E - Macroeconomics and Monetary Economics - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T00:39:03+00:00Policy 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 2008EE4E42E5E58FF3F31F33The Effects of a Disruption in CDSX Settlement on Activity in the LVTS: A Simulation Study
https://www.bankofcanada.ca/2008/05/discussion-paper-2008-7/
The Large Value Transfer System (LVTS) for settling large payments, and CDSX for settling debt and equity trades, are two of the main settlement systems in Canada. They are closely linked; for example, at the end of the day the final CDSX payment obligations must settle on the Bank of Canada's books, with payments made […]2008-05-21T14:26:54+00:00enThe Effects of a Disruption in CDSX Settlement on Activity in the LVTS: A Simulation Study2008-05-21Financial stabilityPayment clearing and settlement systemsDiscussion Paper 2008-7https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-7.pdfThe Effects of a Disruption in CDSX Settlement on Activity in the LVTS: A Simulation StudyLana EmbreeKirby MillarMay 2008EE5E58GG2G21Price Level versus Inflation Targeting under Model Uncertainty
https://www.bankofcanada.ca/2008/05/working-paper-2008-15/
The purpose of this paper is to make a quantitative contribution to the inflation versus price level targeting debate. It considers a policy-maker that can set policy either through an inflation targeting rule or a price level targeting rule to minimize a quadratic loss function using the actual projection model of the Bank of Canada (ToTEM).2008-05-18T15:04:08+00:00enPrice Level versus Inflation Targeting under Model Uncertainty2008-05-18Monetary policy and uncertaintyWorking Paper 2008-15 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-15.pdfPrice Level versus Inflation Targeting under Model UncertaintyGino CateauMay 2008DD8D81EE5E58Driving Forces of the Canadian Economy: An Accounting Exercise
https://www.bankofcanada.ca/2008/05/working-paper-2008-14/
This paper analyses the Canadian economy for the post 1960 period. It uses an accounting procedure developed in Chari, Kehoe, and McGrattan (2006). The procedure identifies accounting factors that help align the predictions of the neoclassical growth model with macroeconomic variables observed in the data.2008-05-12T12:23:45+00:00enDriving Forces of the Canadian Economy: An Accounting Exercise2008-05-12Labour marketsPotential outputProductivityWorking Paper 2008-14 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-14.pdfDriving Forces of the Canadian Economy: An Accounting ExerciseSimona CociubaAlexander UeberfeldtMay 2008EE2E24E6E65OO4O41O5O51Uncertainty, Inflation, and Welfare
https://www.bankofcanada.ca/2008/05/working-paper-2008-13/
This paper studies the welfare costs and the redistributive effects of inflation in the presence of idiosyncratic liquidity risk, in a micro-founded search-theoretical monetary model. We calibrate the model to match the empirical aggregate money demand and the distribution of money holdings across households, and study the effects of inflation under the implied degree of market incompleteness.2008-05-08T12:19:21+00:00enUncertainty, Inflation, and Welfare2008-05-08Inflation: costs and benefitsMonetary policy frameworkWorking Paper 2008-13 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-13.pdfUncertainty, Inflation, and WelfareJonathan ChiuMiguel MolicoMay 2008EE4E40E5E50A Model of Tiered Settlement Networks
https://www.bankofcanada.ca/2008/05/working-paper-2008-12/
This paper develops a model of settlement system to study the endogenous structure of settlement networks, and the welfare consequences of clearing agent failure. The equilibrium degree of tiering is endogenously determined by the cost structure and the information structure.2008-05-04T12:14:42+00:00enA Model of Tiered Settlement Networks2008-05-04Payment clearing and settlement systemsWorking Paper 2008-12 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-12.pdfA Model of Tiered Settlement NetworksJames ChapmanJonathan ChiuMiguel MolicoMay 2008EE4E42E5E58GG2G21