Search

Content Types

Research Topics

JEL Codes

Locations

Departments

Authors

Sources

Statuses

Published After

Published Before

3045 Results

Productive Misallocation and International Transmission of Credit Shocks

Staff Working Paper 2015-19 Yuko Imura, Julia Thomas
We develop an asymmetric, two-country equilibrium business cycle model to study the role of international trade in transmitting and propagating the real effects of global financial shocks. Our model predicts that a recession in a large economy considerably alters a recession in its smaller trade partner, with distinct investment dynamics driving the transmission.

Managing Risk Taking with Interest Rate Policy and Macroprudential Regulations

Staff Working Paper 2016-47 Simona Cociuba, Malik Shukayev, Alexander Ueberfeldt
We develop a model in which a financial intermediary’s investment in risky assets—risk taking—is excessive due to limited liability and deposit insurance and characterize the policy tools that implement efficient risk taking.

Tractable Term Structure Models

We introduce a new framework that facilitates term structure modeling with both positive interest rates and flexible time-series dynamics but that is also tractable, meaning amenable to quick and robust estimation.

Assessing global potential output growth and the US neutral rate: April 2021

We expect global potential output growth to rise to 3 percent by 2022. Relative to the last assessment in October 2020, potential output growth has been revised up across all the regions. The range of the US neutral rate remains unchanged relative to the autumn 2020 assessment.
Content Type(s): Staff research, Staff analytical notes Research Topic(s): Interest rates, Monetary policy, Potential output, Productivity JEL Code(s): E, E1, E2, E4, E5, F, F0, O, O4

Are Bank Bailouts Welfare Improving?

Staff Working Paper 2021-56 Malik Shukayev, Alexander Ueberfeldt
Financial sector bailouts, while potentially beneficial during a crisis, might lead to excessive risk taking if anticipated. Taking expectations and aggregate risk implications into account, we show that bailouts can be welfare improving, but only if capital adequacy constraints are sufficiently tight.

Technological Progress and Monetary Policy: Managing the Fourth Industrial Revolution

Staff Discussion Paper 2019-11 Stephen S. Poloz
This paper looks at the implications for monetary policy of the widespread adoption of artificial intelligence and machine learning, which is sometimes called the “fourth industrial revolution.”

Modelling Canadian mortgage debt and payments in a semi-structural model

Staff Analytical Note 2024-1 Fares Bounajm, Austin McWhirter
We show how Canadian mortgage debt dynamics can be modelled in a semi-structural macroeconomic model, such as the Bank of Canada’s LENS. The model we propose accounts for Canada’s unique mortgage debt structure.
Content Type(s): Staff research, Staff analytical notes Research Topic(s): Economic models, Monetary policy transmission JEL Code(s): E, E2, E27, E4, E43, E47, G, G5, G51

Bank Runs, Portfolio Choice, and Liquidity Provision

Staff Working Paper 2019-37 Toni Ahnert, Mahmoud Elamin
After the financial crisis of 2007–09, many jurisdictions introduced new banking regulations to make banks more resilient and less likely to fail. These regulations included tighter limits for the quality and quantity of bank capital and introduced minimum standards for liquidity. But what was the impact of these changes?
Content Type(s): Staff research, Staff working papers Research Topic(s): Financial stability, Wholesale funding JEL Code(s): G, G0, G01, G2, G21
Go To Page