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2095 Results

Measuring Systemic Risk Across Financial Market Infrastructures

Staff working paper 2016-10 Fuchun Li, Héctor Pérez Saiz
We measure systemic risk in the network of financial market infrastructures (FMIs) as the probability that two or more FMIs have a large credit risk exposure to the same FMI participant.

2023 Methods-of-Payment Survey Report: The Resilience of Cash

Staff discussion paper 2024-8 Christopher Henry, Matthew Shimoda, Doina Rusu
We present key results from the 2023 Methods-of-Payment Survey. Results show that measures of cash management and use have remained stable since 2020, and that Canadians increased their adoption of payment alternatives such as mobile apps in 2023.
Content Type(s): Staff research, Staff discussion papers JEL Code(s): D, D8, D83, E, E4, E41 Research Theme(s): Money and payments, Cash and bank notes, Retail payments

Sources of Borrowing and Fiscal Multipliers

Staff working paper 2018-32 Romanos Priftis, Srecko Zimic
This paper finds that debt-financed government spending multipliers vary considerably depending on the location of the debt buyer. In a sample of 33 countries, we find that government spending multipliers are larger when government purchases are financed by issuing debt to foreign investors (non-residents), compared with when government purchases are financed by issuing debt to home investors (residents).
February 9, 2022

The role of Canadian business in fostering non-inflationary growth

Remarks (delivered virtually) Tiff Macklem Canadian Chamber of Commerce Ottawa, Ontario
Governor Tiff Macklem discusses how business investment and stronger productivity are vital to sustaining non-inflationary economic growth.
May 13, 2014

Beyond the Unemployment Rate: Assessing Canadian and U.S. Labour Markets Since the Great Recession

This article provides a broad perspective on the performance of the labour market in Canada and the United States since the Great Recession. It also presents a simple way to summarize much of this information in a single composite labour market indicator (LMI) for both countries. The LMI suggests that the unemployment rate in Canada has evolved largely in line with overall labour market conditions since the recession, but may have modestly overstated the extent of recent improvement. The U.S. unemployment rate, in contrast, appears to have substantially overstated the post-recession improvement in labour market conditions.
Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): E, E2, E24, J, J2, J21, J23
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.

August 24, 2004

The Efficiency of Canadian Capital Markets: Some Bank of Canada Research

Capital markets and their related financial instruments make an important contribution to the welfare of Canadians. The Bank of Canada is interested in the efficient functioning of capital markets through each of its responsibilities for monetary policy, the financial system, and funds management. Hendry and King highlight the key findings of Bank research published over the past year that addresses capital market efficiency and summarize lessons that have been learned. The research conducted thus far suggests that Canadian capital markets are efficient for a capital market of Canada's size but are less diverse than the U.S. capital markets, indicating that there is room for improvement in certain areas.
December 13, 2007

Central Bank Performance under Inflation Targeting

Gosselin examines and reports on the various factors that contribute to successful inflation targeting. Using a panel of 21 inflation-targeting countries over the period 1990Q1-2007Q2, Gosselin finds that the ability of central banks to hit their targets varies considerably. Some of these differences can be explained by exchange rate fluctuations, fiscal deficits, and differences in financial development. Others are explained by differences in the targeting framework itself and the manner in which it is implemented.

Timing of Banks’ Loan Loss Provisioning During the Crisis

Staff working paper 2016-27 Leo de Haan, Maarten van Oordt
We estimate a panel error correction model for loan loss provisions, using unique supervisory data on flow of funds into and out of the allowance for loan losses of 25 Dutch banks in the post-2008 crisis period. We find that these banks aim for an allowance of 49% of impaired loans.
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