ElasticSearch Score: 5.2508254
December 23, 2005
The financial system makes an important contribution to the welfare of all Canadians. The ability of households and firms to confidently hold and transfer financial assets is one of the fundamental building blocks of the Canadian economy.
ElasticSearch Score: 5.2387643
In recent years, the Canadian economy has been affected by strong movements in relative prices brought about by the surging costs of energy and non-energy commodities, with significant implications for the terms of trade, the exchange rate, and the allocation of resources across Canadian sectors and regions.
ElasticSearch Score: 5.200374
The decline in safe real interest rates over the past three decades has reignited discussions on the neutral real interest rate, known as R*. We address the determinants and estimation methods of R*, as well as the factors influencing its decline and its future trajectory.
ElasticSearch Score: 5.181606
June 21, 2008
Although there has been some improvement in conditions over the past several weeks, strains in global credit markets have broadened since December.
FSR Highlights - June 2008
Errata: Some factual errors in the June report "Bank of Canada Oversight Activities during 2007 under the Payment Clearing and Settlement Act" have been corrected. They concern (i) clarification of the U.S. Federal Reserve as lead overseer of CLS Bank and (ii) the steps taken by CDS on 14 August 2007 to assist issuers and participants holding defaulted ABCP.
ElasticSearch Score: 5.168289
June 21, 2009
Policy-makers around the world met the intensification of the global financial crisis at the end of 2008 with a forceful response aimed at restoring confidence in the global financial system, promoting the flow of credit, and supporting economic activity.
FSR Highlights - June 2009
Erratum: Legends for Chart 13 on page 15 of the June 2009 issue should read: Argentina (right scale), Mexico (left scale). See revised chart.
ElasticSearch Score: 5.1667624
The Bank of Canada is one of very few central banks that has made records of the intraday timing of its intervention operations available to researchers.
ElasticSearch Score: 5.1533065
June 25, 2005
Cover page
African Marriage Money
The metal marriage currencies pictured on the cover are part of the National Currency Collection, Bank of Canada.
Photography by Gord Carter, Ottawa.
ElasticSearch Score: 5.1482787
The author describes results obtained by using a new methodology to estimate potential output for the United Kingdom.
ElasticSearch Score: 5.140947
We investigate the unintended consequences of the Home Affordable Refinance Program (HARP). Originally designed to help borrowers refinance after the 2008–09 global financial crisis, HARP inadvertently strengthened the market power of incumbent lenders by creating a cost advantage for them. Despite a 2013 policy rectifying this cost advantage, we still find significant welfare losses for borrowers.
ElasticSearch Score: 5.1326737
We use internationally comparable household-level data for ten euro area economies and the United States to investigate cross-country differences in debt holdings and the potential of debt overhang.