Interaction of Macroprudential and Monetary Policies: Practice Ahead of Theory Staff Discussion Paper 2024-18 Thibaut Duprey, Yaz Terajima, Jing Yang We draw on the Canadian experience to examine how monetary and macroprudential policies interact and possibly complement each other in achieving their respective price and financial stability objectives. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial stability, Monetary policy JEL Code(s): E, E3, E37, E5, E52, E58, E6, E61, G, G0, G01, G2, G21, G28
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 Research Topic(s): Inflation and prices, Monetary policy
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 Research Topic(s): Financial services, Regional economic developments JEL Code(s): J, J1, J15, O, O1, R, R5, R51
Understanding Productivity: A Review of Recent Technical Research Staff Discussion Paper 2008-3 Richard Dion, Robert Fay The authors provide an extensive review of the rapidly expanding research on productivity, both at the macro and micro levels. They focus primarily on papers written about Canada, but also draw on selected studies from other countries, especially the United States, where such work sheds important light on particular aspects of productivity growth. The authors […] Content Type(s): Staff research, Staff discussion papers Research Topic(s): Productivity JEL Code(s): D, D2, D24, O, O3, O31, O4, O40, O47
Regime-Switching Models: A Guide to the Bank of Canada Gauss Procedures Staff Working Paper 1996-3 Simon van Norden, Robert Vigfusson This paper is a user's guide to a set of Gauss procedures developed at the Bank of Canada for estimating regime-switching models. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods JEL Code(s): C, C6, C63
Why Canada Needs a Flexible Exchange Rate Staff Working Paper 1999-12 John Murray This paper explores the arguments for and against a common currency for Canada and the United States and attempts to determine whether such an arrangement would offer any significant advantages for Canada compared with the present flexible exchange rate system. The paper first reviews the theoretical arguments advanced in the economics literature in support of fixed and flexible currency arrangements. A discussion of Canada's past experience with the two exchange rate systems follows, after which there is a survey of the empirical evidence published on Canada's current and prospective suitability for some form of fixed currency arrangement with the United States. The final section of the paper examines critically a number of concerns raised about the behaviour of the current flexible exchange rate system. Content Type(s): Staff research, Staff working papers Research Topic(s): Exchange rates JEL Code(s): F, F3, F31
December 27, 2005 Analyzing the Evolution of Financial Instability Risk Financial System Review - December 2005 Céline Gauthier, Pierre St-Amant Content Type(s): Publications, Financial System Review articles
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
A Modified P*-Model of Inflation Based on M1 Staff Working Paper 1996-15 Joseph Atta-Mensah This paper examines the performance of M1 in an indicator-model of inflation over time horizons as long as 16 quarters into the future. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models JEL Code(s): E, E3, E37
Explaining and Forecasting Inflation in Emerging Markets: The Case of Mexico Staff Working Paper 2003-17 Jeannine Bailliu, Daniel Garcés, Mark Kruger, Miguel Messmacher The authors apply existing inflation models that have worked well in industrialized countries to Mexico, an emerging market that has recently moved to adopt an inflation-targeting framework for monetary policy. They compare the performance of these models with a mark-up model that has been used extensively to analyze inflation in Mexico. Content Type(s): Staff research, Staff working papers Research Topic(s): Inflation and prices, International topics JEL Code(s): E, E3, E31, E37