November 7, 2011 Renewal of the Inflation-Control Target (November 2011) Commentary and technical data relating to the 2011 target renewal. Content Type(s): Background materials
November 13, 2014 Bank of Canada Review - Autumn 2014 In this issue, Bank staff discuss recent developments in experimental macroeconomics, research results on price-level and unemployment thresholds in forward guidance, and the spillover effects of quantitative easing in advance economies. Articles also explore the competitiveness strategies of Canadian firms as well as their use of financial derivatives. Content Type(s): Publications, Bank of Canada Review
Canadians’ Access to Cash Before and During the COVID-19 Pandemic Staff discussion paper 2022-15 Heng Chen, Marie-Hélène Felt This paper studies Canadians’ access to cash using the geographical distribution of automated banking machines (ABMs). During the pandemic, there have been no sustained adverse effects on cash accessibility. Content Type(s): Staff research, Staff discussion papers JEL Code(s): J, J1, J15, O, O1, R, R5, R51 Research Theme(s): Financial markets and funds management, Market functioning, Money and payments, Cash and bank notes
Deglobalization and Trade Fragmentation: Implications for the Inflation-Output Trade-Off Staff analytical paper 2026-24 Matteo Cacciatore, Daniela Hauser, Yuko Imura How do deglobalization and rising trade costs affect monetary policy? A two-country, multi-sector model of Canada and the United States shows that bilateral trade-cost shocks generate a manageable inflation–output trade-off under the existing framework — but larger or more persistent shocks would make look-through policies costlier and riskier. Content Type(s): Staff research, Staff analytical paper JEL Code(s): D, D5, D57, E, E5, E52, E58, F, F1, F13, F4, F41, F6, F62 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation, Structural challenges, International trade, finance and competitiveness
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. Content Type(s): Staff research, Staff discussion papers JEL Code(s): G, G2, G21, G28 Research Theme(s): Financial system, Financial institutions and intermediation, Financial stability and systemic risk, Financial system regulation and oversight
May 19, 2011 Bank of Canada Review - Spring 2011 This special issue of the Review, “Lessons from the Financial Crisis,” examines the recent research on the role of liquidity in the financial system and on the public policy responses that aimed to restore stability to the financial system during the crisis and to foster economic recovery. Content Type(s): Publications, Bank of Canada Review
October 3, 2017 Seeking Gazelles in Polar Bear Country Remarks Sylvain Leduc Sherbrooke Chamber of Commerce Sherbrooke, Quebec Deputy Governor Sylvain Leduc discusses the decline in firm creation and productivity in the Canadian economy. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economic models, Economy/Economic growth, Inflation targeting framework
February 17, 2011 Bank of Canada Review - Winter 2010-2011 This issue features a summary of the Bank’s annual conference, which this year dealt with financial globalization, and three articles that present research by Bank staff on Canada’s mortgage market, the role of adverse selection in financial crises, and payment networks. Content Type(s): Publications, Bank of Canada Review
June 15, 2008 Bank of Canada Review - Summer 2008 Cover page Chinese Coin Charms The charms on the cover are part of the National Currency Collection of the Bank of Canada. Photography by Gord Carter. Content Type(s): Publications, Bank of Canada Review
Could a Higher Inflation Target Enhance Macroeconomic Stability? Staff working paper 2018-17 José Dorich, Nicholas Labelle, Vadym Lepetyuk, Rhys R. Mendes 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. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E32, E37, E4, E43, E5, E52 Research Theme(s): Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission