E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T11:21:55+00:00The 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 2008EE3E31E4E42E5E50E6E63Policy 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 2008EE4E42E5E58FF3F31F33A 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