April 18, 2017 Blame It on the Machines? Remarks Carolyn A. Wilkins Toronto Region Board of Trade Toronto, Ontario Senior Deputy Governor Carolyn A. Wilkins discusses how automation could affect productivity and the Bank’s monetary policy. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Fintech, Monetary policy, Economy/Economic growth, Inflation targeting framework
November 27, 2008 Fostering Financial System Stability Remarks Pierre Duguay Pictou County Chamber of Commerce Pictou, Nova Scotia The Canadian financial system has fared relatively well through this crisis, thanks to effective regulation and prudent practices that have worked like sandbags to protect our financial system from the storms in today's global economy. Content Type(s): Press, Speeches and appearances, Remarks
April 17, 2013 Monetary Policy Report – April 2013 Following growth of 1.8 per cent in 2012, the Canadian economy is expected to grow by 1.5 per cent in 2013, 2.8 percent in 2014 and 2.7 in 2015, and to reach full capacity in mid-2015, later than anticipated in the January Report. Content Type(s): Publications, Monetary Policy Report
House Price Responses to Monetary Policy Surprises: Evidence from the U.S. Listings Data Staff working paper 2022-39 Denis Gorea, Oleksiy Kryvtsov, Marianna Kudlyak Existing literature documents that house prices respond to monetary policy surprises with a significant delay, taking years to reach their peak response. We present new evidence of a much faster response. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, E52, R, R2, R21, R3, R31 Research Theme(s): Financial system, Household and business credit, Monetary policy, Monetary policy framework and transmission
Central Bank Crisis Interventions: A Review of the Recent Literature on Potential Costs Staff discussion paper 2023-30 Patrick Aldridge, David Cimon, Rishi Vala Central banks’ actions to stabilize financial markets and implement monetary policy during crises may come with costs and side effects. We provide a literature review of these costs and discuss measures that may mitigate the negative impacts of crisis actions. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E5, E58, G, G1, G10, G2, G20 Research Theme(s): Financial system, Financial stability and systemic risk, Monetary policy, Monetary policy tools and implementation
Predicting the Demand for Central Bank Digital Currency: A Structural Analysis with Survey Data Staff working paper 2021-65 Jiaqi Li How much of a CBDC would Canadian households want to hold, and what design features of a CBDC would they care about? Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, E50, E58 Research Theme(s): Monetary policy, Monetary policy tools and implementation, Money and payments, Digital assets and fintech, Retail payments
June 21, 2006 Using the Contingent Claims Approach to Assess Credit Risk in the Canadian Business Sector Financial System Review - June 2006 Michal Kozak, Meyer Aaron, Céline Gauthier Content Type(s): Publications, Financial System Review articles
November 15, 2001 Conference Summary: Revisiting the Case for Flexible Exchange Rates Bank of Canada Review - Autumn 2001 Lawrence L. Schembri This article summarizes the proceedings of an international research conference hosted by the Bank of Canada in November 2000. The conference marked the fiftieth anniversary of Canada's adoption of a flexible exchange rate, and its title recognizes the seminal contribution of Professor Milton Friedman's article "The Case for Flexible Exchange Rates." His keynote address to the conference is also summarized in the article. The conference papers re-examine many of the arguments raised by Friedman using recent developments in economic theory and econometric techniques. They investigate the experience of a wide range of industrialized and emerging-market economies. The main findings are that a strong case can be made for flexible exchange rates in economies that are large commodity exporters and that have credible low-inflation monetary policies and relatively well-developed financial systems. Content Type(s): Publications, Bank of Canada Review articles
Systemic Risk and Portfolio Diversification: Evidence from the Futures Market Staff working paper 2021-50 Radoslav Raykov This paper explores how the Canadian futures market contributed to banks’ systemic risk during the 2008 financial crisis. It finds that core banks as a whole traded against the periphery, in this way increasing their risk of simultaneous losses. Content Type(s): Staff research, Staff working papers JEL Code(s): G, G1, G10, G2, G20 Research Theme(s): Financial markets and funds management, Market functioning, Market structure, Financial system, Financial institutions and intermediation, Financial stability and systemic risk
November 20, 2003 Low and Predictable Inflation and the Performance of Canadian Labour Markets Lecture David Dodge Memorial University of Newfoundland St. John's, Newfoundland and Labrador The goal of Canadian monetary policy is to contribute to solid economic performance and rising living standards. The best way we can do this is by keeping inflation low, stable, and predictable. This has important implications for labour market performance. Content Type(s): Press, Speeches and appearances, Lectures