The Prudential Toolkit with Shadow Banking Staff Working Paper 2025-9 Kinda Hachem, Martin Kuncl Can regulators keep pace with banks’ creative regulatory workarounds? Our analysis unpacks the trade-offs between fixed regulations and crisis-triggered rules, showing that the latter are especially prone to circumvention—and can trigger larger, costlier bailouts. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial stability, Financial system regulation and policies JEL Code(s): D, D6, D62, E, E6, E61, G, G0, G01, G2, G21, G28
October 15, 2007 Bank of Canada Review - Autumn 2007 Cover page Siamese Gaming Tokens The tokens pictured here are part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
November 18, 2010 Bank of Canada Review - Autumn 2010 The premise that exchange rate pass-through has declined is critically reassessed; intensity in the negative feedback process between financial sector developments and the real economy during the recent global crisis is examined; update on past decade’s changing trends in debt issuance in Canada relative to those in other capital markets. Content Type(s): Publications, Bank of Canada Review
December 23, 2002 The CLS Bank: Managing Risk in Foreign Exchange Settlements Financial System Review - December 2002 Paul Miller, Carol Ann Northcott Content Type(s): Publications, Financial System Review articles
January 5, 2002 Inflation Targeting in Canada: Experience and Lessons Remarks David Dodge Central Bank Governor's Panel on Inflation Targeting at a joint session of The American Economic Association and the North American Economics and Finance Association Atlanta, Georgia In the 1970s and 1980s we found - in common with many other countries - that high and variable rates of inflation created a lot of economic damage. And it took a long time and a lot of work with various monetary policy frameworks before we got back on track. Content Type(s): Press, Speeches and appearances, Remarks
January 11, 2021 Canadian Survey of Consumer Expectations—Fourth Quarter of 2020 The Canadian Survey of Consumer Expectations (CSCE) collects respondents’ views on inflation, the labour market and household finances. The survey for the fourth quarter of 2020 was conducted from November 10 to December 1, 2020. This period coincides with a sharp increase in COVID‑19 cases across Canada and follows announcements about the development of effective vaccines. Since the survey was conducted, some provinces have imposed additional measures to contain the spread of the virus. In addition, the first vaccines have begun to be administered. Like the previous two surveys, the fourth-quarter survey included questions on the impacts of COVID‑19 and the measures to contain its spread. This survey also asked respondents how they used any benefits they received from income-support programs that governments put in place to help them through the pandemic. This quarter, the report provides some details by demographic characteristics. Content Type(s): Publications, Canadian Survey of Consumer Expectations
Technology Shocks, Labour Mobility and Aggregate Fluctuations Staff Working Paper 2014-4 Daniela Hauser We provide evidence regarding the dynamic behaviour of net labour flows across U.S. states in response to a positive technology shock. Technology shocks are identified as disturbances that increase relative state productivity in the long run for 226 state pairs, encompassing 80 per cent of labour flows across U.S. states in the 1976 - 2008 period. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Labour markets JEL Code(s): E, E2, E24, E3, E32, J, J6, J61
The Impact of U.S. Monetary Policy Normalization on Capital Flows to Emerging-Market Economies Staff Working Paper 2014-53 Tatjana Dahlhaus, Garima Vasishtha The Federal Reserve’s path for withdrawal of monetary stimulus and eventually increasing interest rates could have substantial repercussions for capital flows to emerging-market economies (EMEs). Content Type(s): Staff research, Staff working papers Research Topic(s): International topics, Monetary policy transmission JEL Code(s): C, C3, C32, E, E5, E52, F, F3, F33, F4, F42
Testing the Pricing-to-Market Hypothesis: Case of the Transportation Equipment Industry Staff Working Paper 2000-8 Lynda Khalaf, Maral Kichian Pricing-to-market (PTM) theory suggests that monopolistic firms which export adjust their destination-specific markups in reaction to exchange rate shocks. These adjustments limit changes in the price of their exports. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Market structure and pricing JEL Code(s): C, C1, C12, C15, L, L1, L11, L16
May 17, 1996 The Transmission of Monetary Policy Gordon Thiessen, Bruce Montador, Kevin Clinton, Kevin Fettig, Donna Howard, Charles Freedman, Pierre Duguay, Stephen S. Poloz, Tim Noël Text of major 1995 lecture by Bank Governor Gordon Thiessen, plus articles from Bank of Canada Review and other sources Content Type(s): Publications, Books and monographs Research Topic(s): Monetary policy transmission JEL Code(s): E, E5