August 24, 2010 Re-examining Canada’s Monetary Policy Framework: Recent Research and Outstanding Issues Remarks John Murray Canadian Association for Business Economics Kingston, Ontario I am honoured to address members of the Canadian Association for Business Economics. My remarks today will focus on critical issues that the Bank of Canada has studied over the past four years and how this research will inform our work as we move forward post crisis. Content Type(s): Press, Speeches and appearances, Remarks
March 11, 1999 Then and now: the change in views on the role of monetary policy since the Porter Commission Lecture Gordon Thiessen C.D. Howe Institute Toronto, Ontario Tony Hampson made a number of outstanding contributions to Canadian public life as well as having a successful business career. Many in this audience will be familiar with the fact that for a number of years he was Chairman of the C.D. Howe Institute's Policy Analysis Committee. Content Type(s): Press, Speeches and appearances, Lectures
Uncertainty and Monetary Policy Experimentation: Empirical Challenges and Insights from Academic Literature Staff Discussion Paper 2022-9 Matteo Cacciatore, Dmitry Matveev, Rodrigo Sekkel Central banks face considerable uncertainty when conducting monetary policy. The COVID-19 pandemic brought this issue back to the forefront of policy discussions. We draw from academic literature to review key sources of uncertainty and how they affect the conduct of monetary policy. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Central bank research, Monetary policy and uncertainty, Potential output JEL Code(s): E, E3, E5
Degree of Internationalization and Performance: An Analysis of Canadian Banks Staff Working Paper 2005-32 Walid Hejazi, Eric Santor The international business literature measures the link between the degree of internationalization (DOI) of a firm's activities and its performance. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions JEL Code(s): F, F2, F23, G, G2, G21
A Band-Aid Solution to Inflation Targeting Staff Working Paper 1997-11 Robert Amano, Richard Black, Marcel Kasumovich This paper reviews selectively the literature on exchange rate target zones and corresponding methodologies and examines whether they can be used to analyse the inflation-control problem. Content Type(s): Staff research, Staff working papers Research Topic(s): Inflation targets JEL Code(s): E, E3, E31, E5, E50
Corporate Balance Sheets in Developed Economies: Implications for Investment Staff Working Paper 2007-24 Denise Côté, Christopher Graham In this paper, the authors examine the aggregate national balance-sheets of non-financial corporations in Australia and the G7 countries with a view to assessing both their financial structure and their financial position. More importantly, the authors investigate whether the financial position of non-financial corporations (i.e., debt-to-equity ratio) is material to the economy's investment prospects and whether the importance of this channel differs depending on the structure of corporate financing i.e., bank-based or market-oriented financing structures. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, International topics JEL Code(s): E, E2, E22, E3, E32, E4, E44
Discounting in Mortgage Markets Staff Working Paper 2011-3 Jason Allen, Robert Clark, Jean-François Houde This paper studies discounting in mortgage markets. Using transaction-level data on Canadian mortgages, we document that over time there's been an increase in the average discount, along with substantial dispersion. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial services JEL Code(s): D, D4, G, G2, G21, L, L0
Examining Full Collateral Coverage in Canada’s Large Value Transfer System Staff Working Paper 2015-29 Lana Embree, Varya Taylor The Large Value Transfer System (LVTS) is Canada’s main electronic interbank funds transfer system that financial institutions use daily to transmit thousands of payments worth several billions of dollars. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Payment clearing and settlement systems JEL Code(s): E, E4, E47, G, G2, G21
November 18, 2010 Bank of Canada Review - Autumn 2010 The premise that exchange rate pass-through has declined is critically reassessed; intensity in the negative feedback process between financial sector developments and the real economy during the recent global crisis is examined; update on past decade’s changing trends in debt issuance in Canada relative to those in other capital markets. Content Type(s): Publications, Bank of Canada Review
Estimating New Keynesian Phillips Curves Using Exact Methods Staff Working Paper 2004-11 Lynda Khalaf, Maral Kichian The authors use simple new finite-sample methods to test the empirical relevance of the New Keynesian Phillips curve (NKPC) equation. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Inflation and prices JEL Code(s): C, C1, C13, C5, C52, E, E3, E31