International topics - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T02:24:33+00:00Why Do Canadian Firms Invest and Operate Abroad? Implications for Canadian Exports
https://www.bankofcanada.ca/2014/12/discussion-paper-2014-7/
Canadian foreign direct investment and sales of Canadian multinational firms’ operations abroad, particularly in the manufacturing industry and in the United States, have accelerated sharply over the past decade.2014-12-12T12:17:11+00:00enWhy Do Canadian Firms Invest and Operate Abroad? Implications for Canadian Exports2014-12-12International topicsRecent economic and financial developmentsDiscussion Paper 2014-7https://www.bankofcanada.ca/wp-content/uploads/2014/12/dp2014-7.pdfWhy Do Canadian Firms Invest and Operate Abroad? Implications for Canadian ExportsMartin CoiteuxPatrick RizzettoLena SuchanekJane VollDecember 2014FF1F10F2F21F23F4F41The Impact of U.S. Monetary Policy Normalization on Capital Flows to Emerging-Market Economies
https://www.bankofcanada.ca/2014/12/working-paper-2014-53/
The Federal Reserve’s path for withdrawal of monetary stimulus and eventually increasing interest rates could have substantial repercussions for capital flows to emerging-market economies (EMEs).2014-12-04T08:03:57+00:00enThe Impact of U.S. Monetary Policy Normalization on Capital Flows to Emerging-Market Economies2014-12-04International topicsMonetary policy transmissionWorking Paper 2014-53https://www.bankofcanada.ca/wp-content/uploads/2014/12/wp2014-53.pdfThe Impact of U.S. Monetary Policy Normalization on Capital Flows to Emerging-Market EconomiesTatjana DahlhausGarima VasishthaDecember 2014CC3C32EE5E52FF3F33F4F42The Effect of the Federal Reserve’s Tapering Announcements on Emerging Markets
https://www.bankofcanada.ca/2014/11/working-paper-2014-50/
The Federal Reserve’s quantitative easing (QE) program has been accompanied by a flow of funds into emerging-market economies (EMEs) in search of higher returns.2014-11-19T11:39:54+00:00enThe Effect of the Federal Reserve’s Tapering Announcements on Emerging Markets2014-11-19International financial marketsInternational topicsMonetary policy transmissionWorking Paper 2014-50https://www.bankofcanada.ca/wp-content/uploads/2014/11/wp2014-50.pdfThe Effect of the Federal Reserve’s Tapering Announcements on Emerging MarketsVikram RaiLena SuchanekNovember 2014CC3C33EE5E58FF3F32GG1G14Spillover Effects of Quantitative Easing on Emerging-Market Economies
https://www.bankofcanada.ca/wp-content/uploads/2014/11/boc-review-autumn14-lavigne.pdf
While quantitative easing (QE) in the United States likely increased capital flows to emerging-market economies (EMEs), putting upward pressure on asset prices and exchange rates, diverging fundamentals between advanced economies and EMEs were also important drivers. Evidence suggests that the benefits of QE to EMEs, in higher global demand and increased confidence, appear to outweigh the costs. When advanced economies begin to normalize monetary policy, the best defence for EMEs against any potential instability is likely to be further strengthening of their macroeconomic and financial policy frameworks.2014-11-13T08:36:36+00:00enSpillover Effects of Quantitative Easing on Emerging-Market Economies2014-11-13Credit Market Frictions and Sudden Stops
https://www.bankofcanada.ca/2014/11/working-paper-2014-49/
Financial crises in emerging economies in the 1980s and 1990s often entailed abrupt declines in foreign capital inflows, improvements in trade balance, and large declines in output and total factor productivity (TFP).2014-11-12T12:26:54+00:00enCredit Market Frictions and Sudden Stops2014-11-12Business fluctuations and cyclesCredit and credit aggregatesFinancial marketsInternational topicsWorking Paper 2014-49https://www.bankofcanada.ca/wp-content/uploads/2014/11/wp2014-49.pdfCredit Market Frictions and Sudden StopsYuko ImuraNovember 2014EE2E22E3E32FF4F41GG0G01Labour Share Fluctuations in Emerging Markets: The Role of the Cost of Borrowing
https://www.bankofcanada.ca/2014/10/working-paper-2014-47/
This paper contributes to the literature by documenting labour income share fluctuations in emerging-market economies and proposing an explanation for them. Time-series data indicate that emerging markets differ from developed markets in terms of changes in the labour share over the business cycle.2014-10-27T09:15:54+00:00enLabour Share Fluctuations in Emerging Markets: The Role of the Cost of Borrowing2014-10-27Business fluctuations and cyclesDevelopment economicsInterest ratesInternational topicsLabour marketsWorking Paper 2014-47https://www.bankofcanada.ca/wp-content/uploads/2014/10/wp2014-47.pdfLabour Share Fluctuations in Emerging Markets: The Role of the Cost of BorrowingSerdar KabacaOctober 2014EE2E25E4E44FF4F41Are There Gains from Pooling Real-Time Oil Price Forecasts?
