Staff research, Publications

• A New Linear Estimator for Gaussian Dynamic Term Structure Models

  Staff Working Paper 2013-10 Antonio Diez de los Rios

  This paper proposes a novel regression-based approach to the estimation of Gaussian dynamic term structure models that avoids numerical optimization.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Asset pricing, Econometric and statistical methods, Interest rates JEL Code(s): C, C1, C13, E, E4, E43, G, G1, G12

• An Equilibrium Analysis of the Rise in House Prices and Mortgage Debt

  Staff Working Paper 2013-9 Shaofeng Xu

  This paper examines the contributions of population aging, mortgage innovation and historically low interest rates to the sharp rise in U.S. house prices and mortgage debt between 1994 and 2005.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Asset pricing, Credit and credit aggregates, Economic models JEL Code(s): E, E2, E21, E4, E44, G, G1, G11, R, R2, R21
• April 22, 2013

  Annual Report 2012

  

  2012 was a year of tentative recovery for the world economy, but considerable accomplishment for the Bank of Canada as it worked to promote the economic and financial well-being of Canadians. The 2012 Annual Report provides a Message from the Governor, highlights key achievements over the year, describes the Bank’s corporate governance, and presents financial statements in conjunction with Management’s Discussion and Analysis.

  Content Type(s): Publications, Annual Report
• April 19, 2013

  Weekly Financial Statistics - 19 April 2013

  Content Type(s): Publications, Historical: Weekly Financial Statistics
• April 17, 2013

  Monetary Policy Report – April 2013

  

  Following growth of 1.8 per cent in 2012, the Canadian economy is expected to grow by 1.5 per cent in 2013, 2.8 percent in 2014 and 2.7 in 2015, and to reach full capacity in mid-2015, later than anticipated in the January Report.

  Content Type(s): Publications, Monetary Policy Report
• April 12, 2013

  Weekly Financial Statistics - 12 April 2013

  Content Type(s): Publications, Historical: Weekly Financial Statistics

• Countercyclical Bank Capital Requirement and Optimized Monetary Policy Rules

  Staff Working Paper 2013-8 Carlos De Resende, Ali Dib, René Lalonde, Nikita Perevalov

  Using BoC-GEM-Fin, a large-scale DSGE model with real, nominal and financial frictions featuring a banking sector, we explore the macroeconomic implications of various types of countercyclical bank capital regulations. Results suggest that countercyclical capital requirements have a significant stabilizing effect on key macroeconomic variables, but mostly after financial shocks.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Financial institutions, Financial stability, International topics JEL Code(s): E, E3, E32, E4, E44, E5, G, G1, G2
• April 8, 2013

  Business Outlook Survey - Spring 2013

  Taken together, responses to the spring survey indicate that, following a recent slowing in economic activity, firms expect business conditions to remain challenging over the next 12 months.

  Content Type(s): Publications, Business Outlook Survey
• April 8, 2013

  Senior Loan Officer Survey - First-Quarter 2013

  The survey results point to a slight easing in overall business-lending conditions during the first quarter of 2013.

  Content Type(s): Publications, Senior Loan Officer Survey
• April 5, 2013

  Weekly Financial Statistics - 5 April 2013

  Content Type(s): Publications, Historical: Weekly Financial Statistics