March 14, 2017 Bank of Canada announces 2016-2017 scholarship recipients Media Relations Ottawa, Ontario The Bank of Canada today announced the winners of its Scholarship and Work Placement Program, which is designed to assist Indigenous students and students with disabilities in furthering their education. Content Type(s): Press, Press releases Source(s): Scholarship awards
March 1, 2017 Bank of Canada begins publishing new foreign exchange rate data Media Relations Ottawa, Ontario The Bank of Canada today began publishing new data on the foreign exchange (FX) rate for 26 currencies, intended for statistical, analytical and informational purposes only. Content Type(s): Press, Press releases Source(s): Canadian Foreign Exchange Committee
February 24, 2017 Weekly Financial Statistics - 24 February 2017 Content Type(s): Publications, Historical: Weekly Financial Statistics
The Share of Systematic Variations in the Canadian Dollar—Part II Staff Analytical Note 2017-1 Jean-Sébastien Fontaine, Guillaume Nolin This analytical note examines how much of the systematic variation in the Canadian dollar is attributable to its sensitivity to commodity prices. We introduce a new “oil” portfolio that captures systematic variations when the exchange rates of commodity exporters and commodity importers move in opposite directions. Content Type(s): Staff research, Staff analytical notes Topic(s): Exchange rates JEL Code(s): F, F3, F31
Expropriation Risk and FDI in Developing Countries: Does Return of Capital Dominate Return on Capital? Staff Working Paper 2017-9 M. Akhtaruzzaman, Nathan Berg, Christopher Hajzler Previously reported effects of institutional quality and political risks on foreign direct investment (FDI) are mixed and, therefore, difficult to interpret. We present empirical evidence suggesting a relatively clear, statistically robust, and intuitive characterization. Content Type(s): Staff research, Staff working papers Topic(s): Development economics, International financial markets JEL Code(s): D, D2, D23, F, F2, F21, F23
Adoption Costs of Financial Innovation: Evidence from Italian ATM Cards Staff Working Paper 2017-8 Kim Huynh, Philipp Schmidt-Dengler, Gregor W. Smith, Angelika Welte The discrete choice to adopt a financial innovation affects a household’s exposure to inflation and transactions costs. We model this adoption decision as being subject to an unobserved cost. Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Econometric and statistical methods, Financial services JEL Code(s): C, C3, C35, D, D1, D14, E, E4, E41
Optimal Capital Regulation Staff Working Paper 2017-6 Stéphane Moyen, Josef Schroth We study constrained-efficient bank capital regulation in a model with market-imposed equity requirements. Banks hold equity buffers to insure against sudden loss of access to funding. However, in the model, banks choose to only partially self-insure because equity is privately costly. Content Type(s): Staff research, Staff working papers Topic(s): Credit and credit aggregates, Financial institutions, Financial stability, Financial system regulation and policies JEL Code(s): E, E1, E13, E3, E32, E4, E44
Price-Level Dispersion versus Inflation-Rate Dispersion: Evidence from Three Countries Staff Working Paper 2017-3 David Fielding, Christopher Hajzler, James (Jim) C. MacGee Inflation can affect both the dispersion of commodity-specific price levels across locations (relative price variability, RPV) and the dispersion of inflation rates (relative inflation variability, RIV). Some menu-cost models and models of consumer search suggest that the RIV-inflation relationship could differ from the RPV-inflation relationship. Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices JEL Code(s): E, E3, E31, E5, E50
February 3, 2017 Weekly Financial Statistics - 3 February 2017 Content Type(s): Publications, Historical: Weekly Financial Statistics
January 31, 2017 Building the next generation of economic models is a priority for the Bank of Canada, Governor Poloz says Media Relations Edmonton, Alberta Building the next generation of models that incorporate advances in economic knowledge and technology is a priority for the Bank of Canada, Governor Stephen S. Poloz said today. Content Type(s): Press, Press releases