F33 - International Monetary Arrangements and Institutions - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T20:52:44+00:00Foreign Exchange Interventions: The Long and the Short of It
https://www.bankofcanada.ca/2022/06/staff-working-paper-2022-25/
This paper studies the effects of foreign exchange (FX) interventions in a two-region model where governments issue both short- and long-term bonds. We find that the term premium channel dominates the trade balance channel in our calibrated model. As a result, the conventional beggar-thy-neighbor effects of interventions are overturned.2022-06-06T15:10:58+00:00enForeign Exchange Interventions: The Long and the Short of It2022-06-06Business fluctuations and cyclesExchange rate regimesExchange ratesForeign reserves managementInternational financial marketsInternational topicsStaff Working Paper 2022-25https://www.bankofcanada.ca/wp-content/uploads/2022/06/swp2022-25.pdfForeign Exchange Interventions: The Long and the Short of ItPatrick AlexanderSami AlpandaSerdar KabacaJune 2022FF3F31F33F4F41Exports and the Exchange Rate: A General Equilibrium Perspective
https://www.bankofcanada.ca/2022/04/staff-working-paper-2022-18/
How do a country’s exports change when its currency depreciates? Does it matter which forces drive the exchange rate deprecation in the first place? We find that this relationship varies greatly depending on what drives exchange rate movements, and we conclude that the direct relationship between the exchange rate and exports is weak for Canada.2022-04-04T14:42:27+00:00enExports and the Exchange Rate: A General Equilibrium Perspective2022-04-04Balance of payments and componentsBusiness fluctuations and cyclesExchange rate regimesExchange ratesInternational topicsMonetary policy transmissionTrade integrationStaff Working Paper 2022-18https://www.bankofcanada.ca/wp-content/uploads/2022/04/swp2022-18.pdfExports and the Exchange Rate: A General Equilibrium PerspectivePatrick AlexanderAbeer RezaApril 2022FF3F31F32F33F4F41Global Trade Flows: Revisiting the Exchange Rate Elasticities
https://www.bankofcanada.ca/2017/09/staff-working-paper-2017-41/
This paper contributes to the debate on the magnitude of exchange rate elasticities by providing a set of price and quantity elasticities for 51 advanced and emerging-market economies. Specifically, for each of these countries we report the elasticity of trade prices and trade quantities on both the export and on the import sides, as well as the reaction of the trade balance.2017-09-29T13:16:42+00:00enGlobal Trade Flows: Revisiting the Exchange Rate Elasticities2017-09-29Exchange ratesInflation and pricesInternational topicsStaff Working Paper 2017-41https://www.bankofcanada.ca/wp-content/uploads/2017/09/swp2017-41.pdfGlobal Trade Flows: Revisiting the Exchange Rate ElasticitiesMatthieu BussièreGuillaume GaulierWalter SteingressSeptember 2017CC5C51FF1F14F3F31F33F4F41On What States Do Prices Depend? Answers from Ecuador
https://www.bankofcanada.ca/2016/09/staff-working-paper-2016-43/
In this paper, we argue that differences in the cost structures across sectors play an important role in firms’ decisions to adjust their prices. We develop a menu-cost model of pricing in which retail firms intermediate trade between producers and consumers.2016-09-22T15:13:55+00:00enOn What States Do Prices Depend? Answers from Ecuador2016-09-22Inflation and pricesMonetary policy transmissionStaff Working Paper 2016-43https://www.bankofcanada.ca/wp-content/uploads/2016/09/swp2016-43.pdfOn What States Do Prices Depend? Answers from EcuadorCraig BenedictMario J. CruciniAnthony LandrySeptember 2016EE3E5FF3F33The Role of the International Monetary Fund in the Post-Crisis World
https://www.bankofcanada.ca/2016/02/staff-discussion-paper-2016-6/
The International Monetary Fund (IMF, or the Fund) has undergone a number of significant policy changes and reforms in the wake of the global financial crisis. Most notably, in December 2015, the United States approved long-delayed legislation to increase the representation of developing countries in the Fund’s governance structure.2016-02-16T09:05:23+00:00enThe Role of the International Monetary Fund in the Post-Crisis World2016-02-16International topicsStaff Discussion Paper 2016-6https://www.bankofcanada.ca/wp-content/uploads/2016/02/sdp2016-6.pdfThe Role of the International Monetary Fund in the Post-Crisis WorldMark KrugerRobert LavigneJulie McKayFebruary 2016FF3F33The Impact of U.S. Monetary Policy Normalization on Capital Flows to Emerging-Market Economies
