April 24, 2016
Posts
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What to Expect When China Liberalizes Its Capital Account
When China joined the World Trade Organization in December 2001, it marked a watershed for the world economy. Ten years from now, the opening of China’s capital account and the financial integration that will unfold will be viewed as a milestone of similar importance. -
April 22, 2016
Bank of Canada Announces Change in Communication Process for Term Repo Operations
The Bank of Canada today announced changes to its communication process for term repo operations. -
April 21, 2016
Term repos
These operations, where assets are acquired temporarily through the secondary market, are conducted to manage the Bank’s balance sheet and to promote the orderly functioning of Canadian financial markets. -
Should Monetary Policy Lean Against Housing Market Booms?
Should monetary policy lean against housing market booms? We approach this question using a small-scale, regime-switching New Keynesian model, where housing market crashes arrive with a logit probability that depends on the level of household debt. -
April 20, 2016
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
Good morning, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I are happy to be back to discuss the Bank’s Monetary Policy Report (MPR), which we published last week. It has been 18 months since Carolyn and I were last here. And it was about that time, in the fall of 2014, when […] -
April 19, 2016
Opening Statement before the House of Commons Standing Committee on Finance
Good morning, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I are happy to be back to discuss the Bank’s Monetary Policy Report (MPR), which we published last week. I extend particular greetings to the new members of this committee, and look forward to being with you twice a year to talk about […] -
A General Approach to Recovering Market Expectations from Futures Prices with an Application to Crude Oil
Futures markets are a potentially valuable source of information about price expectations. Exploiting this information has proved difficult in practice, because time-varying risk premia often render the futures price a poor measure of the market expectation of the price of the underlying asset. -
April 17, 2016
Digital Disruptions to the Financial System, Opportunities and Threats
Archived panel discussion at the International Monetary Fund seminar.
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