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2116 Results

Are Counterparty Arrangements in Reinsurance a Threat to Financial Stability?

Staff working paper 2016-39 Matt Davison, Darrell Leadbetter, Bin Lu, Jane Voll
Interconnectedness among insurers and reinsurers at a global level is not well understood and may pose a significant risk to the sector, with implications for the macroeconomy. Models of the complex interactions among reinsurers and with other participants in the financial system and the real economy are at a very early stage of development.

What Are the Macroeconomic Effects of High-Frequency Uncertainty Shocks

Staff working paper 2016-25 Laurent Ferrara, Pierre Guérin
This paper evaluates the effects of high-frequency uncertainty shocks on a set of low-frequency macroeconomic variables that are representative of the U.S. economy. Rather than estimating models at the same common low-frequency, we use recently developed econometric models, which allows us to deal with data of different sampling frequencies.
September 18, 2008

Measuring Inflation: Methodology and Misconceptions

Remarks John Murray Certified General Accountants of Ontario Toronto, Ontario
These past few months have been busy for central bankers, to say the least, and the past few days are certainly no exception. While developments on Wall Street have garnered much attention, the cost of living has also been an issue for us all, whether we're buying gas at the pumps, booking an airline ticket, or just picking up a loaf of bread at the grocery store.

Entrepreneurial Incentives and the Role of Initial Coin Offerings

Staff working paper 2019-18 Rodney J. Garratt, Maarten van Oordt
Initial coin offerings (ICOs) are a new mode of financing start-ups that saw an explosion in popularity in 2017 but declined in popularity in the second half of 2018 as regulatory pressure, instances of fraud and reports of poor performance began to undermine their reputation.

The Anatomy of Sentiment-Driven Fluctuations

Staff working paper 2021-33 Sushant Acharya, Jess Benhabib, Zhen Huo
We show that changes in sentiment that aren’t related to fundamentals can drive persistent macroeconomic fluctuations even when all economic agents are rational. Changes in sentiment can also affect how fundamental shocks affect macroeconomic outcomes.

Overlooking the online world: Does mismeasurement of the digital economy explain the productivity slowdown?

Staff analytical note 2021-10 Alejandra Bellatin, Stéphanie Houle
Since the mid-2000s, labour productivity has slowed down in Canada despite enormous technological advances that were expected to improve it. This note investigates whether mismeasurement of the digital economy can explain this paradox.

Interpreting Volatility Shocks as Preference Shocks

Staff working paper 2016-45 Shaofeng Xu
This paper examines the relationship between volatility shocks and preference shocks in an analytically tractable endogenous growth model with recursive preferences and stochastic volatility. I show that there exists an explicit mapping between volatility shocks and preference shocks, and a rise in volatility generates the same impulse responses of macroeconomic aggregates as a negative preference shock.
January 11, 2010

Bank of Canada Review - Winter 2009-2010

Winter 2009-2010
Causes and consequences of declining inflation persistence in Canada; the evolution of capital flows to emerging-market economies (EMEs) and the need for EMEs to implement policies that support capital flows; making bank notes accessible for Canadians living with blindness or low vision, sharing assessments of the suite of accessibility features on the current series of bank notes and plans for the next series.
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