The Canadian Neutral Rate of Interest through the Lens of an Overlapping-Generations Model Staff Discussion Paper 2023-5 Martin Kuncl, Dmitry Matveev We use a small open economy model with overlapping generations to evaluate secular dynamics of the neutral rate in Canada from 1980 to 2018. We find that changes in both foreign and domestic factors resulted in a protracted decline in the neutral rate. Content Type(s): Staff research, Staff discussion papers Topic(s): Economic models, Interest rates, Monetary policy JEL Code(s): E, E2, E21, E22, E4, E43, E5, E50, E52, E58, F, F4, F41
Learning in a Complex World: Insights from an OLG Lab Experiment Staff Working Paper 2023-13 Cars Hommes, Stefanie J. Huber, Daria Minina, Isabelle Salle This paper brings novel insights into group coordination and price dynamics in complex environments. We implement a chaotic overlapping-generation model in the lab and find that group coordination is always on the steady state or on the two-cycle and that behavior is non-monotonic. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Economic models JEL Code(s): C, C6, C62, C68, C9, C91, C92, E, E1, E13, E7, E70, G, G1, G12, G4, G41
February 17, 2023 Research leadership Profiles of the Bank’s economic research leadership, featuring their publications, education, and research fields.
February 17, 2023 Financial System Survey Presents the key results from the Bank of Canada Financial System Survey.
February 17, 2023 Financial Stability Report An assessment of potential risks to the stability of Canada's financial system.
February 16, 2023 Our commitment to 2% inflation Speech summary Paul Beaudry Alberta School of Business Edmonton, Alberta Deputy Governor Paul Beaudry explains why the 2% target remains the centrepiece of the Bank of Canada’s inflation-targeting framework. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Exchange rates, Inflation targets
February 16, 2023 Speech by Paul Beaudry, Deputy Governor of the Bank of Canada On Thursday, February 16, 2023, Paul Beaudry, Deputy Governor of the Bank of Canada, will speak before the Alberta School of Business, University of Alberta. Content Type(s): Press, Media advisories
February 16, 2023 No two ways about it: Why the Bank is committed to getting back to 2% Remarks Paul Beaudry Alberta School of Business Edmonton, Alberta Deputy Governor Paul Beaudry discusses the benefits of being near the Bank’s 2% inflation target and the dangers of straying from it for too long. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Exchange rates, Inflation targets