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
Is Climate Transition Risk Priced into Corporate Credit Risk? Evidence from Credit Default Swaps Staff working paper 2023-38 Andrea Ugolini, Juan C. Reboredo, Javier Ojea Ferreiro We study whether the credit derivatives of firms reflect the risk from climate transition. We find that climate transition risk has asymmetric and significant economic impacts on the credit risk of more vulnerable firms, and negligible effects on other firms. Content Type(s): Staff research, Staff working papers Research Topic(s): Climate change, Credit risk management, Econometric and statistical methods JEL Code(s): C, C2, C24, G, G1, G12, G3, G32, Q, Q5, Q54 Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit, Structural challenges, Climate change
October 25, 2005 Bank of Canada Review - Autumn 2005 Cover page Ready References The book is part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
Government Corruption and Foreign Direct Investment Under the Threat of Expropriation Staff working paper 2016-13 Christopher Hajzler, Jonathan Rosborough Foreign investment is often constrained by two forms of political risk: expropriation and corruption. We examine the role of government corruption in foreign direct investment (FDI) when contracts are not fully transparent and investors face the threat of expropriation. Content Type(s): Staff research, Staff working papers Research Topic(s): Development economics, Economic models, International topics JEL Code(s): F, F2, F21, F23, F3, F34 Research Theme(s): Financial system, Financial stability and systemic risk, Models and tools, Economic models, Structural challenges, International trade, finance and competitiveness
November 16, 2017 An Update on the Neutral Rate of Interest Bank of Canada Review - Autumn 2017 José Dorich, Abeer Reza, Subrata Sarker The neutral rate serves as a benchmark for measuring monetary stimulus and provides a medium- to long-run anchor for the real policy rate. Global neutral rate estimates have been falling over the past few decades. Factors such as population aging, high corporate savings, and low trend productivity growth are likely to continue supporting a low global neutral rate. These global factors as well as domestic factors are exerting downward pres-sure on the Canadian real neutral rate, which is estimated to be between 0.5 to 1.5 per cent. This low neutral rate has important implications for monetary policy and financial stability. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Interest rates, International topics, Potential output, Recent economic and financial developments JEL Code(s): E, E4, E43, E5, E52, E58, F, F0, F01, F4, F43, O, O4
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 Research Topic(s): Inflation and prices, Market structure and pricing, Productivity 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
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
Examining the Links Between Firm Performance and Insolvency Staff discussion paper 2025-10 Dylan Hogg, Hossein Hosseini Jebeli Assessing insolvency dynamics is essential for evaluating the financial health of non-financial corporations and mitigating macroeconomic and financial stability risks. This study leverages a newly created Statistics Canada dataset linking insolvency records with firm-level financial data to develop a robust framework for monitoring insolvency risk Content Type(s): Staff research, Staff discussion papers Research Topic(s): Credit and credit aggregates, Econometric and statistical methods, Financial stability, Firm dynamics JEL Code(s): D, D2, D22, G, G3, G33, L, L2, L20 Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit, Models and tools, Econometric, statistical and computational methods
Central Bank Liquidity Policy in Modern Times Staff discussion paper 2024-6 Skylar Brooks Across several dimensions of lender of last resort policy, I highlight broad changes that have occurred since the 2008–09 global financial crisis and discuss some of the key challenges, choices and considerations facing the designers of central bank liquidity tools today. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Central bank research, Financial institutions, Financial markets, Financial stability, Lender of last resort JEL Code(s): D, D5, D53, E, E5, E58, E6, E61, G, G0, G01, G2, G21, G23, H, H1, H12 Research Theme(s): Financial system, Financial stability and systemic risk, Monetary policy, Monetary policy tools and implementation