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3045 Results

April 12, 2006

The Evolution of the Government of Canada's Debt Distribution Framework

This overview includes a brief history highlighting the government's use of the primary and secondary markets to develop a framework for distributing its debt securities to financial market intermediaries and end investors. The framework is also intended to meet the government's debt-strategy objectives of raising stable, low-cost funding and maintaining a well-functioning debt market. Pellerin reviews the government's adoption of a new framework in 1998 as well as the 2005 modifications aimed at attracting continued broad and competitive participation in government auctions.
June 4, 2020

Economic progress report: keeping markets working

Remarks (delivered virtually) Toni Gravelle Greater Sudbury Chamber of Commerce Sudbury, Ontario
Deputy Governor Toni Gravelle discusses the Bank’s latest interest rate announcement and explains how efforts to keep financial markets functioning through the COVID-19 crisis will lay a solid foundation for economic recovery

Global Factors and Inflation in Canada

Staff Analytical Note 2017-17 Dany Brouillette, Laurence Savoie-Chabot
This note investigates whether the recent weakness in inflation in Canada can be related to global factors not included in the current staff analytical framework (domestic slack, movements in commodity prices and in the exchange rate). A global common factor for inflation among selected advanced economies appears to contain marginal information for Canadian inflation beyond what is found in movements in commodity prices and the exchange rate.

The Political Impact of Immigration: Evidence from the United States

Staff Working Paper 2018-19 Anna Maria Mayda, Giovanni Peri, Walter Steingress
In this paper we study the impact of immigration to the United States on the vote for the Republican Party by analyzing county-level data on election outcomes between 1990 and 2010. Our main contribution is to separate the effect of high-skilled and low-skilled immigrants, by exploiting the different geography and timing of the inflows of these two groups of immigrants.
Content Type(s): Staff research, Staff working papers Research Topic(s): International topics, Labour markets JEL Code(s): F, F2, F22, J, J6, J61

Borrow Now, Pay Even Later: A Quantitative Analysis of Student Debt Payment Plans

Staff Working Paper 2023-54 Michael Boutros, Nuno Clara, Francisco Gomes
We investigate alternative student debt contracts that defer payments and ease the burden of student loans on US households by preserving disposable income early in borrowers’ lives. Our model shows substantial welfare gains from these contracts relative to existing plans and gains similar to the Biden administration's proposals but with a significantly lower cost.

Money and Price Posting under Private Information

Staff Working Paper 2011-22 Mei Dong, Janet Hua Jiang
We study price posting with undirected search in a search-theoretic monetary model with divisible money and divisible goods. Ex ante homogeneous buyers experience match specific preference shocks in bilateral trades. The shocks follow a continuous distribution and the realization of the shocks is private information.
Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Inflation and prices JEL Code(s): D, D8, D82, D83, E, E3, E31

The Impact of Bankruptcy Reform on Insolvency Choice and Consumer Credit

Staff Working Paper 2016-26 Jason Allen, Kiana Basiri
We examine the impact of the 2009 amendments to the Canadian Bankruptcy and Insolvency Act on insolvency decisions. Rule changes steered debtors out of division I proposals and into the more cost-effective division II proposals.

Detecting exuberance in house prices across Canadian cities

Staff Analytical Note 2021-9 Ugochi Emenogu, Cars Hommes, Mikael Khan
We introduce a model to detect periods of extrapolative house price expectations across Canadian cities. The House Price Exuberance Indicator can be updated on a quarterly basis to support the Bank of Canada’s broader assessment of housing market imbalances.
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