October 23, 2008 Monetary Policy Report – October 2008 Three major interrelated global developments are having a profound impact on the Canadian economy and making the outlook more uncertain than it was at the time of the July Monetary Policy Report Update. Content Type(s): Publications, Monetary Policy Report
Qualitative Field Research in Monetary Policy Making Staff Discussion Paper 2021-1 Chris D'Souza, Jane Voll Central banks conduct research involving in-depth interviews with external parties—but little is known about how this information affects monetary policy. We address this gap by analyzing open-ended interviews with senior central bank economic and policy staff who work closely with policy decision-makers. Content Type(s): Staff research, Staff discussion papers Topic(s): Business fluctuations and cycles, Monetary policy, Monetary policy and uncertainty JEL Code(s): C, C8, C83, E, E3, E37, E5, E52
Should Bank Capital Regulation Be Risk Sensitive? Staff Working Paper 2018-48 Toni Ahnert, James Chapman, Carolyn A. Wilkins We present a simple model to study the risk sensitivity of capital regulation. A banker funds investment with uninsured deposits and costly capital, where capital resolves a moral hazard problem in the banker’s choice of risk. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial system regulation and policies JEL Code(s): G, G2, G21, G28
November 13, 2014 Spillover Effects of Quantitative Easing on Emerging-Market Economies Bank of Canada Review - Autumn 2014 Robert Lavigne, Subrata Sarker, Garima Vasishtha While quantitative easing (QE) in the United States likely increased capital flows to emerging-market economies (EMEs), putting upward pressure on asset prices and exchange rates, diverging fundamentals between advanced economies and EMEs were also important drivers. Evidence suggests that the benefits of QE to EMEs, in higher global demand and increased confidence, appear to outweigh the costs. When advanced economies begin to normalize monetary policy, the best defence for EMEs against any potential instability is likely to be further strengthening of their macroeconomic and financial policy frameworks. Content Type(s): Publications, Bank of Canada Review articles Topic(s): International financial markets, International topics, Monetary policy transmission JEL Code(s): E, E5, E52, E58, F, F3, F32, F4, F41, F42
October 31, 2021 Research Update - October 2021 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
November 27, 1997 Final report on wartime gold transactions released Media Relations The Bank of Canada today released a report by Professor Duncan McDowall of Carleton University entitled Due Diligence: A report on the Bank of Canada's handling of foreign gold during World War II. Content Type(s): Press, Press releases
Efficiency and Bargaining Power in the Interbank Loan Market Staff Working Paper 2012-29 Jason Allen, James Chapman, Federico Echenique, Matthew Shum Using detailed loan transactions-level data we examine the efficiency of an overnight interbank lending market, and the bargaining power of its participants. Our analysis relies on the equilibrium concept of the core, which imposes a set of no-arbitrage conditions on trades in the market. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Payment clearing and settlement systems JEL Code(s): C, C7, C71, E, E5, E58, G, G2, G21, G28
March 1, 2006 A Primer on Canada’s Large Value Transfer System Darcey McVanel, Neville Arjani This paper provides a comprehensive overview of Canada’s Large Value Transfer System (LVTS). Content Type(s): Background materials Topic(s): Payment clearing and settlement systems
Commodity Price Co-Movement and Global Economic Activity Staff Working Paper 2014-32 Ron Alquist, Olivier Coibion Guided by a macroeconomic model in which non-energy commodity prices are endogenously determined, we apply a new factor-based identification strategy to decompose the historical sources of changes in commodity prices and global economic activity. Content Type(s): Staff research, Staff working papers Topic(s): Economic models, International topics JEL Code(s): E, E3, F, F4
COVID-19 and Implications for Automation Staff Working Paper 2021-25 Alex Chernoff, Casey Warman Occupations held by females with mid-level education face the highest risk of accelerated automation as a result of the COVID-19 pandemic. Content Type(s): Staff research, Staff working papers Topic(s): Coronavirus disease (COVID-19), International topics, Labour markets JEL Code(s): I, I1, I14, I2, I24, J, J1, J15, J16, R, R1, R12