E4 - Money and Interest Rates - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T00:24:06+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 2008EE4E40E5E50McCallum 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 2008EE4E43FF3F31GG1G12G15The Role of Bank Capital in the Propagation of Shocks
https://www.bankofcanada.ca/2008/10/working-paper-2008-36/
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.2008-10-02T14:41:35+00:00enThe Role of Bank Capital in the Propagation of Shocks2008-10-02Economic modelsFinancial institutionsFinancial system regulation and policiesMonetary policy transmissionWorking Paper 2008-36 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-36.pdfThe Role of Bank Capital in the Propagation of ShocksCésaire MehKevin MoranOctober 2008EE4E44E5E52GG2G21Globalization and Inflation: The Role of China
https://www.bankofcanada.ca/2008/10/working-paper-2008-35/
In this paper, we develop a theoretical model which identifies four channels–import prices, competition with domestic suppliers and workers, and commodity prices–through which price- and wage-setting conditions in country j may affect inflation in country i.2008-10-01T14:34:31+00:00enGlobalization and Inflation: The Role of China2008-10-01International topicsWorking Paper 2008-35 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-35.pdfGlobalization and Inflation: The Role of ChinaDenise CôtéCarlos De ResendeOctober 2008EE2E22E3E32E4E44Combining Canadian Interest-Rate Forecasts
https://www.bankofcanada.ca/2008/09/working-paper-2008-34/
Model risk is a constant danger for financial economists using interest-rate forecasts for the purposes of monetary policy analysis, portfolio allocations, or risk-management decisions. Use of multiple models does not necessarily solve the problem as it greatly increases the work required and still leaves the question "which model forecast should one use?"2008-09-28T13:07:30+00:00enCombining Canadian Interest-Rate Forecasts2008-09-28Econometric and statistical methodsInterest ratesWorking Paper 2008-34 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-34.pdfCombining Canadian Interest-Rate ForecastsDavid BolderYuliya RomanyukSeptember 2008CC1C11EE4E43E47Aggregate and Welfare Effects of Redistribution of Wealth Under Inflation and Price-Level Targeting
https://www.bankofcanada.ca/2008/09/working-paper-2008-31/
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.2008-09-12T12:16:07+00:00enAggregate and Welfare Effects of Redistribution of Wealth Under Inflation and Price-Level Targeting2008-09-12Economic modelsInflation and pricesInflation targetsInflation: costs and benefitsMonetary policy frameworkSectoral balance sheetWorking Paper 2008-31https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-31.pdfAggregate and Welfare Effects of Redistribution of Wealth Under Inflation and Price-Level TargetingCésaire MehJosé-Víctor Ríos-RullYaz TerajimaSeptember 2008DD3D31EE2E21E3E31E4E44E5E52E6E63Macroeconomic Determinants of the Term Structure of Corporate Spreads
https://www.bankofcanada.ca/2008/09/working-paper-2008-29/
We investigate the macroeconomic determinants of corporate spreads using a no-arbitrage technique. Structural shocks are identified by a New-Keynesian model. Treasury bonds are priced in an affine model with time-varying risk premia.2008-09-04T11:14:55+00:00enMacroeconomic Determinants of the Term Structure of Corporate Spreads2008-09-04Debt managementFinancial marketsInterest ratesWorking Paper 2008-29 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-29.pdfMacroeconomic Determinants of the Term Structure of Corporate SpreadsJun YangSeptember 2008EE4E43E44GG1G12The Welfare Implications of Fiscal Dominance
https://www.bankofcanada.ca/2008/09/working-paper-2008-28/
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.2008-09-02T11:08:46+00:00enThe Welfare Implications of Fiscal Dominance2008-09-02Economic modelsFiscal policyInflation: costs and benefitsMonetary policy frameworkWorking Paper 2008-28 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-28.pdfThe Welfare Implications of Fiscal DominanceCarlos De ResendeNooman RebeiSeptember 2008EE3E31E4E42E5E50E6E63Merchant Acceptance, Costs, and Perceptions of Retail Payments: A Canadian Survey
https://www.bankofcanada.ca/2008/08/discussion-paper-2008-12/
Using the results of a survey on accepted means of payment, the authors examine merchant preferences and perceptions of retail payment reliability, risk, and costs; the share of each type of payment method over total sales; and the costs involved in accepting payments.2008-08-25T14:09:32+00:00enMerchant Acceptance, Costs, and Perceptions of Retail Payments: A Canadian Survey2008-08-25Bank notesDiscussion Paper 2008-12https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-12.pdfMerchant Acceptance, Costs, and Perceptions of Retail Payments: A Canadian SurveyCarlos ArangoVarya TaylorAugust 2008EE4E41LL2Price-Level versus Inflation Targeting with Financial Market Imperfections
https://www.bankofcanada.ca/2008/08/working-paper-2008-26/
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.2008-08-18T10:50:59+00:00enPrice-Level versus Inflation Targeting with Financial Market Imperfections2008-08-18Economic modelsInflation targetsMonetary policy frameworkWorking Paper 2008-26 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-26.pdfPrice-Level versus Inflation Targeting with Financial Market ImperfectionsFrancisco CovasYahong ZhangAugust 2008EE4E40E5E50