Find Bank of Canada research by keyword, author, content type, JEL code, topic or date of publication.
Receive notification by email whenever new research is added to the website.
370
result(s)
The Role of Bank Capital in the Propagation of Shocks
Staff Working Paper 2008-36
Césaire Meh,
Kevin Moran
Recent events in financial markets have underlined the importance of analyzing the link between the financial health of banks and real economic activity. This paper contributes to this analysis by constructing a dynamic general equilibrium model in which the balance sheet of banks affects the propagation of shocks.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Financial institutions,
Financial system regulation and policies,
Monetary policy transmission
JEL Code(s):
E,
E4,
E44,
E5,
E52,
G,
G2,
G21
Aggregate and Welfare Effects of Redistribution of Wealth Under Inflation and Price-Level Targeting
Staff Working Paper 2008-31
Césaire Meh,
José-Víctor Ríos-Rull,
Yaz Terajima
Since the work of Doepke and Schneider (2006a) and Meh and Terajima (2008), we know that inflation causes major redistribution of wealth – between households and the government, between nationals and foreigners, and between households within the same country.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Inflation and prices,
Inflation targets,
Inflation: costs and benefits,
Monetary policy framework,
Sectoral balance sheet
JEL Code(s):
D,
D3,
D31,
E,
E2,
E21,
E3,
E31,
E4,
E44,
E5,
E52,
E6,
E63
The Welfare Implications of Fiscal Dominance
Staff Working Paper 2008-28
Carlos De Resende,
Nooman Rebei
This paper studies the interdependence between fiscal and monetary policy in a DSGE model with sticky prices and non-zero trend inflation. We characterize the fiscal and monetary policies by a rule whereby a given fraction k of the government debt must be backed by the discounted value of current and future primary surpluses.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Fiscal policy,
Inflation: costs and benefits,
Monetary policy framework
JEL Code(s):
E,
E3,
E31,
E4,
E42,
E5,
E50,
E6,
E63
Are Bygones not Bygones? Modeling Price Level Targeting with an Escape Clause and Lessons from the Gold Standard
Staff Working Paper 2008-27
Paul Masson,
Malik Shukayev
Like the gold standard, price level targeting (PT) involves not letting past deviations of inflation be bygones; both regimes return the price level (or price of gold) to its target. The experience of suspension of the gold standard in World War I, resumption in the 1920s (for some countries at a different parity), and final abandonment is reviewed.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Credibility,
Monetary policy framework
JEL Code(s):
E,
E3,
E31,
E5,
E52
Price-Level versus Inflation Targeting with Financial Market Imperfections
Staff Working Paper 2008-26
Francisco Covas,
Yahong Zhang
This paper compares price-level-path targeting (PT) with inflation targeting (IT) in a sticky-price, dynamic, general equilibrium model augmented with imperfections in both the debt and equity markets.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Inflation targets,
Monetary policy framework
JEL Code(s):
E,
E4,
E40,
E5,
E50
Do Central Banks Respond to Exchange Rate Movements? Some New Evidence from Structural Estimation
Staff Working Paper 2008-24
Wei Dong
This paper investigates the impact of exchange rate movements on the conduct of monetary policy in Australia, Canada, New Zealand and the United Kingdom. We develop and estimate a structural general equilibrium two-sector model with sticky prices and wages and limited exchange rate pass-through.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
International topics,
Monetary policy framework
JEL Code(s):
F,
F3,
F4
The Implementation of Monetary Policy in Canada
Staff Discussion Paper 2008-9
Walter Engert,
Toni Gravelle,
Donna Howard
The authors present a detailed discussion of the Bank of Canada's framework for the implementation of monetary policy. As background, they provide a brief overview of the financial system in Canada, including a discussion of the financial services industry and the money market.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial institutions,
Financial markets,
Monetary policy implementation,
Payment clearing and settlement systems
JEL Code(s):
E,
E5,
E52,
E58,
G,
G2,
G21
Inflation, Nominal Portfolios, and Wealth Redistribution in Canada
Staff Working Paper 2008-19
Césaire Meh,
Yaz Terajima
There is currently a policy debate on potential refinements to monetary policy regimes in countries with low and stable inflation such as the U.S. and Canada. For example, in Canada, a systematic review of the current inflation targeting framework is underway.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Inflation targets,
Inflation: costs and benefits,
Monetary policy framework,
Sectoral balance sheet
JEL Code(s):
D,
D3,
D31,
D5,
D58,
E,
E3,
E31,
E5,
E50
June 16, 2008
A Money and Credit Real-Time Database for Canada
Bank of Canada Review - Summer 2008
Roobina Keshishbanoosy,
Pierre St-Amant,
Devin Ball,
Ivan Medovikov
Model-based forecasts of important economic variables are part of the range of information considered for monetary policy decision making.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Credit and credit aggregates,
Monetary aggregates,
Monetary policy and uncertainty