December 9, 2010 Financial System Review - December 2010 Although the global financial system continues to recover gradually from the unprecedented dislocations experienced in recent years, significant downside risks remain. Market concerns over acute fiscal strains in some euro-area countries have intensified sharply in recent weeks.FSR Highlights - December 2010 Content Type(s): Publications, Financial Stability Report
May 16, 2019 Financial System Review—2019 In our Financial System Review, we identify the main vulnerabilities and risks to financial stability in Canada and explain how they have evolved over the past year. This issue reflects the Bank’s judgment that the vulnerabilities associated with high household debt and imbalances in the housing market have declined modestly but remain significant. The Financial System Review is a product of the Governing Council of the Bank of Canada: Stephen S. Poloz, Carolyn A. Wilkins, Timothy Lane, Lawrence Schembri, Lynn Patterson and Paul Beaudry. Content Type(s): Publications, Financial Stability Report
Do High-Frequency Financial Data Help Forecast Oil Prices? The MIDAS Touch at Work Staff Working Paper 2014-11 Christiane Baumeister, Pierre Guérin, Lutz Kilian The substantial variation in the real price of oil since 2003 has renewed interest in the question of how to forecast monthly and quarterly oil prices. There also has been increased interest in the link between financial markets and oil markets, including the question of whether financial market information helps forecast the real price of oil in physical markets. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, International topics JEL Code(s): C, C5, C53, G, G1, G14, Q, Q4, Q43
June 7, 2018 Establishing a Resolution Regime for Canada’s Financial Market Infrastructures Financial System Review - June 2018 Elizabeth Woodman, Lucia Chung, Nikil Chande This report highlights how an effective resolution regime promotes financial stability. It does this by ensuring that financial market infrastructures (FMIs) would be able to continue to provide their critical functions during a period of stress when an FMI’s own recovery measures were failing. The report explains the Bank of Canada’s new role as the resolution authority for FMIs, which will further bolster financial system resilience. Content Type(s): Publications, Financial System Review articles Research Topic(s): Financial institutions, Financial markets, Financial stability, Financial system regulation and policies, Payment clearing and settlement systems JEL Code(s): G, G1, G10, G19, G2, G20, G28, G29
The Relative Benefits and Risks of Stablecoins as a Means of Payment: A Case Study Perspective Staff Discussion Paper 2022-21 Annetta Ho, Sriram Darbha, Yuliya Gorelkina, Alejandro García Our paper contributes to the discussion about the utility of stablecoins for retail payments through an objective, evidence-based approach that compares stablecoins with traditional retail payment methods. The paper also provides insights that could be useful in the design of central bank digital currencies. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Digital currencies and fintech, Payment clearing and settlement systems JEL Code(s): D, D7, D78, O, O3, O38
June 14, 2012 Strengthening Financial Infrastructure: The New Canadian Central Counterparty Remarks Agathe Côté Association of Quebec Women in Finance Montréal, Quebec Deputy Governor Agathe Côté discusses efforts to strengthen financial infrastructure, specifically the implementation of a central counterparty for repos Content Type(s): Press, Speeches and appearances, Remarks
November 13, 2015 Innovation, Central-Bank Style Remarks Carolyn A. Wilkins Rotman School of Management and Munk School of Global Affairs Toronto, Ontario Senior Deputy Governor Wilkins discusses how the Bank is tackling the most important strategic challenges facing central banks today and how innovative thinking is critical to its success. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Central bank research, Credibility, Economic models, Exchange rate regimes, Inflation targets, Monetary policy framework
March 16, 2008 Bank of Canada Review - Spring 2008 Cover Page Canada's First Coinage Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
December 23, 2004 Financial System Review - December 2004 The Canadian financial system comprises financial markets, financial institutions, and the clearing and settlement systems. Content Type(s): Publications, Financial Stability Report
Inference in Games Without Nash Equilibrium: An Application to Restaurants’ Competition in Opening Hours Staff Working Paper 2018-60 Erhao Xie This paper relaxes the Bayesian Nash equilibrium (BNE) assumption commonly imposed in empirical discrete choice games with incomplete information. Instead of assuming that players have unbiased/correct expectations, my model treats a player’s belief about the behavior of other players as an unrestricted unknown function. I study the joint identification of belief and payoff functions. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Market structure and pricing JEL Code(s): C, C5, C57, L, L1, L13, L8, L85