Risk Sharing in the Presence of a Public Good Staff Working Paper 2015-27 Josef Schroth This paper studies an economy where agents can spend resources on consuming a private good and on funding a public good. There is asymmetric information regarding agents’ relative preference for private versus public good consumption. Content Type(s): Staff research, Staff working papers Topic(s): Financial stability, Financial system regulation and policies, Fiscal policy JEL Code(s): D, D8, D82, D86, E, E6, E62, H, H2, H21, H23, H7, H77
On the Welfare Cost of Rare Housing Disasters Staff Working Paper 2015-26 Shaofeng Xu This paper examines the welfare cost of rare housing disasters characterized by large drops in house prices. I construct an overlapping generations general equilibrium model with recursive preferences and housing disaster shocks. Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Economic models, Housing JEL Code(s): E, E2, E21, E4, E44, G, G1, G11, R, R2, R21
July 15, 2015 Bank of Canada lowers overnight rate target to 1/2 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Content Type(s): Press, Press releases
May 28, 2015 Banking and Financial Statistics - May 2015 Content Type(s): Publications, Historical: Banking and Financial Statistics
December 8, 2015 Framework for Conducting Monetary Policy at Low Interest Rates This document outlines a series of monetary policy measures that could be deployed in a very low interest rate environment. Content Type(s): Background materials Topic(s): Monetary policy
December 8, 2015 Results of the 28-day 8 December 2015 Term Repo Operation Results of today's term repo operation. Content Type(s): Press, Market notices
Estimating Canada’s Effective Lower Bound Staff Analytical Note 2015-2 Jonathan Witmer, Jing Yang In 2009, the Bank of Canada set its effective lower bound (ELB) at 25 basis points (bps). Given the recent experience of Sweden, Denmark, Switzerland and the euro area with negative interest rates, we examine the economics of negative interest rates and suggest that cash storage costs are the source of a negative lower bound on interest rates. Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Monetary policy framework, Monetary policy implementation JEL Code(s): D, D5, D53, E, E4, E41, E43, E5, E58
December 7, 2015 Bank of Canada Announces Details of its Term Repo Operation The Bank of Canada announced today that it will conduct a term repo operation. Content Type(s): Press, Market notices
March 27, 2020 Rules Governing Advances to Financial Institutions These Rules serve as policy guidelines and administrative procedures for financial institutions and financial market infrastructures seeking to obtain loans (advances) from the Bank of Canada.
November 26, 2015 Banking and Financial Statistics - November 2015 Content Type(s): Publications, Historical: Banking and Financial Statistics