Supply Drivers of US Inflation Since the COVID-19 Pandemic Staff Working Paper 2023-19 Serdar Kabaca, Kerem Tuzcuoglu This paper examines the contribution of several supply factors to US headline inflation since the start of the COVID-19 pandemic. We identify six supply shocks using a structural VAR model: labor supply, labor productivity, global supply chain, oil price, price mark-up and wage mark-up shocks. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Inflation and prices JEL Code(s): C, C3, C32, E, E3, E31, E32
January 25, 2007 Monetary Policy and Developments in the Global and Canadian Economies Remarks David Dodge Canadian Netherlands Business and Professional Association, and the European Union Chamber of Commerce in Toronto Toronto, Ontario The Bank of Canada has been around for over 70 years. Throughout this period, the Bank has had one over-arching mandate: to promote the economic and financial welfare of Canadians. Over the years, we have learned that the best contribution that monetary policy can make in this regard is to give Canadians confidence in the future value of their money. Content Type(s): Press, Speeches and appearances, Remarks
October 31, 2014 Research Update - October 2014 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
October 21, 2015 Monetary Policy Report – October 2015 Canada’s economy is expected to grow by 1.1 per cent this year before accelerating to 2.0 per cent in 2016 and 2.5 per cent in 2017. Content Type(s): Publications, Monetary Policy Report
Composition of International Capital Flows: A Survey Staff Working Paper 2010-33 Koralai Kirabaeva, Assaf Razin We survey several key mechanisms that explain the composition of international capital flows: foreign direct investment, foreign portfolio investment and debt flows (bank loans and bonds). In particular, we focus on the following market frictions: asymmetric information in capital markets and exposure to liquidity shocks. Content Type(s): Staff research, Staff working papers Research Topic(s): International topics JEL Code(s): D, D8, D82, F, F2, F21, F3, F34
A Survey and Risk Analysis of Selected Non-Bank Retail Payments Systems Staff Discussion Paper 2008-17 Nikil Chande Payment services offered by non-banks have flourished in recent years. The author provides an overview of the different kinds of non-bank retail payments schemes currently available in Canada, illustrating each by focusing on a specific example. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial services, Payment clearing and settlement systems JEL Code(s): D, D1, D14, G, G2, G20
The Impact of a Trade War: Assessment of the Current Tariffs and Alternative Scenarios Staff Analytical Note 2019-20 Karyne B. Charbonneau This note uses Charbonneau and Landry’s (2018) framework to assess the direct impact of the current trade tensions on the Canadian and global economies, as well as possible implications if the conflict escalates further. Overall, my findings show that the estimated impact of current tariffs on real gross domestic product (GDP) remains relatively small, which is in line with the literature on gains from trade, but the impact on trade is much larger. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Recent economic and financial developments, Trade integration JEL Code(s): F, F1, F11, F13, F14, F15, F5, F50, F6, F62, F68
Capital Flows and Macroprudential Policies - A Multilateral Assessment of Effectiveness and Externalities Staff Working Paper 2014-31 John Beirne, Christian Friedrich This paper assesses the effectiveness and associated externalities that arise when macroprudential policies (MPPs) are used to manage international capital flows. Using a sample of up to 139 countries, we examine the impact of eight different MPP measures on cross-border bank flows over the period 1999-2009. Content Type(s): Staff research, Staff working papers Research Topic(s): Balance of payments and components, Financial markets, International topics JEL Code(s): F, F3, F5, G, G0, G01, G1, G11
December 21, 2008 Liquidity Risk at Banks: Trends and Lessons Learned from the Recent Turmoil Financial System Review - December 2008 Jim Armstrong Content Type(s): Publications, Financial System Review articles
September 30, 2015 Research Update - September 2015 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