https://www.bankofcanada.ca/2014/10/working-paper-2014-46/
The answer as to whether there are gains from pooling real-time oil price forecasts depends on the objective. The approach of combining five of the leading forecasting models with equal weights dominates the strategy of selecting one model and using it for all horizons up to two years.2014-10-24T13:07:37+00:00enAre There Gains from Pooling Real-Time Oil Price Forecasts?2014-10-24Econometric and statistical methodsInternational topicsWorking Paper 2014-46https://www.bankofcanada.ca/wp-content/uploads/2014/10/wp2014-46.pdfAre There Gains from Pooling Real-Time Oil Price Forecasts?Christiane BaumeisterLutz KilianThomas K. LeeOctober 2014CC5C53QQ4Q43International Transmission Channels of U.S. Quantitative Easing: Evidence from Canada
https://www.bankofcanada.ca/2014/09/working-paper-2014-43/
The U.S. Federal Reserve responded to the great recession by reducing policy rates to the effective lower bound. In order to provide further monetary stimulus, they subsequently conducted large-scale asset purchases, quadrupling their balance sheet in the process.2014-09-24T15:48:14+00:00enInternational Transmission Channels of U.S. Quantitative Easing: Evidence from Canada2014-09-24International topicsMonetary policy frameworkMonetary policy transmissionWorking Paper 2014-43https://www.bankofcanada.ca/wp-content/uploads/2014/09/wp2014-43.pdfInternational Transmission Channels of U.S. Quantitative Easing: Evidence from CanadaTatjana DahlhausAbeer RezaKristina HessSeptember 2014CC3C32EE5E52E58FF4F42F44What Does the Convenience Yield Curve Tell Us about the Crude Oil Market?
https://www.bankofcanada.ca/2014/09/working-paper-2014-42/
Using the prices of crude oil futures contracts, we construct the term structure of crude oil convenience yields out to one-year maturity. The crude oil convenience yield can be interpreted as the interest rate, denominated in barrels of oil, for borrowing a single barrel of oil, and it measures the value of storing crude oil over the borrowing period.2014-09-09T07:55:42+00:00enWhat Does the Convenience Yield Curve Tell Us about the Crude Oil Market?2014-09-09Asset pricingInternational topicsWorking Paper 2014-42https://www.bankofcanada.ca/wp-content/uploads/2014/09/wp2014-42.pdfWhat Does the Convenience Yield Curve Tell Us about the Crude Oil Market?Ron AlquistGregory BauerAntonio Diez de los RiosSeptember 2014CC5C53GG1G12G13QQ4Q43Global Inflation Dynamics in the Post-Crisis Period: What Explains the Twin Puzzle?
https://www.bankofcanada.ca/2014/08/working-paper-2014-36/
Inflation dynamics in advanced countries have produced two consecutive puzzles during the years after the global financial crisis. The first puzzle emerged when inflation rates over the period 2009-11 were consistently higher than expected, although economic slack in advanced countries reached its highest level in recent history.2014-08-11T15:54:07+00:00enGlobal Inflation Dynamics in the Post-Crisis Period: What Explains the Twin Puzzle?2014-08-11Fiscal policyInflation and pricesInternational topicsWorking Paper 2014-36https://www.bankofcanada.ca/wp-content/uploads/2014/08/wp2014-36.pdfGlobal Inflation Dynamics in the Post-Crisis Period: What Explains the Twin Puzzle?Christian FriedrichAugust 2014EE3E31E5FF4F41