September 14, 2016 (S)low for Long and Financial Stability Remarks Carolyn A. Wilkins Official Monetary and Financial Institutions Forum City Lecture London, United Kingdom Senior Deputy Governor Carolyn Wilkins discusses the financial stability risks associated with slow growth and low interest rates, and explores strategies to mitigate them. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial markets, Financial stability, Monetary policy, Economic models, Economy/Economic growth
Short-Run and Long-Run News: Evidence from Giant Commodity Discoveries Staff working paper 2025-24 Jean-Paul L’Huillier, Kirill Shakhnov, Laure Simon Our understanding of news shocks is, to a large extent, based on studies that focus empirically on short-run news. This paper brings new insights by analyzing the effects of giant commodity discoveries, which typically materialize over the longer run. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E23, F, F3, F4, Q, Q3, Q33 Research Theme(s): Financial system, Financial stability and systemic risk, Models and tools, Economic models, Monetary policy, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness
Alternative Futures for Government of Canada Debt Management Staff discussion paper 2018-15 Corey Garriott, Sophie Lefebvre, Guillaume Nolin, Francisco Rivadeneyra, Adrian Walton This paper presents four blue-sky ideas for lowering the cost of the Government of Canada’s debt without increasing the debt’s risk profile. We argue that each idea would improve the secondary-market liquidity of government debt, thereby increasing the demand for government bonds and thus lowering their cost at issuance. Content Type(s): Staff research, Staff discussion papers JEL Code(s): G, G1, G12, G2, G24, H, H6, H63 Research Theme(s): Financial markets and funds management, Funds management, Market functioning, Market structure
March 28, 2017 Canada at 150: It Takes a World to Raise a Nation Remarks Stephen S. Poloz 50th Anniversary of Durham College Oshawa, Ontario Governor Stephen S. Poloz shows how Canada’s economic progress has been driven by its historic preference for openness to immigration, investment and trade. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation targeting framework
July 16, 2014 Monetary Policy Report – July 2014 Canadian real GDP growth is projected to average around 2 ¼ per cent during 2014-2016. Content Type(s): Publications, Monetary Policy Report
August 24, 2004 The Efficiency of Canadian Capital Markets: Some Bank of Canada Research Bank of Canada Review - Summer 2004 Scott Hendry, Michael R. King Capital markets and their related financial instruments make an important contribution to the welfare of Canadians. The Bank of Canada is interested in the efficient functioning of capital markets through each of its responsibilities for monetary policy, the financial system, and funds management. Hendry and King highlight the key findings of Bank research published over the past year that addresses capital market efficiency and summarize lessons that have been learned. The research conducted thus far suggests that Canadian capital markets are efficient for a capital market of Canada's size but are less diverse than the U.S. capital markets, indicating that there is room for improvement in certain areas. Content Type(s): Publications, Bank of Canada Review articles
June 25, 2005 Bank of Canada Review - Summer 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. Content Type(s): Publications, Bank of Canada Review
December 23, 2003 Financial System Review - December 2003 This section of the Financial System Review examines the recent performance of the Canadian financial system and the factors, both domestic and international, that are influencing it. Content Type(s): Publications, Financial Stability Report
Behavioral Learning Equilibria in New Keynesian Models Staff working paper 2022-42 Cars Hommes, Kostas Mavromatis, Tolga Özden, Mei Zhu We introduce behavioral learning equilibria (BLE) into DSGE models with boundedly rational agents using simple but optimal first order autoregressive forecasting rules. The Smets-Wouters DSGE model with BLE is estimated and fits well with inflation survey expectations. As a policy application, we show that learning requires a lower degree of interest rate smoothing. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C1, C11, D, D8, D83, D84, E, E3, E6, E62 Research Theme(s): Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission
Multi-Product Pricing: Theory and Evidence from Large Retailers in Israel Staff working paper 2020-12 Marco Bonomo, Carlos Carvalho, Oleksiy Kryvtsov, Sigal Ribon, Rodolfo Rigato Standard theories of price adjustment are based on the problem of a single-product firm, and therefore they may not be well suited to analyze price dynamics in the economy with multiproduct firms. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D2, D21, D22, E, E3, E31, E5, E52, L, L1, L11 Research Theme(s): Financial markets and funds management, Market functioning, Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures