E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T12:23:20+00:00Assessing Financial System Vulnerabilities: An Early Warning Approach
https://www.bankofcanada.ca/wp-content/uploads/2013/11/boc-review-autumn13-pasricha.pdf
This article focuses on a quantitative method to identify financial system vulnerabilities, specifically, an imbalance indicator model (IIM) and its application to Canada. An IIM identifies potential vulnerabilities in a financial system by comparing current economic and financial data with data from periods leading up to past episodes of financial stress. It complements other sources of information - including market intelligence and regular monitoring of the economy - that policy-makers use to assess vulnerabilities.2013-11-14T08:09:13+00:00enAssessing Financial System Vulnerabilities: An Early Warning Approach2013-11-14Housing and Tax Policy
https://www.bankofcanada.ca/2013/09/working-paper-2013-33/
In this paper, we investigate the effects of housing-related tax policy measures on macroeconomic aggregates using a dynamic general-equilibrium model.2013-09-06T09:09:34+00:00enHousing and Tax Policy2013-09-06Economic modelsFiscal policyHousingWorking Paper 2013-33https://www.bankofcanada.ca/wp-content/uploads/2013/09/wp2013-33.pdfHousing and Tax PolicySami AlpandaSarah ZubairySeptember 2013EE6E62HH2H24RR3R38Analyzing Fiscal Sustainability
https://www.bankofcanada.ca/2013/08/working-paper-2013-27/
The authors study the implications of fiscal policy behaviour for sovereign risk in a framework that determines a country’s fiscal limit, the point at which, for economic or political reasons, taxes and spending can no longer adjust to stabilize debt.2013-08-20T09:05:35+00:00enAnalyzing Fiscal Sustainability2013-08-20Economic modelsFiscal policyWorking Paper 2013-27https://www.bankofcanada.ca/wp-content/uploads/2013/08/wp2013-27.pdfAnalyzing Fiscal SustainabilityHuixin BiEric M. LeeperAugust 2013EE6E62E65HH6H63Uncertain Fiscal Consolidations
https://www.bankofcanada.ca/2013/08/working-paper-2013-26/
The paper explores the macroeconomic consequences of fiscal consolidations whose timing and composition - either tax- or spending-based - are uncertain.2013-08-15T12:18:55+00:00enUncertain Fiscal Consolidations2013-08-15Economic modelsFiscal policyMonetary policy and uncertaintyWorking Paper 2013-26https://www.bankofcanada.ca/wp-content/uploads/2013/08/wp2013-26.pdfUncertain Fiscal ConsolidationsHuixin BiEric M. LeeperCampbell LeithAugust 2013EE6E62E63HH3H30H6H60Unconventional Monetary Policies: Evolving Practices, Their Effects and Potential Costs
https://www.bankofcanada.ca/wp-content/uploads/2013/05/boc-review-spring13-santor.pdf
Following the recent financial crisis, major central banks have introduced several types of unconventional monetary policy measures, including liquidity and credit facilities, asset purchases and forward guidance. To date, these measures appear to have been successful. They restored market functioning, facilitated the transmission of monetary policy and supported economic activity. They have potential costs, however, including challenges related to the greatly expanded balance sheets of central banks and the eventual exit from these measures, as well as the vulnerabilities that can arise from prolonged monetary accommodation.2013-05-16T07:38:27+00:00enUnconventional Monetary Policies: Evolving Practices, Their Effects and Potential Costs2013-05-16The G-20 Framework for Strong, Sustainable and Balanced Growth: Macroeconomic Coordination Since the Crisis
https://www.bankofcanada.ca/wp-content/uploads/2013/02/boc-review-winter-12-13-lavigne.pdf
Since 2009, the G-20 Framework for Strong, Sustainable and Balanced Growth has provided a mechanism for international macroeconomic policy coordination. The Framework has had some successes, including agreement on objectives for fiscal consolidation. However, post-crisis global growth has been neither strong nor balanced. Progress has also been slow in developing credible fiscal consolidation plans in some advanced countries and in increasing exchange rate flexibility in certain emerging economies. A stronger peer review process and enhanced analysis of international spillovers would increase the Framework’s influence on member policies.2013-02-21T10:32:15+00:00enThe G-20 Framework for Strong, Sustainable and Balanced Growth: Macroeconomic Coordination Since the Crisis2013-02-21The U.S. Recovery from the Great Recession: A Story of Debt and Deleveraging
https://www.bankofcanada.ca/wp-content/uploads/2013/02/boc-review-winter-12-13-lavender.pdf
The U.S. recovery from the Great Recession has been slow relative to other postwar-era recoveries in the United States. Encouraged by loose lending standards in the pre-crisis period, U.S. households took on unsustainable amounts of debt, making them vulnerable to adverse shocks. Subsequently, a considerable drop in asset prices forced households to repair their balance sheets. While there has been progress in household deleveraging, the government sector now needs to delever, which will restrain growth over the next few years.2013-02-21T10:31:30+00:00enThe U.S. Recovery from the Great Recession: A Story of Debt and Deleveraging2013-02-21Financial Development and the Volatility of Income
https://www.bankofcanada.ca/2013/01/working-paper-2013-4/
This paper presents a general equilibrium model with endogenous collateral constraints to study the relationship between financial development and business cycle fluctuations in a cross-section of economies with different sizes of their financial sector.2013-01-30T10:48:33+00:00enFinancial Development and the Volatility of Income2013-01-30Credit and credit aggregatesFinancial stabilityWorking Paper 2013-4https://www.bankofcanada.ca/wp-content/uploads/2013/01/wp2013-04.pdfFinancial Development and the Volatility of IncomeTiago PinheiroFrancisco RivadeneyraMarc TeignierJanuary 2013EE3E32E6E60Real-financial Linkages through Loan Default and Bank Capital
https://www.bankofcanada.ca/2013/01/working-paper-2013-3/
Many studies in macroeconomics argue that financial frictions do not amplify the impacts of real shocks. This finding is based on models without endogenous default on loans and bank capital. Using a model featuring endogenous interactions between firm default and bank capital, this paper revisits the propagation mechanisms of real and financial shocks.2013-01-10T09:54:09+00:00enReal-financial Linkages through Loan Default and Bank Capital2013-01-10Financial institutionsFinancial stabilityFinancial system regulation and policiesInterest ratesWorking Paper 2013-3https://www.bankofcanada.ca/wp-content/uploads/2013/01/wp2013-03.pdfReal-financial Linkages through Loan Default and Bank CapitalTamon TakamuraJanuary 2013EE3E32E4E44E6E69