November 11, 2009 The Evolution of Capital Flows to Emerging-Market Economies Bank of Canada Review - Winter 2009-2010 Lena Suchanek, Garima Vasishtha Many emerging-market economies (EMEs) have significantly improved their macroeconomic fundamentals and undergone structural reforms since the Asian crisis. These developments have enhanced the composition of capital flows to EMEs through an improved debt structure, a larger share of capital flows as foreign direct investment, and greater access to international debt markets for corporations in EMEs. Structural changes in the global financial landscape have also increased capital flows, bringing economic and financial benefits to EMEs. During the recent financial crisis, however, the opening up of capital accounts and increased financial and trade linkages left many countries vulnerable to external disruptions. Countries with sound fundamentals have weathered the crisis relatively well. Policy-makers in EMEs need to implement policies that support capital flows and ensure that controls imposed to deal with detrimental outflows during periods of stress or rapid inflows are only temporary. Content Type(s): Publications, Bank of Canada Review articles
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.
Digitalization and Inflation: A Review of the Literature Staff analytical note 2017-20 Karyne B. Charbonneau, Alexa Evans, Subrata Sarker, Lena Suchanek In the past few years, many have postulated that the possible disinflationary effects of digitalization could explain the subdued inflation in advanced economies. In this note, we review the evidence found in the literature. We look at three main channels. Content Type(s): Staff research, Staff analytical notes JEL Code(s): D, D2, D22, E, E3, E31, L, L8, L81, O, O3, O33 Research Theme(s): Financial markets and funds management, Market structure, Monetary policy, Inflation dynamics and pressures, Structural challenges, Digitalization and productivity
December 8, 2011 Strengthening Bank Management of Liquidity Risk: The Basel III Liquidity Standards Financial System Review - December 2011 Natasha Khan, Tamara Gomes Content Type(s): Publications, Financial System Review articles
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
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
Beating the “pros” with a semi-structural model of their own inflation forecasts Staff working paper 2026-11 Sergio A. Lago Alves, Waldyr Dutra Areosa, Carlos Viana de Carvalho How can Surveys of Professional Forecasters (SPF) be used to improve inflation forecasts? By using US historical quarterly data on SPF forecasts, we provide better understanding of how we can use forecast disagreement to improve our own forecasts. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C1, C11, C5, C53, E, E3, E31, E37 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
What Drives Interbank Loans? Evidence from Canada Staff working paper 2018-5 Narayan Bulusu, Pierre Guérin We identify the drivers of unsecured and collateralized loan volumes, rates and haircuts in Canada using the Bayesian model averaging approach to deal with model uncertainty. Our results suggest that the key friction driving behaviour in this market is the collateral reallocation cost faced by borrowers. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C55, E, E4, E43, G, G2, G23 Research Theme(s): Financial markets and funds management, Market functioning, Financial system, Financial institutions and intermediation, Monetary policy, Monetary policy framework and transmission
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