June 19, 2008 Capitalizing on the Commodity Boom: the Role of Monetary Policy Remarks Mark Carney Haskayne School of Business Calgary, Alberta We are experiencing a commodity super cycle. Throughout the current boom, the scale of price increases has been higher, and the range of affected commodities broader, than in previous upturns. Since 2002, grain and oilseed prices have more than doubled, base metals prices have tripled, and oil prices have quadrupled. Content Type(s): Press, Speeches and appearances, Remarks
Macroprudential Rules and Monetary Policy when Financial Frictions Matter Staff Working Paper 2012-6 Jeannine Bailliu, Césaire Meh, Yahong Zhang This paper examines the interaction between monetary policy and macroprudential policy and whether policy makers should respond to financial imbalances. To address this issue, we build a dynamic general equilibrium model that features financial market frictions and financial shocks as well as standard macroeconomic shocks. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Financial markets, Financial stability, Monetary policy framework JEL Code(s): E, E4, E42, E5, E50, E6, E60
China's Exchange Rate Policy: A Survey of the Literature Staff Discussion Paper 2008-5 Robert Lafrance China's integration into the world economy has benefited its people by reducing poverty and raising living standards, and it has benefited the industrialized world by producing manufactured goods at lower cost. It has also raised geopolitical concerns as China's power grows, economic concerns as the manufacturing base in many industrialized countries erodes, and polemics as proposals of protectionist measures to counter China's export growth are put forward. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Exchange rate regimes JEL Code(s): F, F3, F33, F36
The Interplay of Financial Education, Financial Literacy, Financial Inclusion and Financial Stability: Any Lessons for the Current Big Tech Era? Staff Working Paper 2020-32 Nicole Jonker, Anneke Kosse The objective of this paper is twofold. First, we assess whether financial education might be a suitable tool to promote the financial inclusion opportunities that big techs provide. Second, we study how this potential financial inclusion could impact financial stability. Content Type(s): Staff research, Staff working papers Research Topic(s): Development economics, Digital currencies and fintech, Financial markets, Financial services, Financial stability JEL Code(s): D, D1, D14, D9, D91, D92, G, G2, G21, G23, O, O1, O16
Bitcoin Awareness and Usage in Canada: An Update Staff Analytical Note 2018-23 Christopher Henry, Kim Huynh, Gradon Nicholls The results of our 2017 Bitcoin Omnibus Survey (December 12 to 15, 2017) when compared with those from 2016 show that Bitcoin “awareness” increased from 64 to 85 per cent, while ownership increased from 2.9 to 5.0 per cent. Most Bitcoin purchasers are using the cryptocurrency as an investment and not as a means of payment for goods or services. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C1, C12, E, E4
April 14, 2007 Bank of Canada Review - Spring 2007 Cover page Gas Cards All gas cards pictured here are part of the National Currency Collection of the Bank of Canada. Content Type(s): Publications, Bank of Canada Review
Linear and Threshold Forecasts of Output and Inflation with Stock and Housing Prices Staff Working Paper 2006-25 Greg Tkacz, Carolyn A. Wilkins The authors examine whether simple measures of Canadian equity and housing price misalignments contain leading information about output growth and inflation. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Inflation and prices JEL Code(s): C, C5, C53, E, E4
Interpreting Money-Supply and Interest-Rate Shocks as Monetary-Policy Shocks Staff Working Paper 1996-8 Marcel Kasumovich In this paper two shocks are analysed using Canadian data: a money-supply shock ("M-shock") and an interest-rate shock ("R-shock"). Money-supply shocks are derived using long-run restrictions based on long-run propositions of monetary theory. Thus, an M-shock is represented by an orthogonalized innovation in the trend shared by money and prices. Content Type(s): Staff research, Staff working papers Research Topic(s): Monetary and financial indicators, Monetary policy transmission JEL Code(s): E, E4, E43, E5, E51
Incorporating Trip-Chaining to Measuring Canadians’ Access to Cash Staff Working Paper 2025-16 Heng Chen, Hongyu Xiao Our paper employs smartphone data to construct an improved cash access metric by accounting for both spatial agglomeration and households’ travel patterns. We find that incorporating trip-chaining into the travel metric could show that travel costs are from 15 to 25% less than not incorporating trip-chaining and that the biggest decrease is driven by rural residents. Content Type(s): Staff research, Staff working papers Research Topic(s): Bank notes, Financial services, Regional economic developments JEL Code(s): D, D1, D12, O, O1, O18, R, R2, R22, R4, R41
May 15, 2001 www.bankofcanada.ca—The Bank on the World Wide Web Bank of Canada Review - Spring 2001 Brent Eades This article by the Bank's Web master details the development of the Bank's Web site and highlights some of its special features. It includes a description of dataBANK, a custom-built interface to the Bank's economic databases that gives visitors access to 220 data series. It also provides a mini tour of monetary policy material "on site," as well as a taste of things to come. Above all, this article invites you to come and visit our site. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): International topics