D - Microeconomics - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T11:04:37+00:00Debt Overhang and Deleveraging in the US Household Sector: Gauging the Impact on Consumption
https://www.bankofcanada.ca/2015/12/staff-working-paper-2015-47/
Using a novel dataset for the US states, this paper examines whether household debt and the protracted debt deleveraging help explain the dismal performance of US consumption since 2007, in the aftermath of the housing bubble.2015-12-29T07:51:54+00:00enDebt Overhang and Deleveraging in the US Household Sector: Gauging the Impact on Consumption2015-12-29Credit and credit aggregatesEconometric and statistical methodsInternational topicsStaff Working Paper 2015-47https://www.bankofcanada.ca/wp-content/uploads/2015/12/wp2015-47.pdfDebt Overhang and Deleveraging in the US Household Sector: Gauging the Impact on ConsumptionBruno AlbuquerqueGeorgi KrustevDecember 2015CC1C13C2C23C5C52DD1D12HH3H31Indebted Households and Potential Vulnerabilities for the Canadian Financial System: A Microdata Analysis
https://www.bankofcanada.ca/wp-content/uploads/2015/12/fsr-december2015-cateau.pdf
Over the past decade, an increasing proportion of households in Canada have become highly indebted relative to their income. These highly indebted households now hold one-fifth of total Canadian household debt.Simulations suggest that this greater degree of household indebtedness could exacerbate the impact of shocks to income and interest rates relative to the pre-crisis period. However, an assessment of the vulnerability of the Canadian financial system should, among other factors, account for the ability of Canadian financial institutions to withstand losses from the household sector.2015-12-15T11:00:45+00:00enIndebted Households and Potential Vulnerabilities for the Canadian Financial System: A Microdata Analysis2015-12-15Estimating Canada’s Effective Lower Bound
https://www.bankofcanada.ca/2015/12/staff-analytical-note-2015-2/
In 2009, the Bank of Canada set its effective lower bound (ELB) at 25 basis points (bps). Given the recent experience of Sweden, Denmark, Switzerland and the euro area with negative interest rates, we examine the economics of negative interest rates and suggest that cash storage costs are the source of a negative lower bound on interest rates.2015-12-08T10:22:55+00:00enEstimating Canada’s Effective Lower Bound2015-12-08