Media Relations Ottawa, Ontario Wilfrid Laurier University has won the Bank of Canada’s fourth annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council. Content Type(s): Press, Press releases Source(s): The Governor's Challenge
Inequality in Parental Transfers, Borrowing Constraints and Optimal Higher Education Subsidies Staff Working Paper 2019-7 Youngmin Park This paper studies optimal education subsidies when parental transfers are unequally distributed across students and cannot be publicly observed. After documenting substantial inequality in parental transfers among US college students with similar family resources, I examine its implications for how the education subsidy should vary with schooling level and family resources to minimize inefficiencies generated by borrowing constraints. Content Type(s): Staff research, Staff working papers Topic(s): Fiscal policy, Potential output, Productivity JEL Code(s): D, D1, D14, D6, D61, D64, D8, D82, I, I2, I22, J, J2, J24
Liquidity Management of Canadian Corporate Bond Mutual Funds: A Machine Learning Approach Staff Analytical Note 2019-7 Rohan Arora, Chen Fan, Guillaume Ouellet Leblanc When redeeming shares for investors, bond fund managers must choose a mix of cash and bond sales to honour their commitments. This note uses machine learning algorithms to uncover new patterns in decisions fund managers make to meet redemptions. Content Type(s): Staff research, Staff analytical notes Topic(s): Financial markets, Financial stability JEL Code(s): G, G1, G2, G20, G23