Posts

• December 31, 2012

  Summary of Government of Canada - Outstanding as at 31 December 2012

  Content Type(s): Publications, Historical: Securities and loans
• December 28, 2012

  Weekly Financial Statistics - 28 December 2012

  Content Type(s): Publications, Historical: Weekly Financial Statistics
• December 27, 2012

  Banking and Financial Statistics - December 2012

  Content Type(s): Publications, Historical: Banking and Financial Statistics
• December 21, 2012

  Weekly Financial Statistics - 21 December 2012

  Content Type(s): Publications, Historical: Weekly Financial Statistics
• December 21, 2012

  Results of the 21 December 2012 Term Repo Operation for Balance Sheet Management Purposes

  Results of today's term repo for balance sheet management purposes operation.

  Content Type(s): Press, Market notices

• How Important Are Liquidity Constraints for Canadian Households? Evidence from Micro-Data

  Staff Discussion Paper 2012-9 Umar Faruqui, Samah Torchani

  Using a unique micro-dataset containing real and financial information on Canadian households for 2000–07, the authors address two questions: (1) What is the proportion of households whose consumption displays excess sensitivity to income, and who are likely liquidity constrained?

  Content Type(s): Staff research, Staff discussion papers Topic(s): Economic models, Sectoral balance sheet JEL Code(s): C, C3, C35, D, D1, D12, D3, D30

• Extracting Information from the Business Outlook Survey Using Statistical Approaches

  Staff Discussion Paper 2012-8 Lise Pichette

  Since the autumn of 1997, the regional offices of the Bank of Canada have conducted quarterly consultations with businesses across Canada. These consultations, summarized in the Business Outlook Survey (BOS), are structured around a survey questionnaire that covers topics of importance to the Bank, notably business activity, pressures on production capacity, prices and inflation, and credit conditions.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Business fluctuations and cycles, Regional economic developments JEL Code(s): C, C4, C43, C8, C82, E, E3, E37

• On the Welfare Effects of Credit Arrangements

  Staff Working Paper 2012-43 Jonathan Chiu, Mei Dong, Enchuan Shao

  This paper studies the welfare effects of different credit arrangements and how these effects depend on the trading mechanism and inflation. In a competitive market, a deviation from the Friedman rule is always sub-optimal. Moreover, credit arrangements can be welfare-reducing, because increased consumption by credit users will drive up the price level so that money users have to reduce consumption when facing a binding liquidity restraint.

  Content Type(s): Staff research, Staff working papers Topic(s): Credit and credit aggregates, Payment clearing and settlement systems JEL Code(s): E, E4, E40, E5, E50

• Financial Crisis Resolution

  Staff Working Paper 2012-42 Josef Schroth

  This paper studies a dynamic version of the Holmstrom-Tirole model of intermediated finance. I show that competitive equilibria are not constrained efficient when the economy experiences a financial crisis. A pecuniary externality entails that banks’ desire to accumulate capital over time aggravates the scarcity of informed capital during the financial crisis.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Financial system regulation and policies JEL Code(s): D, D5, D53, E, E6, E60, G, G0, G01, G1, G10, G18
• December 20, 2012

  Bank of Canada Announces Details of a Term Repo for Balance Sheet Management Purposes Operation

  The Bank of Canada announced today that it will conduct a Term Repo for Balance Sheet Management Purposes operation.

  Content Type(s): Press, Market notices