https://www.bankofcanada.ca/2014/12/working-paper-2014-53/
The Federal Reserve’s path for withdrawal of monetary stimulus and eventually increasing interest rates could have substantial repercussions for capital flows to emerging-market economies (EMEs).2014-12-04T08:03:57+00:00enThe Impact of U.S. Monetary Policy Normalization on Capital Flows to Emerging-Market Economies2014-12-04International topicsMonetary policy transmissionWorking Paper 2014-53https://www.bankofcanada.ca/wp-content/uploads/2014/12/wp2014-53.pdfThe Impact of U.S. Monetary Policy Normalization on Capital Flows to Emerging-Market EconomiesTatjana DahlhausGarima VasishthaDecember 2014CC3C32EE5E52FF3F33F4F42Strengthening IMF Surveillance: An Assessment of Recent Reforms
https://www.bankofcanada.ca/2009/07/discussion-paper-2009-10/
The authors assess the potential impact of recently approved reforms to International Monetary Fund (IMF) surveillance; namely, the "2007 Decision on Bilateral Surveillance Over Members' Policies" and the "Statement of Surveillance Priorities" (SSP). They conclude that these complementary reforms have the potential to create a comprehensive and coherent framework for IMF surveillance. If implemented properly, […]2009-07-01T10:11:20+00:00enStrengthening IMF Surveillance: An Assessment of Recent Reforms2009-07-01International topicsDiscussion Paper 2009-10https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp09-10.pdfStrengthening IMF Surveillance: An Assessment of Recent ReformsRobert LavigneLawrence L. SchembriJuly 2009FF3F33Assessing the Implementation of the IMF's 2007 Surveillance Decision
https://www.bankofcanada.ca/2009/02/discussion-paper-2009-6/
The International Monetary Fund (IMF) recently adopted the "2007 Decision on Bilateral Surveillance Over Members' Policies," a landmark reform that modernizes the general principles of IMF surveillance. However, support for the reform was not unanimous, and doubts have been expressed about how the Decision would be applied in practice. The authors assess the first year […]2009-02-27T20:00:00+00:00enAssessing the Implementation of the IMF's 2007 Surveillance Decision2009-02-27International topicsDiscussion Paper 2009-6https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp09-6.pdfAssessing the Implementation of the IMF’s 2007 Surveillance DecisionRobert LavigneGarima VasishthaFebruary 2009FF3F33Policy Coordination in an International Payment System
https://www.bankofcanada.ca/2008/05/working-paper-2008-17/
Given the increasing interdependence of both financial systems and attendant payment and settlement systems a vital question is what form should optimal policy take when there are two connected payment systems with separate regulators.2008-05-28T16:09:50+00:00enPolicy Coordination in an International Payment System2008-05-28Exchange rate regimesPayment clearing and settlement systemsWorking Paper 2008-17 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-17.pdfPolicy Coordination in an International Payment SystemJames ChapmanMay 2008EE4E42E5E58FF3F31F33China's Exchange Rate Policy: A Survey of the Literature
https://www.bankofcanada.ca/2008/03/discussion-paper-2008-5/
China's integration into the world economy has benefited its people by reducing poverty and raising living standards, and it has benefited the industrialized world by producing manufactured goods at lower cost. It has also raised geopolitical concerns as China's power grows, economic concerns as the manufacturing base in many industrialized countries erodes, and polemics as proposals of protectionist measures to counter China's export growth are put forward.2008-03-21T13:28:16+00:00enChina's Exchange Rate Policy: A Survey of the Literature2008-03-21Exchange rate regimesDiscussion Paper 2008-5https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-5.pdfChina’s Exchange Rate Policy: A Survey of the LiteratureRobert LafranceMarch 2008FF3F33F36