The Canadian corporate investment gap Staff analytical note 2020-19 Chris D'Souza, Timothy Grieder, Daniel Hyun, Jonathan Witmer Business investment has been lower than expected in Canada and abroad since the financial crisis of 2007–09. This corporate investment gap is mirrored in firms’ other financing decisions, as they have increased cash holdings and dividend payments and decreased issuance of debt and equity. Content Type(s): Staff research, Staff analytical notes JEL Code(s): D, D2, D22, D9, D92, G, G3, G31, G32 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Real economy and forecasting
October 24, 2016 Renewal of the Inflation-Control Target (October 2016) Commentary and technical data relating to the 2016 target renewal. Content Type(s): Background materials
How to Predict Financial Stress? An Assessment of Markov Switching Models Staff working paper 2017-32 Benjamin Klaus, Thibaut Duprey This paper predicts phases of the financial cycle by using a continuous financial stress measure in a Markov switching framework. The debt service ratio and property market variables signal a transition to a high financial stress regime, while economic sentiment indicators provide signals for a transition to a tranquil state. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C54, G, G0, G01, G1, G15 Research Theme(s): Financial system, Financial stability and systemic risk, Models and tools, Econometric, statistical and computational methods
February 17, 2011 Payment Networks: A Review of Recent Research Bank of Canada Review - Winter 2010-2011 James Chapman, Lana Embree, Tom Roberts, Nellie Zhang In this article, the authors review work done at the Bank of Canada and at other central banks with the relatively new application of network analysis to the study of payments systems. Content Type(s): Publications, Bank of Canada Review articles
Reviewing Canada’s Monetary Policy Implementation System: Does the Evolving Environment Support Maintaining a Floor System? Staff discussion paper 2023-10 Toni Gravelle, Ron Morrow, Jonathan Witmer At the onset of the pandemic, the Bank of Canada transitioned its framework for monetary policy implementation from a corridor system to a floor system, which it has since decided to maintain. We provide a comprehensive analysis of both frameworks and assess their relative merits based on five key criteria that define a sound framework. Content Type(s): Staff research, Staff discussion papers JEL Code(s): D, D4, D47, E, E4, E42, E5, E58 Research Theme(s): Financial markets and funds management, Market structure, Monetary policy, Monetary policy tools and implementation, Money and payments, Payment and financial market infrastructures
September 7, 2012 Dutch Disease Remarks Mark Carney Spruce Meadows Round Table Calgary, Alberta Governor Mark Carney discusses the impact of high commodity prices for the Canadian economy. Content Type(s): Press, Speeches and appearances, Remarks
February 21, 2013 Bank of Canada Review - Winter 2012-2013 This issue features a summary of the Bank’s annual conference, Financial Intermediation and Vulnerabilities, which took place in October 2012, as well as two articles that present analysis of international macroeconomic coordination since the global financial crisis and the U.S. recovery from the Great Recession. Content Type(s): Publications, Bank of Canada Review
January 11, 2010 Bank of Canada Review - 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. Content Type(s): Publications, Bank of Canada Review
November 18, 2010 Financial Stress, Monetary Policy, and Economic Activity Bank of Canada Review - Autumn 2010 Fuchun Li, Pierre St-Amant The recent global crisis was characterized by a remarkable intensity in the negative feedback process between financial sector developments and the real economy. Content Type(s): Publications, Bank of Canada Review articles
November 19, 2010 Has Exchange Rate Pass-Through Really Declined? Some Recent Insights from the Literature Bank of Canada Review - Autumn 2010 Jeannine Bailliu, Wei Dong, John Murray Building on an earlier Review article, the authors critically reassess the premise that exchange rate pass-through (ERPT) has declined in light of recent studies of the issue in the context of a dynamic stochastic general-equilibrium framework. Content Type(s): Publications, Bank of Canada Review articles