Terms-of-Trade and House Price Fluctuations: A Cross-Country Study Staff Working Paper 2017-1 Paul Corrigan Terms-of-trade shocks are known to be key drivers of business cycles in open economies. This paper argues that terms-of-trade shocks were also important for house price fluctuations in a panel of developed countries over the 1994–2015 period. Content Type(s): Staff research, Staff working papers Topic(s): Financial stability, Housing, International topics JEL Code(s): C, C3, C32, E, E3, E32, E5, E51, F, F3, F36, F4, F41
January 5, 2017 Pilot – Government of Canada Cash Management Bond Buyback Program The Bank of Canada and the Department of Finance are announcing today a pilot for the Government of Canada Cash Management Bond Buyback program that will increase flexibility in the maximum repurchase amount at each operation. Content Type(s): Press, Market notices
December 31, 2016 Summary of Government of Canada - Outstanding as at 31 December 2016 Content Type(s): Publications, Historical: Securities and loans
December 30, 2016 Weekly Financial Statistics - 30 December 2016 Content Type(s): Publications, Historical: Weekly Financial Statistics
Information Sharing and Bargaining in Buyer-Seller Networks Staff Working Paper 2016-63 Sofia Priazhkina, Frank H. Page This paper presents a model of strategic buyer-seller networks with information exchange between sellers. Prior to engaging in bargaining with buyers, sellers can share access to buyers for a negotiated transfer. We study how this information exchange affects overall market prices, volumes and welfare, given different initial market conditions and information sharing rules. Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Firm dynamics, Market structure and pricing JEL Code(s): C, C7, C71, C78, D, D2, D21, D4, D43, D8, D85, L, L1, L13
Can the Common-Factor Hypothesis Explain the Observed Housing Wealth Effect? Staff Working Paper 2016-62 Narayan Bulusu, Jefferson Duarte, Carles Vergara-Alert The common-factor hypothesis is one possible explanation for the housing wealth effect. Under this hypothesis, house price appreciation is related to changes in consumption as long as the available proxies for the common driver of housing and non-housing demand are noisy and housing supply is not perfectly elastic. Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Housing JEL Code(s): E, E2, E21, R, R3, R31
December 30, 2016 Research Update - December 2016 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters