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2933 Results

Unmet Payment Needs and a Central Bank Digital Currency

We discuss the payment habits of Canadians both in the current payment environment and in a hypothetical cashless environment.

Predicting Canadian Recessions Using Financial Variables: A Probit Approach

Staff Working Paper 1998-5 Joseph Atta-Mensah, Greg Tkacz
This paper examines the ability of a number of financial variables to predict Canadian recessions. Regarding methodology, we follow closely the technique employed by Estrella and Mishkin (1998), who use a probit model to predict U.S. recessions up to eight quarters in advance. Our main finding is that the spread between the yield on Canadian […]
November 20, 2003

Low and Predictable Inflation and the Performance of Canadian Labour Markets

Lecture David Dodge Memorial University of Newfoundland St. John's, Newfoundland and Labrador
The goal of Canadian monetary policy is to contribute to solid economic performance and rising living standards. The best way we can do this is by keeping inflation low, stable, and predictable. This has important implications for labour market performance.

Prudential Liquidity Regulation in Banking—A Literature Review

Staff Discussion Paper 2018-8 Adi Mordel
Prudential liquidity requirements are a relatively recent regulatory tool on the international front, introduced as part of the Basel III accord in the form of a liquidity coverage ratio (LCR) and a net stable funding ratio (NSFR). I first discuss the rationale for regulating bank liquidity by highlighting the market failures that it addresses while reviewing key theoretical contributions to the literature on the motivation for prudential liquidity regulation.

Could a Higher Inflation Target Enhance Macroeconomic Stability?

Recent international experience with the effective lower bound on nominal interest rates has rekindled interest in the benefits of inflation targets above 2 per cent. We evaluate whether an increase in the inflation target to 3 or 4 per cent could improve macroeconomic stability in the Canadian economy.
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