October 26, 2018 Staff economic projections These forecasts are provided to Governing Council in preparation for monetary policy decisions. They are released once a year with a five-year lag.
The Macroeconomic Effects of Portfolio Equity Inflows Staff working paper 2023-31 Nick Sander I provide evidence that portfolio equity inflows can have expansionary effects on GDP and inflation if not offset by monetary policy. I use a shift-share instrument to estimate equity inflows based on plausibly exogenous timing of inflows into mutual funds with heterogeneous country portfolios. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E32, F, F3, F32, F4, F44 Research Theme(s): Financial system, Financial stability and systemic risk, Monetary policy, Monetary policy framework and transmission, Structural challenges, International trade, finance and competitiveness
June 15, 2011 Housing in Canada Remarks Mark Carney Vancouver Board of Trade Vancouver, British Columbia In a speech to the Vancouver Board of Trade, Governor Mark Carney discusses the fundamentals of the Canadian residential real estate market, the international context, and the implications for monetary policy. Content Type(s): Press, Speeches and appearances, Remarks
November 14, 2013 Bank of Canada Review - Autumn 2013 The three articles in this issue provide an overview of the monetary policy decision-making process at the Bank of Canada, a discussion of Bank research on the assessment of vulnerabilities in the financial system and a description of recent fragmentation in Canadian equity markets. Content Type(s): Publications, Bank of Canada Review
June 13, 2013 The Market for Collateral: The Potential Impact of Financial Regulation Financial System Review - June 2013 Jorge Cruz Lopez, Royce Mendes, Harri Vikstedt Content Type(s): Publications, Financial System Review articles
What COVID-19 May Leave Behind: Technology-Related Job Postings in Canada Staff working paper 2022-17 Alejandra Bellatin, Gabriela Galassi COVID-19 affects technology adoption: online job postings for technology-related occupations fall less during pandemic lockdowns and pick up faster during reopenings than postings for more traditional occupations. Content Type(s): Staff research, Staff working papers JEL Code(s): J, J2, J23, J24, O, O1, O14 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply, Digitalization and productivity
Is the Discretionary Income Effect of Oil Price Shocks a Hoax? Staff working paper 2017-50 Christiane Baumeister, Lutz Kilian, Xiaoqing Zhou The transmission of oil price shocks has been a question of central interest in macroeconomics since the 1970s. There has been renewed interest in this question after the large and persistent fall in the real price of oil in 2014–16. In the context of this debate, Ramey (2017) makes the striking claim that the existing literature on the transmission of oil price shocks is fundamentally confused about the question of how to quantify the effect of oil price shocks. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C51, Q, Q4, Q43 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Economic models, Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
A Framework for Analyzing Monetary Policy in an Economy with E-money Staff working paper 2019-1 Yu Zhu, Scott Hendry This paper considers an economy where central-bank-issued fiat money competes with privately issued e-money. We study a policy-setting game between the central bank and the e-money issuer and find (1) the optimal monetary policy of the central bank depends on the policy of the private issuer and may deviate from the Friedman rule; (2) multiple equilibria may exist; (3) when the economy approaches a cashless state, the central bank’s optimal policy improves the market power of the e-money issuer and can lead to a discrete decrease in welfare and a discrete increase in inflation; and (4) first best cannot be achieved. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, E52 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation, Money and payments, Digital assets and fintech
June 21, 2009 Procyclicality and Bank Capital Financial System Review - June 2009 Neville Arjani Content Type(s): Publications, Financial System Review articles
December 20, 2010 Strengthening the Infrastructure of Over-the-Counter Derivatives Markets Financial System Review - December 2010 Carolyn A. Wilkins, Elizabeth Woodman Content Type(s): Publications, Financial System Review articles