Research - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T22:39:57+00:00Expectations and Monetary Policy: Experimental Evidence
https://www.bankofcanada.ca/2013/11/working-paper-2013-44/
The effectiveness of monetary policy depends, to a large extent, on market expectations of its future actions. In a standard New Keynesian business-cycle model with rational expectations, systematic monetary policy reduces the variance of inflation and the output gap by at least two-thirds.2013-11-22T10:26:12+00:00enExpectations and Monetary Policy: Experimental Evidence2013-11-22Business fluctuations and cyclesMonetary policy implementationMonetary policy transmissionWorking Paper 2013-44https://www.bankofcanada.ca/wp-content/uploads/2013/11/wp2013-44.pdfExpectations and Monetary Policy: Experimental EvidenceOleksiy KryvtsovLuba PetersenNovember 2013CC9DD8D84EE3E5E52Perceived Inflation Persistence
https://www.bankofcanada.ca/2013/11/working-paper-2013-43/
The Survey of Professional Forecasters (SPF) has had vast influence on research related to better understanding expectation formation and the behaviour of macroeconomic agents. Inflation expectations, in particular, have received a great deal of attention, since they play a crucial role in determining real interest rates, the expectations-augmented Phillips curve and monetary policy.2013-11-22T10:25:24+00:00enPerceived Inflation Persistence2013-11-22Econometric and statistical methodsInflation and pricesWorking Paper 2013-43https://www.bankofcanada.ca/wp-content/uploads/2013/11/wp2013-43.pdfPerceived Inflation PersistenceMonica JainNovember 2013EE3E31E37High-Frequency Real Economic Activity Indicator for Canada
https://www.bankofcanada.ca/2013/11/working-paper-2013-42/
I construct a weekly measure of real economic activity in Canada. Based on the work of Aruoba et al. (2009), the indicator is extracted as an unobserved component underlying the co-movement of four monthly observed real macroeconomic variables - employment, manufacturing sales, retail sales and GDP.2013-11-22T08:43:13+00:00enHigh-Frequency Real Economic Activity Indicator for Canada2013-11-22Business fluctuations and cyclesEconometric and statistical methodsWorking Paper 2013-42https://www.bankofcanada.ca/wp-content/uploads/2013/11/wp2013-42.pdfHigh-Frequency Real Economic Activity Indicator for CanadaGitanjali KumarNovember 2013CC3C38EE3E32Sovereign Default and State-Contingent Debt
https://www.bankofcanada.ca/2013/11/discussion-paper-2013-3/
The Latin American debt crises in the 1980s and the Asian crisis in the late 1990s both provided impetus for reforming the framework for restructuring sovereign debt. In the late 1980s, the Brady plan established the importance of substantive debt relief in addressing some crises.2013-11-19T10:22:55+00:00enSovereign Default and State-Contingent Debt2013-11-19International financial marketsInternational topicsDiscussion Paper 2013-03https://www.bankofcanada.ca/wp-content/uploads/2013/11/dp2013-03.pdfSovereign Default and State-Contingent DebtMartin BrookeRhys R. MendesAlex PienkowskiEric SantorNovember 2013FF3F34Central Bank Communications Before, During and After the Crisis: From Open-Market Operations to Open-Mouth Policy
https://www.bankofcanada.ca/2013/11/working-paper-2013-41/
The days when secrecy and opacity were the bywords of central banking are gone. The advent of inflation targeting in the early 1990s acted as the catalyst for enhanced transparency and communications in the conduct of monetary policy.2013-11-18T11:20:03+00:00enCentral Bank Communications Before, During and After the Crisis: From Open-Market Operations to Open-Mouth Policy2013-11-18Central bank researchCredibilityFinancial stabilityInflation targetsMonetary policy frameworkMonetary policy implementationWorking Paper 2013-41https://www.bankofcanada.ca/wp-content/uploads/2013/11/wp2013-41.pdfCentral Bank Communications Before, During and After the Crisis: From Open-Market Operations to Open-Mouth PolicyIanthi VayidNovember 2013EE5E52E58Unemployment Fluctuations in a Small Open-Economy Model with Segmented Labour Markets: The Case of Canada
https://www.bankofcanada.ca/2013/11/working-paper-2013-40/
The recent financial crisis and subsequent recession have spurred great interest in the sources of unemployment fluctuations. Previous studies predominantly assume a single economy-wide labour market, and therefore abstract from differences across sectorspecific labour markets in the economy.2013-11-14T14:32:31+00:00enUnemployment Fluctuations in a Small Open-Economy Model with Segmented Labour Markets: The Case of Canada2013-11-14Business fluctuations and cyclesEconomic modelsLabour marketsWorking Paper 2013-40https://www.bankofcanada.ca/wp-content/uploads/2013/11/wp2013-40.pdfUnemployment Fluctuations in a Small Open-Economy Model with Segmented Labour Markets: The Case of CanadaYahong ZhangNovember 2013EE3E32E4E44JJ6The Financialization of Food?
https://www.bankofcanada.ca/2013/11/working-paper-2013-39/
Commodity-equity and cross-commodity return co-movements rose dramatically after the 2008 financial crisis. This development took place following what has been dubbed the “financialization” of commodity markets.2013-11-14T14:31:40+00:00enThe Financialization of Food?2013-11-14International topicsRecent economic and financial developmentsWorking Paper 2013-39https://www.bankofcanada.ca/wp-content/uploads/2013/11/wp2013-39.pdfThe Financialization of Food?Valentina G. BrunoBahattin BuyuksahinMichel A. RobeNovember 2013GG1G12G13QQ1Q11Q13Some Economics of Private Digital Currency
https://www.bankofcanada.ca/2013/11/working-paper-2013-38/
This paper reviews some recent developments in digital currency, focusing on platform-sponsored currencies such as Facebook Credits.2013-11-12T11:44:31+00:00enSome Economics of Private Digital Currency2013-11-12Bank notesDigital currencies and fintechEconomic modelsPayment clearing and settlement systemsWorking Paper 2013-38https://www.bankofcanada.ca/wp-content/uploads/2013/11/wp2013-38.pdfSome Economics of Private Digital CurrencyJoshua S. GansHanna HalaburdaNovember 2013DD4D42EE4LL5L51