ElasticSearch Score: 8.291672
Our study aims to gain insight on financial stability and climate transition risk. We develop a methodological framework that captures the direct effects of a stressful climate transition shock as well as the indirect—or systemic—implications of these direct effects. We apply this framework using data from the Canadian financial system.
ElasticSearch Score: 8.208488
How do banks' interconnections in the euro area contribute to the vulnerability of the banking system? We study both the direct interconnections (banks lend to each other) and the indirect interconnections (banks are exposed to similar sectors of the economy). These complex linkages make the banking system more vulnerable to contagion risks.
ElasticSearch Score: 8.16871
We introduce behavioral learning equilibria (BLE) into DSGE models with boundedly rational agents using simple but optimal first order autoregressive forecasting rules. The Smets-Wouters DSGE model with BLE is estimated and fits well with inflation survey expectations. As a policy application, we show that learning requires a lower degree of interest rate smoothing.
ElasticSearch Score: 7.857543
April 27, 2006
The Canadian economy continues to grow at a solid pace, consistent with the Bank’s outlook in the January Monetary Policy Report Update.
ElasticSearch Score: 7.8150263
This equilibrium model explains the trend in long-term yields and business-cycle movements in short-term yields and yield spreads. The less-frequent inverted yield curves (and less-frequent recessions) after the 1990s are due to recent secular stagnation and procyclical inflation expectations.
ElasticSearch Score: 7.7965074
October 20, 2005
The global economy has continued to grow at a robust pace since the July Monetary Policy Report Update.
ElasticSearch Score: 7.5955367
January 29, 2001
The Canadian economy continued to expand robustly in 2000 while inflation remained low.
ElasticSearch Score: 7.431517
October 18, 2007
There have been a number of significant economic and financial developments since the time of the July Monetary Policy Report Update.
ElasticSearch Score: 7.428459
The authors examine how the use of extreme value theory yields collateral requirements that are robust to extreme fluctuations in the market price of the asset used as collateral.
ElasticSearch Score: 7.146516
May 19, 1999
Six months ago, at the time of the last Monetary Policy Report, the global economic and financial environment was volatile and highly uncertain because of the adverse situation in Asia and the fallout from the Russian debt moratorium.