April 18, 2017 Blame It on the Machines? Remarks Carolyn A. Wilkins Toronto Region Board of Trade Toronto, Ontario Senior Deputy Governor Carolyn A. Wilkins discusses how automation could affect productivity and the Bank’s monetary policy. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Fintech, Monetary policy, Economy/Economic growth, Inflation targeting framework
September 13, 2006 Weathering Economic Shocks: The Importance of Flexibility Remarks Paul Jenkins Vancouver Board of Trade Vancouver, British Columbia First, I should explain what I mean by flexibility. As most of you are surely aware, the Bank of Canada has been openly discussing the importance of promoting policies that support economic efficiency, including financial system efficiency. Efficiency refers to the allocation of scarce economic resources to the most productive uses, in a cost-effective way. Content Type(s): Press, Speeches and appearances, Remarks
Household balance sheets and mortgage payment shocks Staff analytical note 2025-23 Thomas Michael Pugh, Saarah Sheikh, Taylor Webley Household savings in Canada have increased significantly since 2019, especially among homeowners without a mortgage. We assess how savings buffers can mitigate households’ financial risk in relation to asset repricing, mortgage payment renewal and unemployment. Content Type(s): Staff research, Staff analytical notes JEL Code(s): D, D3, D31, E, E2, E21, G, G5, G51 Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit
November 19, 2009 The Evolution of the International Monetary System Remarks Mark Carney Foreign Policy Association, New York City New York, New York In response to the worst financial crisis since the 1930s, policy-makers around the globe are providing unprecedented stimulus to support economic recovery and are pursuing a radical set of reforms to build a more resilient financial system. Content Type(s): Press, Speeches and appearances, Remarks
State Correlation and Forecasting: A Bayesian Approach Using Unobserved Components Models Staff working paper 2018-14 Luis Uzeda Implications for signal extraction from specifying unobserved components (UC) models with correlated or orthogonal innovations have been well investigated. In contrast, the forecasting implications of specifying UC models with different state correlation structures are less well understood. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C1, C11, C15, C5, C51, C53 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
Local Labor Markets in Canada and the United States Staff working paper 2019-12 David Albouy, Alex Chernoff, Chandler Lutz, Casey Warman We examine local labor markets in the United States and Canada from 1990 to 2011 using comparable household and business data. Wage levels and inequality rise with city population in both countries, albeit less in Canada. Content Type(s): Staff research, Staff working papers JEL Code(s): J, J2, J21, J3, J31, J6, J61, N, N3, N32, R, R1, R12 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply
November 8, 2016 Wood, Wheat, Wheels and the Web: Historical Pivots and Future Prospects for Canadian Exports Remarks Lawrence L. Schembri Atlantic Institute for Market Studies Halifax, Nova Scotia Deputy Governor Lawrence Schembri discusses the historical evolution and future prospects for Canadian exports. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial markets, Financial stability, Monetary policy, Economy/Economic growth
Did the Renewable Fuel Standard Shift Market Expectations of the Price of Ethanol? Staff working paper 2017-35 Christiane Baumeister, Reinhard Ellwanger, Lutz Kilian It is commonly believed that the response of the price of corn ethanol (and hence of the price of corn) to shifts in biofuel policies operates in part through market expectations and shifts in storage demand, yet to date it has proved difficult to measure these expectations and to empirically evaluate this view. Content Type(s): Staff research, Staff working papers JEL Code(s): Q, Q1, Q18, Q2, Q28, Q4, Q42, Q5, Q58 Research Theme(s): Financial markets and funds management, Market functioning, Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures
October 8, 2009 Central Banking in Canada: Meeting Today's and Tomorrow's Challenges Remarks Paul Jenkins Vancouver Board of Trade Vancouver, British Columbia Indeed, the global financial crisis of the past two years has presented unique, stressful challenges that have forced us all to assess what has worked well and what needs to change. Today, I would like to review some of the critical thinking around these issues, primarily from the perspective of our work at the Bank of Canada. Content Type(s): Press, Speeches and appearances, Remarks
Monetary Policy Tradeoffs Between Financial Stability and Price Stability Staff working paper 2016-49 Malik Shukayev, Alexander Ueberfeldt We analyze the impact of interest rate policy on financial stability in an environment where banks can experience runs on their short-term liabilities, forcing them to sell assets at fire-sale prices. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D6, D62, E, E3, E32, E4, E44, G, G0, G01 Research Theme(s): Financial system, Financial stability and systemic risk, Monetary policy, Monetary policy framework and transmission