F5 - International Relations and International Political Economy - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T00:56:34+00:00International Economic Sanctions and Third-Country Effects
https://www.bankofcanada.ca/2023/08/staff-working-paper-2023-46/
We study the transmission and third-country effects of international sanctions. A sanctioned country’s losses are mitigated, and the sanctioning country’s losses amplified, if a third country does not join the sanctions, but the third country benefits from not joining.2023-08-23T14:39:57+00:00enInternational Economic Sanctions and Third-Country Effects2023-08-23Economic modelsExchange ratesInternational topicsStaff Working Paper 2023-46https://www.bankofcanada.ca/wp-content/uploads/2023/08/swp2023-46.pdfStaff Working Paper 2023-46Fabio GhironiDaisoon KimGalip Kemal OzhanAugust 2023FF3F31F4F41F42F5F51CBDC and Monetary Sovereignty
https://www.bankofcanada.ca/2020/02/staff-analytical-note-2020-5/
In an increasingly digitalized world, issuers of private digital currency can weaken central banks’ ability to stabilize the economy. By continuing to make central bank money attractive as a payment instrument in a digital world, a central bank digital currency (CDBC) could help to maintain a country’s monetary sovereignty.2020-02-25T06:01:31+00:00enCBDC and Monetary Sovereignty2020-02-25Changing Fortunes: Long-Termism—G-Zero, Artificial Intelligence and Debt
https://www.bankofcanada.ca/2019/12/staff-discussion-paper-2019-12/
This paper discusses three long-term forces that are acting on the global economy and their implications for companies and policy-makers.2019-12-11T10:17:23+00:00enChanging Fortunes: Long-Termism—G-Zero, Artificial Intelligence and Debt2019-12-11Financial stabilityInternational topicsMonetary policyMonetary policy and uncertaintyTrade integrationStaff Discussion Paper 2019-12https://www.bankofcanada.ca/wp-content/uploads/2019/12/sdp2019-12.pdfChanging Fortunes: Long-Termism—G-Zero, Artificial Intelligence and DebtStephen S. PolozDecember 2019EE6E63FF0F02F1F15F5F53F6HOO1O11O3O33The Impact of a Trade War: Assessment of the Current Tariffs and Alternative Scenarios
https://www.bankofcanada.ca/2019/07/staff-analytical-note-2019-20/
This note uses Charbonneau and Landry’s (2018) framework to assess the direct impact of the current trade tensions on the Canadian and global economies, as well as possible implications if the conflict escalates further. Overall, my findings show that the estimated impact of current tariffs on real gross domestic product (GDP) remains relatively small, which is in line with the literature on gains from trade, but the impact on trade is much larger.2019-07-03T11:49:49+00:00enThe Impact of a Trade War: Assessment of the Current Tariffs and Alternative Scenarios2019-07-03The Trade War in Numbers
https://www.bankofcanada.ca/2018/11/staff-working-paper-2018-57/
We build upon new developments in the international trade literature to isolate and quantify the long-run economic impacts of tariff changes on the United States and the global economy.2018-11-28T14:26:20+00:00enThe Trade War in Numbers2018-11-28Recent economic and financial developmentsTrade integrationStaff Working Paper 2018-57https://www.bankofcanada.ca/wp-content/uploads/2018/11/swp2018-57.pdfThe Trade War in NumbersKaryne B. CharbonneauAnthony LandryNovember 2018FF1F11F13F14F15F5F50F6F62F68Estimating the Impacts of Tariff Changes: Two Illustrative Scenarios
https://www.bankofcanada.ca/2018/09/staff-analytical-note-2018-29/
We build upon new developments in the international trade literature to construct a quantitative Ricardian framework similar to Caliendo and Parro (2015) to isolate and estimate the long-run economic impacts of tariff changes.2018-09-05T14:41:24+00:00enEstimating the Impacts of Tariff Changes: Two Illustrative Scenarios2018-09-05Policy Rules for Capital Controls
https://www.bankofcanada.ca/2017/10/staff-working-paper-2017-42/
This paper attempts to borrow the tradition of estimating policy reaction functions in monetary policy literature and apply it to capital controls policy literature. Using a novel weekly dataset on capital controls policy actions in 21 emerging economies over the period 1 January 2001 to 31 December 2015, I examine the mercantilist and macroprudential motivations for capital control policies.2017-10-05T08:53:59+00:00enPolicy Rules for Capital Controls2017-10-05Exchange rate regimesFinancial stabilityFinancial system regulation and policiesInternational topicsStaff Working Paper 2017-42https://www.bankofcanada.ca/wp-content/uploads/2017/10/swp2017-42.pdfPolicy Rules for Capital ControlsGurnain PasrichaOctober 2017FF3F4F5GG0G1Capital Flows and Macroprudential Policies - A Multilateral Assessment of Effectiveness and Externalities
https://www.bankofcanada.ca/2014/07/working-paper-2014-31/
This paper assesses the effectiveness and associated externalities that arise when macroprudential policies (MPPs) are used to manage international capital flows. Using a sample of up to 139 countries, we examine the impact of eight different MPP measures on cross-border bank flows over the period 1999-2009.2014-07-17T07:53:55+00:00enCapital Flows and Macroprudential Policies - A Multilateral Assessment of Effectiveness and Externalities2014-07-17Balance of payments and componentsFinancial marketsInternational topicsWorking Paper 2014-31https://www.bankofcanada.ca/wp-content/uploads/2014/07/wp2014-31.pdfCapital Flows and Macroprudential Policies - A Multilateral Assessment of Effectiveness and ExternalitiesJohn BeirneChristian FriedrichJuly 2014FF3F5GG0G01G1G11The G-20 Framework for Strong, Sustainable and Balanced Growth: Macroeconomic Coordination Since the Crisis
https://www.bankofcanada.ca/wp-content/uploads/2013/02/boc-review-winter-12-13-lavigne.pdf
Since 2009, the G-20 Framework for Strong, Sustainable and Balanced Growth has provided a mechanism for international macroeconomic policy coordination. The Framework has had some successes, including agreement on objectives for fiscal consolidation. However, post-crisis global growth has been neither strong nor balanced. Progress has also been slow in developing credible fiscal consolidation plans in some advanced countries and in increasing exchange rate flexibility in certain emerging economies. A stronger peer review process and enhanced analysis of international spillovers would increase the Framework’s influence on member policies.2013-02-21T10:32:15+00:00enThe G-20 Framework for Strong, Sustainable and Balanced Growth: Macroeconomic Coordination Since the Crisis2013-02-21Canada and the IMF: Trailblazer or Prodigal Son?
https://www.bankofcanada.ca/2009/01/discussion-paper-2009-1/
Canada played an important role in the postwar establishment of the International Monetary Fund (IMF), yet it was also the first major member to challenge the orthodoxy of the BrettonWoods par value system by abandoning it in 1950 in favour of a floating, market-determined exchange rate.2009-01-29T10:11:19+00:00enCanada and the IMF: Trailblazer or Prodigal Son?2009-01-29Exchange rate regimesExchange ratesMonetary policy frameworkDiscussion Paper 2009-1https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp09-1.pdfCanada and the IMF: Trailblazer or Prodigal Son?Michael BordoLawrence L. SchembriTamara GomesJanuary 2009EE5E52E58FF4F41F5F55NN7N72