April 26, 2002 The Interaction Between Monetary and Fiscal Policies Lecture David Dodge School of Policy Studies Queen's University Kingston, Ontario Donald Gow had a great interest in public administration and in budgetary reform in the federal government.1 He was one in a long line of Queen's professors who have focused on various budgetary matters at the federal level. Content Type(s): Press, Speeches and appearances, Lectures
December 13, 2007 Central Bank Performance under Inflation Targeting Bank of Canada Review - Winter 2007-2008 Marc-André Gosselin 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. Content Type(s): Publications, Bank of Canada Review articles
Assessing the US and Canadian neutral rates: 2024 update Staff analytical note 2024-9 Frida Adjalala, Felipe Alves, Hélène Desgagnés, Wei Dong, Dmitry Matveev, Laure Simon We assess both the US and Canadian nominal neutral rates to be in the range of 2.25% to 3.25%, somewhat higher than the range of 2.0% to 3.0% in 2023. The assessed range is back to the level it was at in April 2019. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E4, E40, E43, E5, E50, E52, E58, F, F4, F41 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Structural challenges, Demographics and labour supply
Sequencing Extended Monetary Policies at the Effective Lower Bound Staff discussion paper 2021-10 Yang Zhang, Lena Suchanek, Jonathan Swarbrick, Joel Wagner, Tudor Schlanger In this analysis, we use simulations in the Bank of Canada’s projection model—the Terms-of-Trade Economic Model—to consider a suite of extended monetary policies to support the economy following the COVID-19 crisis. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E3, E4, E5, E52, E58 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy tools and implementation
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. Content Type(s): Staff research, Staff working papers JEL Code(s): G, G0, G01, G2, G21, G3, G32 Research Theme(s): Financial system, Financial institutions and intermediation, Financial stability and systemic risk
May 13, 2014 Beyond the Unemployment Rate: Assessing Canadian and U.S. Labour Markets Since the Great Recession Bank of Canada Review - Spring 2014 Konrad Zmitrowicz, Mikael Khan 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
The Government of Canada Debt Securities Data Set Technical report No. 112 Jeffrey Gao, Francisco Rivadeneyra, Gabriel Rodriguez Rondon We present the daily time series of the outstanding amounts of all Government of Canada marketable debt securities from July 2001 to June 2017. Content Type(s): Staff research, Technical reports JEL Code(s): C, C8, C80, G, G1, G10, H, H6, H63 Research Theme(s): Financial markets and funds management, Funds management, Models and tools, Econometric, statistical and computational methods
February 1, 2012 Managing Operational Risk in Clearing and Settlement Systems Financial System Review - June 2003 Kim McPhail Content Type(s): Publications, Financial System Review articles
A Three‐Frequency Dynamic Factor Model for Nowcasting Canadian Provincial GDP Growth Staff discussion paper 2017-8 Tony Chernis, Gabriella Velasco, Calista Cheung This paper estimates a three‐frequency dynamic factor model for nowcasting Canadian provincial gross domestic product (GDP). Canadian provincial GDP is released by Statistics Canada on an annual basis only, with a significant lag (11 months). Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C5, C53, E, E3, E32, E37, R, R1, R11 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Economic models, Monetary policy, Real economy and forecasting
February 1, 2012 The Syndicated Loan Market: Developments in the North American Context Financial System Review - June 2003 Jim Armstrong Content Type(s): Publications, Financial System Review articles