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2138 Results

March 2, 2026

Canada’s monetary policy framework in a world of supply-driven trade-offs

Remarks Sharon Kozicki Norges Bank Monetary Policy Mandate Conference Oslo, Norway
Deputy Governor Sharon Kozicki discusses the challenges of setting monetary policy in a world where supply-side developments are important drivers of inflation.

Central Bank Liquidity Facilities and Market Making

Staff working paper 2022-9 David Cimon, Adrian Walton
We create a theoretical model of central bank asset purchases. The model helps explain how, in a crisis, these purchases ease pressures on investment dealers.

Extreme Downside Risk in Asset Returns

Staff working paper 2019-46 Lerby Ergun
Financial markets can experience sudden and extreme downward movements. Investors are highly concerned about the performance of their assets in such scenarios. Some assets perform badly in a downturn in the market; others have milder reactions.

Are Hedge Funds a Hedge for Increasing Government Debt Issuance?

Staff discussion paper 2025-7 Adam Epp, Jeffrey Gao
This paper studies the rapid increase since 2019 of Government of Canada (GoC) debt issuance alongside greater hedge fund participation at GoC bond auctions. We find a systematic relationship between GoC debt stock and hedge fund bidding shares at auction.

Firm Dynamics and Multifactor Productivity: An Empirical Exploration

Staff working paper 2018-15 Pierre St-Amant, David Tessier
There are indications that business dynamism has declined in advanced economies. In particular, firm entry and exit rates have fallen, suggesting that the creative destruction process has lost some of its vitality. Meanwhile, productivity growth has slowed. Some believe that lower entry and exit rates partly explain the weaker productivity growth.
May 16, 2016

The Micro and Macro of Downward Nominal Wage Rigidity

The article examines the extent of downward nominal wage rigidity in Canada and its implications for monetary policy. The authors ask whether its existence is a sufficient argument for a higher inflation target if concerns about the effective lower bound are adequately addressed.
Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): E, E3, E4, E5, J, J2, J23, J3, J30

Should Monetary Policy Lean Against Housing Market Booms?

Staff working paper 2016-19 Sami Alpanda, Alexander Ueberfeldt
Should monetary policy lean against housing market booms? We approach this question using a small-scale, regime-switching New Keynesian model, where housing market crashes arrive with a logit probability that depends on the level of household debt.

On the Nexus of Monetary Policy and Financial Stability: Effectiveness of Macroprudential Tools in Building Resilience and Mitigating Financial Imbalances

Staff discussion paper 2016-11 H. Evren Damar, Miguel Molico
This paper reviews the Canadian and international evidence of the effectiveness of macroprudential policy measures in building resilience and mitigating financial imbalances. The analysis concludes that these measures have broadly achieved their goal of increasing the overall resilience of the financial system to the buildup of imbalances and increasing the financial system’s ability to withstand adverse shocks.
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