Narayan Bulusu - Latest - Bank of Canada
https://www.bankofcanada.ca/rss-feeds/
Bank of Canada RSS Feedsen2024-03-28T21:32:45+00:00Estimating the Appropriate Quantity of Settlement Balances in a Floor System
https://www.bankofcanada.ca/2023/10/staff-discussion-paper-2023-26/
This paper presents two complementary approaches to estimating the appropriate quantity of settlement balances needed to effectively operate monetary policy under a floor system in Canada.2023-10-13T12:36:33+00:00enEstimating the Appropriate Quantity of Settlement Balances in a Floor System2023-10-13Financial institutionsFinancial marketsFinancial system regulation and policiesMonetary policy implementationPayment clearing and settlement systemsStaff Discussion Paper 2023-26https://www.bankofcanada.ca/wp-content/uploads/2023/10/sdp2023-26.pdfEstimating the Appropriate Quantity of Settlement Balances in a Floor SystemNarayan BulusuMatthew McNeelyKaetlynd McRaeJonathan WitmerOctober 2023EE4E41E42E5E52E58GG2G21G28Why Do Central Banks Make Public Announcements of Open Market Operations?
https://www.bankofcanada.ca/2020/09/staff-working-paper-2020-35/
Central banks communicate the results of open market operations. This helps participants in financial markets more accurately estimate the prevailing demand and supply conditions in the market for overnight loans.2020-09-01T07:23:08+00:00enWhy Do Central Banks Make Public Announcements of Open Market Operations?2020-09-01Central bank researchMonetary policy implementationStaff Working Paper 2020-35https://www.bankofcanada.ca/wp-content/uploads/2020/09/swp2020-35.pdfWhy Do Central Banks Make Public Announcements of Open Market Operations?Narayan BulusuAugust 2020DD5D52EE5E58GG2G21Government of Canada Securities in the Cash, Repo and Securities Lending Markets
https://www.bankofcanada.ca/2018/01/staff-discussion-paper-2018-4/
This paper documents the properties of Government of Canada securities in cash, repo and securities lending transactions over their life cycle. By tracking every security from issuance to maturity, we are able to highlight inter-linkages between the markets for cash and for specific securities.2018-01-31T13:44:50+00:00enGovernment of Canada Securities in the Cash, Repo and Securities Lending Markets2018-01-31Financial marketsWholesale fundingStaff Discussion Paper 2018-4https://www.bankofcanada.ca/wp-content/uploads/2018/01/sdp2018-4.pdfGovernment of Canada Securities in the Cash, Repo and Securities Lending MarketsNarayan BulusuSermin GungorJanuary 2018GG1G12G2G21G23What Drives Interbank Loans? Evidence from Canada
https://www.bankofcanada.ca/2018/01/staff-working-paper-2018-5/
We identify the drivers of unsecured and collateralized loan volumes, rates and haircuts in Canada using the Bayesian model averaging approach to deal with model uncertainty. Our results suggest that the key friction driving behaviour in this market is the collateral reallocation cost faced by borrowers.2018-01-31T10:42:42+00:00enWhat Drives Interbank Loans? Evidence from Canada2018-01-31Financial marketsWholesale fundingStaff Working Paper 2018-5https://www.bankofcanada.ca/wp-content/uploads/2018/01/swp2018-5.pdfWhat Drives Interbank Loans? Evidence from CanadaNarayan BulusuPierre GuérinJanuary 2018CC5C55EE4E43GG2G23The Life Cycle of Government of Canada Bonds in Core Funding Markets
https://www.bankofcanada.ca/wp-content/uploads/2017/05/boc-review-spring17-bulusu.pdf
Data on the use of government securities in the repo, securities lending and cash markets suggest there are bond market clienteles in Canada. Shorter-term bonds are more prevalent in the repo market, while longer-maturity securities are more active in the securities lending market—consistent with the preferred habitat hypothesis. These results could help design better debt-management strategies and more-effective policies to maintain well-functioning financial markets.2017-05-11T10:28:08+00:00enThe Life Cycle of Government of Canada Bonds in Core Funding Markets2017-05-11Can the Common-Factor Hypothesis Explain the Observed Housing Wealth Effect?
https://www.bankofcanada.ca/2016/12/staff-working-paper-2016-62/
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.2016-12-30T09:39:12+00:00enCan the Common-Factor Hypothesis Explain the Observed Housing Wealth Effect?2016-12-30Economic modelsHousingStaff Working Paper 2016-62https://www.bankofcanada.ca/wp-content/uploads/2016/12/swp2016-62.pdfCan the Common-Factor Hypothesis Explain the Observed Housing Wealth Effect?Narayan BulusuJefferson DuarteCarles Vergara-AlertDecember 2016EE2E21RR3R31Booms and Busts in House Prices Explained by Constraints in Housing Supply
https://www.bankofcanada.ca/2013/06/working-paper-2013-18/
We study the importance of supply constraints in explaining the heterogeneity in house price cycles across geographies in the United States.2013-06-11T08:45:31+00:00enBooms and Busts in House Prices Explained by Constraints in Housing Supply2013-06-11Asset pricingEconomic modelsWorking Paper 2013-18https://www.bankofcanada.ca/wp-content/uploads/2013/06/wp2013-18.pdfBooms and Busts in House Prices Explained by Constraints in Housing SupplNarayan BulusuJefferson DuarteCarles Vergara-AlertJune 2013RR3R31Modelling the Asset-Allocation and Liability Strategy for Canada’s Foreign Exchange Reserves
https://www.bankofcanada.ca/wp-content/uploads/2013/05/boc-review-spring13-rivadeneyra.pdf
The Bank of Canada recently developed an asset-liability-matching model to aid in the management of Canada’s foreign exchange reserves. The model allows policy-makers at the Bank and the Department of Finance to analyze asset-allocation and funding-mix decisions by quantifying both the risk-return and liquidity trade-offs for the assets, as well as the risk-cost trade-offs of the funding liabilities.2013-05-16T07:37:03+00:00enModelling the Asset-Allocation and Liability Strategy for Canada’s Foreign Exchange Reserves2013-05-16