COVID-19 Crisis: Lessons Learned for Future Policy Research Staff Discussion Paper 2021-2 Jean-Sébastien Fontaine, Corey Garriott, Jesse Johal, Jessica Lee, Andreas Uthemann One year later, we review the events that took place in Canadian fixed-income markets at the beginning of the COVID-19 crisis and propose potential policy research questions for future work. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Coronavirus disease (COVID-19), Financial markets, Monetary policy JEL Code(s): D, D4, D47, E, E4, E41, E5, G, G0, G01, G1, G14, G2, G20, G21, G23
Monetary policy, interest rates and the Canadian dollar Staff Analytical Note 2025-2 Jean-Sébastien Fontaine, Ingomar Krohn, James Kyeong, Rishi Vala, Konrad Zmitrowicz Changes in domestic interest rates affect the value of the Canadian dollar less than changes in the risk premium do. These variations often occur when a broad shift in risk sentiment occurs in global markets. Ultimately, the value of the currency reflects long-term, slow-moving features of the economies. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Asset pricing, Econometric and statistical methods, Exchange rates, Interest rates, Monetary policy JEL Code(s): E, E4, E43, F, F3, F31, G, G1, G12
July 17, 2008 Monetary Policy Report Update – July 2008 Three major developments are affecting the Canadian economy: the protracted weakness in the U.S. economy; ongoing turbulence in global financial markets; and sharp increases in the prices of certain commodities — particularly energy. The first two developments are evolving roughly in line with expectations outlined in the April Monetary Policy Report. Content Type(s): Publications, Monetary Policy Report
December 27, 2005 Analyzing the Evolution of Financial Instability Risk Financial System Review - December 2005 Céline Gauthier, Pierre St-Amant Content Type(s): Publications, Financial System Review articles
On the Evolution of the United Kingdom Price Distributions Staff Working Paper 2018-25 Ba M. Chu, Kim Huynh, David T. Jacho-Chávez, Oleksiy Kryvtsov We propose a functional principal components method that accounts for stratified random sample weighting and time dependence in the observations to understand the evolution of distributions of monthly micro-level consumer prices for the United Kingdom (UK). Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Inflation and prices JEL Code(s): C, C1, C14, C8, C83, E, E3, E31, E37
Innovation and Growth with Financial, and Other, Frictions Staff Working Paper 2011-25 Jonathan Chiu, Césaire Meh, Randall Wright The generation and implementation of ideas, or knowledge, is crucial for economic performance. We study this process in a model of endogenous growth with frictions. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Potential output, Productivity JEL Code(s): E, E4, G, G2, O, O3, O4
May 20, 1996 Monetary Policy Report – May 1996 This Report presents the Bank of Canada’s assessment of the trend of inflation in Canada and explains the monetary policy actions deemed necessary to keep inflation within the Bank’s inflation-control target range. Content Type(s): Publications, Monetary Policy Report
January 13, 2015 Drilling Down - Understanding Oil Prices and Their Economic Impact Remarks Timothy Lane Madison International Trade Association (MITA) Madison, Wisconsin Deputy Governor Timothy Lane discusses the causes of the recent drop in oil prices and its effects on the global and Canadian economies. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Business fluctuations and cycles, Inflation and prices, International topics, Monetary policy, Recent economic and financial developments, Trade integration
The Role of Beliefs in Entering and Exiting the Bitcoin Market Staff Working Paper 2024-22 Daniela Balutel, Christopher Henry, Jorge Vásquez, Marcel Voia We develop a model that links investors’ decisions to enter or exit the Bitcoin market with their beliefs about the survival of Bitcoin. Empirical testing using Canadian data reveals that beliefs strongly influence both entries and exits, and this impact varies with time and ownership status. Content Type(s): Staff research, Staff working papers Research Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): D, D8, D83, E, E4, E41, O, O3, O33
May 11, 2017 Bank of Canada Review - Spring 2017 Some suggest the global economy is facing a fourth industrial revolution. Bank researchers discuss the possible implications of digitalization on the economy. This issue also shares insights on the effectiveness of some unconventional monetary policies in a small open economy, how Government of Canada bonds are used throughout their life cycle, as well as how the Big Six Canadian banks choose their funding strategies and why. The final article examines the slow growth in business investment. Content Type(s): Publications, Bank of Canada Review