June 23, 2005 Understanding the Benefits and Risks of Synthetic Collateralized Debt Obligations Financial System Review - June 2005 Jim Armstrong, John Kiff Content Type(s): Publications, Financial System Review articles
Early signs of AI-driven adjustments in Canada’s labour market Sparks at Bank article Dany Brouillette, Tatjana Dahlhaus, Gabriela Galassi AI has the potential to reshape the labour market by automating some tasks for many workers. Even though evidence of a significant impact on the labour market remains limited, AI appears to be making it harder for some Canadians to find work in occupations that are most exposed to it. Content Type(s): Staff research, Sparks at Bank article Research Theme(s): Structural challenges, Demographics and labour supply, Digitalization and productivity
August 18, 2010 Strengthening International Capital and Liquidity Standards: A Macroeconomic Impact Assessment for Canada G-20 leaders have agreed on comprehensive financial sector reforms to reduce the risk of future crises and to strengthen banking systems. Raising the amount and quality of capital and liquidity that financial institutions must carry is a central component of the reforms. The G-20 is developing a set of proposals for agreement by leaders at […]
From Micro to Macro Hysteresis: Long-Run Effects of Monetary Policy Staff working paper 2024-39 Felipe Alves, Giovanni L. Violante We explore the long-run effects of a monetary policy shock in a Heterogeneous Agent New Keynesian model built on the micro evidence that job losses lead to persistently lower individual earnings through a combination of skill decay and abandonment of the labour force. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E21, E24, E3, E31, E32, E5, E52, J, J2, J24, J6, J64 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Real economy and forecasting, Structural challenges, Demographics and labour supply
BoC–BoE Sovereign Default Database: Methodology, Assumptions and Sources Technical report No. 117 David Beers, Elliot Jones, John Walsh Until recently, few efforts have been made to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. To help fill this gap, the Bank of Canada (BoC) developed a comprehensive database of sovereign defaults that is posted on its website and updated in partnership with the Bank of England (BoE). Content Type(s): Staff research, Technical reports JEL Code(s): F, F3, F34, G, G1, G10, G14, G15 Research Theme(s): Financial markets and funds management, Funds management, Financial system, Financial stability and systemic risk
August 27, 2020 The imperative for public engagement Remarks (delivered virtually) Tiff Macklem Federal Reserve Bank of Kansas City Jackson Hole Symposium Jackson Hole, Wyoming Governor Tiff Macklem talks about the need for the Bank to be clear, relatable and understandable when it communicates with the public. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economic models, Economy/Economic growth, Inflation targeting framework
Government Spending Multipliers Under the Zero Lower Bound: Evidence from Japan Staff working paper 2017-40 Thuy Lan Nguyen, Dmitriy Sergeyev, Wataru Miyamoto Using a rich data set on government spending forecasts in Japan, we provide new evidence on the effects of unexpected changes in government spending when the nominal interest rate is near the zero lower bound (ZLB). Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E32, E5, E6, E62 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Real economy and forecasting
The Role of Public Money in the Digital Age Staff discussion paper 2024-11 Francisco Rivadeneyra, Scott Hendry, Alejandro García A well-functioning monetary system is characterized by public and private forms of money that exchange at par as value flows freely between them. A relevant retail public money—whether in the form of cash, a central bank digital currency or both—is a necessary component of such a monetary system. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E4, E42, E5, E50, E58 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Retail payments
November 18, 2010 Trends in Issuance: Underlying Factors and Implications Bank of Canada Review - Autumn 2010 Jonathan Witmer Trends in debt issuance have changed significantly over the past decade, both prior to the financial crisis and subsequently. Content Type(s): Publications, Bank of Canada Review articles
August 18, 2011 Bank Balance Sheets, Deleveraging and the Transmission Mechanism Bank of Canada Review - Summer 2011 Césaire Meh The author investigates the influence of bank capital on economic activity, using a macroeconomic model that incorporates an explicit role for financial intermediation. The analysis focuses on the role of a “bank-capital channel” in propagating and amplifying monetary policy actions and other shocks. The question of whether weaker bank balance sheets make the economy more vulnerable to adverse shocks is examined, together with the impact of initiatives, such as countercyclical capital buffers, on the transmission of monetary policy and other shocks to the real economy. Content Type(s): Publications, Bank of Canada Review articles