Research - Bank of Canada
https://www.bankofcanada.ca/rss-feeds/
Bank of Canada RSS Feedsen2024-03-28T13:14:40+00:00Financial Intermediation, Liquidity and Inflation
https://www.bankofcanada.ca/2008/12/working-paper-2008-49/
This paper develops a search-theoretic model to study the interaction between banking and monetary policy and how this interaction affects the allocation and welfare. Regarding how banking affects the welfare costs of inflation: First, we find that, with banking, inflation generates smaller welfare costs.2008-12-28T10:30:11+00:00enFinancial Intermediation, Liquidity and Inflation2008-12-28Monetary policy frameworkWorking Paper 2008-49 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-49.pdfFinancial Intermediation, Liquidity and InflationJonathan ChiuCésaire MehDecember 2008EE4E40E5E50India and the Global Demand for Commodities: Is There an Elephant in the Room?
https://www.bankofcanada.ca/2008/12/discussion-paper-2008-18/
After 10 years of impressive growth, India is now the fourth largest economy in the world. Yet, to date, India's impact on global commodity markets has been muted. The authors examine how India's domestic and trade policies have distorted and constrained its demand for commodities.2008-12-25T15:42:42+00:00enIndia and the Global Demand for Commodities: Is There an Elephant in the Room?2008-12-25Development economicsInternational topicsDiscussion Paper 2008-18https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-18.pdfIndia and the Global Demand for Commodities: Is There an Elephant in the Room?Michael FrancisCorinne LuuDecember 2008FF1F14OO1O13O5O53Futures Markets, Oil Prices and the Intertemporal Approach to the Current Account
https://www.bankofcanada.ca/2008/12/working-paper-2008-48/
The intertemporal approach to the current account suggests modeling movements in the current account in a forward-looking, dynamic framework. In this framework, the current account reflects consumption smoothing of agents that lend and borrow from the rest of the world in the face of transitory shocks to income.2008-12-18T10:26:11+00:00enFutures Markets, Oil Prices and the Intertemporal Approach to the Current Account2008-12-18Balance of payments and componentsWorking Paper 2008-48 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-48.pdfFutures Markets, Oil Prices and the Intertemporal Approach to the Current AccountElif ArbatliDecember 2008CC2C22FF2F21F3F32GG1G13How Important Is Liquidity Risk for Sovereign Bond Risk Premia? Evidence from the London Stock Exchange
https://www.bankofcanada.ca/2008/12/working-paper-2008-47/
This paper uses the framework of arbitrage-pricing theory to study the relationship between liquidity risk and sovereign bond risk premia. The London Stock Exchange in the late 19th century is an ideal laboratory in which to test the proposition that liquidity risk affects the price of sovereign debt.2008-12-08T10:20:50+00:00enHow Important Is Liquidity Risk for Sovereign Bond Risk Premia? Evidence from the London Stock Exchange2008-12-08Financial marketsInternational topicsWorking Paper 2008-47 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-47.pdfHow Important Is Liquidity Risk for Sovereign Bond Risk Premia? Evidence from the London Stock ExchangeRon AlquistDecember 2008FF2F21F3F34F36GG1G12G15Indebtedness and the Household Financial Health: An Examination of the Canadian Debt Service Ratio Distribution
https://www.bankofcanada.ca/2008/12/working-paper-2008-46/
The household debt-to-disposable income ratio in Canada increased from 110 per cent in 1999 to 127 per cent in 2007. This increase has raised questions about the ability of households to service their increased debt if faced with a negative economic or socio-economic shock.2008-12-02T10:15:42+00:00enIndebtedness and the Household Financial Health: An Examination of the Canadian Debt Service Ratio Distribution2008-12-02Financial stabilityMonetary and financial indicatorsWorking Paper 2008-46 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-46.pdfIndebtedness and the Household Financial Health: An Examination of the Canadian Debt Service Ratio DistributionUmar FaruquiDecember 2008DD1D11D14D3D39A Survey and Risk Analysis of Selected Non-Bank Retail Payments Systems
https://www.bankofcanada.ca/2008/11/discussion-paper-2008-17/
Payment services offered by non-banks have flourished in recent years. The author provides an overview of the different kinds of non-bank retail payments schemes currently available in Canada, illustrating each by focusing on a specific example.2008-11-25T15:21:29+00:00enA Survey and Risk Analysis of Selected Non-Bank Retail Payments Systems2008-11-25Financial servicesPayment clearing and settlement systemsDiscussion Paper 2008-17https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-17.pdfA Survey and Risk Analysis of Selected Non-Bank Retail Payments SystemsNikil ChandeNovember 2008DD1D14GG2G20Firm Size and Productivity
https://www.bankofcanada.ca/2008/11/working-paper-2008-45/
This paper examines the relationship between firm size and productivity. In contrast to previous studies, this paper offers evidence of the relationship not only from manufacturing firms, but from non-manufacturing firms as well.2008-11-18T09:48:46+00:00enFirm Size and Productivity2008-11-18ProductivityWorking Paper 2008-45 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-45.pdfFirm Size and ProductivityDanny LeungCésaire MehYaz TerajimaNovember 2008LL1L11L2L25OO4O47The Role of Foreign Exchange Dealers in Providing Overnight Liquidity
https://www.bankofcanada.ca/2008/11/working-paper-2008-44/
This paper illustrates that dealers in foreign exchange markets not only provide intraday liquidity, they are key participants in the provision of overnight liquidity. Dealing institutions receive compensation for holding undesired inventory balances in part from the information they receive in customer trades.2008-11-08T16:37:16+00:00enThe Role of Foreign Exchange Dealers in Providing Overnight Liquidity2008-11-08Exchange ratesFinancial marketsMarket structure and pricingWorking Paper 2008-44 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-44.pdfThe Role of Foreign Exchange Dealers in Providing Overnight LiquidityChris D'SouzaNovember 2008DD8D82FF3F31GG2G21McCallum Rules, Exchange Rates, and the Term Structure of Interest Rates
https://www.bankofcanada.ca/2008/10/working-paper-2008-43/
McCallum (1994a) proposes a monetary rule where policymakers have some tendency to resist rapid changes in exchange rates to explain the forward premium puzzle.2008-10-28T16:20:31+00:00enMcCallum Rules, Exchange Rates, and the Term Structure of Interest Rates2008-10-28Exchange ratesInterest ratesMonetary policy transmissionWorking Paper 2008-43 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-43.pdfMcCallum Rules, Exchange Rates, and the Term Structure of Interest RatesAntonio Diez de los RiosOctober 2008EE4E43FF3F31GG1G12G15Which Bank is the "Central" Bank? An Application of Markov Theory to the Canadian Large Value Transfer System
https://www.bankofcanada.ca/2008/10/working-paper-2008-42/
We use a method similar to Google's PageRank procedure to rank banks in the Canadian Large Value Transfer System (LVTS). Along the way we obtain estimates of the payment processing speeds for the individual banks.2008-10-26T16:11:24+00:00enWhich Bank is the "Central" Bank? An Application of Markov Theory to the Canadian Large Value Transfer System2008-10-26Payment clearing and settlement systemsWorking Paper 2008-42 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-42.pdfWhich Bank is the "Central" Bank? An Application of Markov Theory to the Canadian Large Value Transfer SystemMorten BechJames ChapmanRodney J. GarrattOctober 2008CC1C11EE5E50GG2G20