November 1, 2018 Bank of Canada publishes staff economic projections for the first time Media Relations Ottawa, Ontario Today the Bank of Canada launched a digital database with more than 30 years of past staff economic projections of the Canadian economy. Content Type(s): Press, Press releases
May 30, 2019 Economic Progress Report: Investing in Growth Remarks Carolyn A. Wilkins Calgary Chamber of Commerce Calgary, Alberta Senior Deputy Governor Carolyn A. Wilkins talks about the importance of business investment to the Canadian economy and reviews the latest interest rate decision. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Interest rates, Monetary policy, Potential output, Productivity, Recent economic and financial developments
May 5, 2015 Liquid Markets for a Solid Economy Remarks Carolyn A. Wilkins Chambre de commerce du Montréal métropolitain Montréal, Quebec Senior Deputy Governor Wilkins discusses funding and market liquidity, and announces consultations on the Bank’s market operations and emergency lending frameworks. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Asset pricing, Financial institutions, Financial markets, Financial stability, Financial system regulation and policies, Lender of last resort
Efficient Hedging and Pricing of Equity-Linked Life Insurance Contracts on Several Risky Assets Staff Working Paper 2006-43 Alexander Melnikov, Yuliya Romanyuk The authors use the efficient hedging methodology for optimal pricing and hedging of equity-linked life insurance contracts whose payoff depends on the performance of several risky assets. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): D, D8, D81, G, G1, G10, G12
Bank Capital, Agency Costs, and Monetary Policy Staff Working Paper 2004-6 Césaire Meh, Kevin Moran Evidence suggests that banks, like firms, face financial frictions when raising funds. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Financial institutions, Monetary policy transmission JEL Code(s): E, E4, E44, E5, E52, G, G2, G21
Measuring Potential Output at the Bank of Canada: The Extended Multivariate Filter and the Integrated Framework Staff Discussion Paper 2015-1 Lise Pichette, Pierre St-Amant, Ben Tomlin, Karine Anoma Estimating potential output and the output gap - the difference between actual output and its potential - is important for the proper conduct of monetary policy. However, the measurement and interpretation of potential output, and hence the output gap, is fraught with uncertainty, since it is unobservable. Content Type(s): Staff research, Staff discussion papers Topic(s): Economic models, Inflation and prices, Labour markets, Productivity JEL Code(s): E, E0, E3, E31, E5, E52
Labour Share Fluctuations in Emerging Markets: The Role of the Cost of Borrowing Staff Working Paper 2014-47 Serdar Kabaca This paper contributes to the literature by documenting labour income share fluctuations in emerging-market economies and proposing an explanation for them. Time-series data indicate that emerging markets differ from developed markets in terms of changes in the labour share over the business cycle. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Development economics, Interest rates, International topics, Labour markets JEL Code(s): E, E2, E25, E4, E44, F, F4, F41
International Borrowing, Specialization and Unemployment in a Small, Open Economy Staff Working Paper 1998-2 Patrick Osakwe, Shouyong Shi Empirical evidence suggests that the unemployment rate and the export/GNP ratio are positively correlated with external debt across developing countries. This paper develops a dynamic model that provides an explanation for the aforementioned relationships. The central idea of our paper is that international borrowing affects unemployment and specialization patterns by unevenly changing the risk-sharing structure—across […] Content Type(s): Staff research, Staff working papers Topic(s): International topics JEL Code(s): F, F3, J, J6
Identifying Asymmetric Comovements of International Stock Market Returns Staff Working Paper 2010-21 Fuchun Li Based on a new approach for measuring the comovements between stock market returns, we provide a nonparametric test for asymmetric comovements in the sense that stock market downturns will lead to stronger comovements than market upturns. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Financial stability, Financial system regulation and policies, International topics JEL Code(s): C, C4, C49, F, F2, F21, G, G1, G15, G19
December 14, 2009 Liquidity Standards in a Macroprudential Context Financial System Review - December 2009 Carol Ann Northcott, Mark Zelmer Content Type(s): Publications, Financial System Review articles