January 26, 2012 Collateral Valuation for Extreme Market Events Financial System Review - December 2006 Alejandro García, Ramazan Gençay Content Type(s): Publications, Financial System Review articles
Forecasting Recessions in Canada: An Autoregressive Probit Model Approach Staff working paper 2024-10 Antoine Poulin-Moore, Kerem Tuzcuoglu We forecast recessions in Canada using an autoregressive (AR) probit model. The results highlight the short-term predictive power of the US economic activity and suggest that financial indicators are reliable predictors of Canadian recessions. In addition, the suggested model meaningfully improves the ability to forecast Canadian recessions, relative to a variety of probit models proposed in the Canadian literature. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C51, C53, E, E3, E32 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Real economy and forecasting
What Can Stockouts Tell Us About Inflation? Evidence from Online Micro Data Staff working paper 2021-52 Alberto Cavallo, Oleksiy Kryvtsov Did supply disruptions and cost pressures play a role in rising inflation in 2020 during the COVID-19 pandemic? Using data collected from websites of large retailers in multiple sectors and countries, we show that shortages may indicate transitory inflationary pressures. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D2, D22, E, E3, E31, E37 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
September 18, 2025 Making change—Accelerating payments innovation Remarks Ron Morrow CPA The One conference Ottawa, Ontario Ron Morrow, Executive Director of Payments, Supervision and Oversight, talks about innovations in the payments ecosystem. He also highlights the Bank’s new role as supervisor of payment service providers. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Digital currency, Financial system, Financial markets, Financial stability, Fintech, Retail payments
November 18, 2002 Promoting Canada's Economic and Financial Welfare Remarks David Dodge Calgary Chamber of Commerce Calgary, Alberta It's been a difficult year for many sectors of the Alberta economy. Certainly, the severe drought hurt many western farmers, and investment in the energy sector was held back by low oil and gas prices. In addition, the slump in the telecom sector has affected Calgary. Content Type(s): Press, Speeches and appearances, Remarks
Furor over the Fed : Presidential Tweets and Central Bank Independence Staff analytical note 2019-33 Antoine Camous, Dmitry Matveev We illustrate how market data can be informative about the interactions between monetary and fiscal policy. Federal funds futures are private contracts that reflect investor’s expectations about monetary policy decisions. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E4, E44, E5, E52, E58 Research Theme(s): Financial markets and funds management, Market functioning, Financial system, Financial stability and systemic risk, Monetary policy, Monetary policy framework and transmission
Climate Change and Socio-economic inequality in the US Staff working paper 2026-16 Barbara Sadaba, Tatjana Dahlhaus This paper examines how climate change affects income inequality across US states. Using a new climate-inequality VAR and a century of daily temperature data, it shows that shifts across the full temperature distribution—not just average warming—have diverse effects on within-state inequality. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C1, C11, C3, C32, D, D6, D63, Q, Q5, Q54 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Structural challenges, Climate change
Immigration and Provision of Public Goods: Evidence at the Local Level in the U.S. Staff working paper 2023-57 Anna Maria Mayda, Mine Z. Senses, Walter Steingress Using U.S. county-level data from 1990 to 2010, we study the causal impact of immigration on the provision of local public goods. We uncover substantial heterogeneity across immigrants with different skills and immigrants of different generations, which leads to unequal fiscal effects across U.S. counties. Content Type(s): Staff research, Staff working papers JEL Code(s): F, F2, F22, H, H4, H41, H7, J, J6, J61, J68, R, R5 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply
June 23, 2003 Financial System Review - June 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
October 3, 2023 Understanding the unusual: How firms set prices during periods of high inflation Remarks Nicolas Vincent Chamber of Commerce of Metropolitan Montreal Montréal, Quebec Deputy Governor Nicolas Vincent discusses how firms set their prices and how pricing behaviour changed in our recent environment of high inflation. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economic models, Economy/Economic growth, Inflation, Inflation targeting framework