Forecasting Inflation and the Inflation Risk Premiums Using Nominal Yields Staff Working Paper 2012-37 Bruno Feunou, Jean-Sébastien Fontaine We provide a decomposition of nominal yields into real yields, expectations of future inflation and inflation risk premiums when real bonds or inflation swaps are unavailable or unreliable due to their relative illiquidity. Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Econometric and statistical methods, Inflation and prices, Interest rates JEL Code(s): E, E4, E43, E47, G, G1, G12
The Role of Credit in International Business Cycles Staff Working Paper 2012-36 TengTeng Xu This paper examines the role of bank credit in modeling and forecasting business cycle fluctuations, and investigates the international transmission of US credit shocks, using a global vector autoregressive (GVAR) framework and associated country-specific error correction models. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Credit and credit aggregates, Econometric and statistical methods, International financial markets JEL Code(s): C, C3, C32, E, E3, E32, E4, E44, G, G2, G21
November 14, 2012 Promoting economic and financial prosperity Presentation Agathe Côté Chambre de commerce et de l’industrie de Rimouski-Neigette Rimouski, Québec Deputy Governor Agathe Côté will discuss the four main responsibilities of the Bank and its economic outlook. Content Type(s): Press, Speeches and appearances, Presentations
November 9, 2012 Weekly Financial Statistics - 9 November 2012 Content Type(s): Publications, Historical: Weekly Financial Statistics
When Lower Risk Increases Profit: Competition and Control of a Central Counterparty Staff Working Paper 2012-35 Jean-Sébastien Fontaine, Héctor Pérez Saiz, Joshua Slive We model the behavior of dealers in Over-the-Counter (OTC) derivatives markets where a small number of dealers trade with a continuum of heterogeneous clients (hedgers). Imperfect competition and (endogenous) default induce a familiar trade-off between competition and risk. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Financial stability, Financial system regulation and policies JEL Code(s): G, G1, G10, G18
November 8, 2012 Some Current Issues in Financial Reform Remarks Mark Carney Canadian Club of Montréal Montréal, Quebec Governor Mark Carney discusses financial system reform in a speech to the Canadian Club of Montréal. Content Type(s): Press, Speeches and appearances, Remarks
November 8, 2012 Global Financial System Safer Today, But Not Yet as Safe as It Needs To Be, Says Bank of Canada Governor Mark Carney Media Relations Montréal, Quebec The G-20’s ambitious financial sector reform agenda is creating a more open, resilient global financial system, which is central to the transformation of the global economy, Bank of Canada Governor Mark Carney said today in a speech to the Canadian Club of Montréal. The Governor provided an update of what has been accomplished and what […] Content Type(s): Press, Press releases