Greater Transparency in Monetary Policy: Impact on Financial Markets Technical Report No. 86 Philippe Muller, Mark Zelmer Measures have been taken by the Bank of Canada to increase the transparency of Canadian monetary policy. This paper examines whether the greater transparency has improved financial markets' understanding of the conduct of monetary policy. Content Type(s): Staff research, Technical reports Research Topic(s): Financial markets, Monetary policy implementation JEL Code(s): E, E5, E52, E58, G, G1, G14
BoC–BoE Sovereign Default Database: Methodology, Assumptions and Sources Technical Report No. 117 David Beers, Elliot Jones, John Walsh Until recently, few efforts have been made to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. To help fill this gap, the Bank of Canada (BoC) developed a comprehensive database of sovereign defaults that is posted on its website and updated in partnership with the Bank of England (BoE). Content Type(s): Staff research, Technical reports Research Topic(s): Debt management, Development economics, Financial institutions, International financial markets JEL Code(s): F, F3, F34, G, G1, G10, G14, G15
July 23, 2009 Monetary Policy Report – July 2009 The global economy has suffered an intense, synchronous recession and considerable excess supply has opened up. Content Type(s): Publications, Monetary Policy Report
July 13, 2016 Monetary Policy Report – July 2016 Canadian economic growth is projected to accelerate from 1.3 per cent this year to 2.2 per cent in 2017. Content Type(s): Publications, Monetary Policy Report
The Positive Case for a CBDC Staff Discussion Paper 2021-11 Andrew Usher, Edona Reshidi, Francisco Rivadeneyra, Scott Hendry We discuss the competition and innovation arguments for issuing a central bank digital currency (CBDC). A CBDC could be an effective competition policy tool for payments. A CBDC could also support the vibrancy of the digital economy. It could help solve market failures and foster competition and innovation in new digital payments markets. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Digital currencies and fintech, Financial institutions, Financial stability JEL Code(s): E, E4, E42, E5, E58, L, L4, L5
January 30, 2005 Annual Report 2004 The Bank of Canada has played an integral role in Canadian society for 70 years. When the Bank opened its doors in the spring of 1935, this country was struggling to define itself and to survive the economic and social turmoil of the Great Depression. Like Canada’s economy, its central bank has evolved and grown over the years. It has faced critical challenges and embraced change. But the Bank’s mandate has not changed. It is now, as it was then, to provide an effective, national monetary authority for Canada. Content Type(s): Publications, Annual Report
June 15, 2005 Adjusting to Change Remarks David Dodge Winnipeg Chamber of Commerce Winnipeg, Manitoba Change is the central theme of my remarks today. First, I will talk about some of the changes that have taken place at the Bank of Canada over its 70-year history. Then, I'll talk about some of the changes that are currently taking place in the global economy, as well as how we see our economy - across Canada and right here in Manitoba - adjusting to these changes. Content Type(s): Press, Speeches and appearances, Remarks
Product Sophistication and the Slowdown in Chinese Export Growth Staff Discussion Paper 2017-15 Mark Kruger, Walter Steingress, Sri Thanabalasingam Chinese real export growth decelerated considerably during the last decade. This paper argues that the slowdown largely resulted from China moving to a more sophisticated mix of exports: China produced more sophisticated goods over which it had pricing power instead of producing greater volumes of less sophisticated products. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Development economics, Exchange rates, International topics JEL Code(s): F, F1, F14, F17, O, O1, O10
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 Research Topic(s): Inflation and prices JEL Code(s): E, E3, E31, E5, E50
An Optimal Macroprudential Policy Mix for Segmented Credit Markets Staff Working Paper 2021-31 Jelena Zivanovic How can macroprudential policy and monetary policy stabilize segmented credit markets? Is there a trade-off between financial stability and price stability? I use a theoretical model to evaluate the performance of alternative policies and find the optimal mix of macroprudential and monetary policy in response to aggregate shocks. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Credit and credit aggregates, Credit risk management, Financial stability, Financial system regulation and policies JEL Code(s): E, E3, E30, E4, E44, E5, E50