Research - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T20:56:37+00:00On the Nexus of Monetary Policy and Financial Stability: Is the Financial System More Resilient?
https://www.bankofcanada.ca/2016/05/staff-discussion-paper-2016-12/
Monetary policy and financial stability are closely intertwined, and the resilience of the financial system carries weight in this relationship. This paper explores whether the financial system is more resilient as a result of the G20’s post-crisis agenda for financial regulatory reform.2016-05-27T14:17:32+00:00enOn the Nexus of Monetary Policy and Financial Stability: Is the Financial System More Resilient?2016-05-27Financial stabilityFinancial system regulation and policiesMonetary policy frameworkStaff Discussion Paper 2016-12https://www.bankofcanada.ca/wp-content/uploads/2016/05/sdp2016-12.pdfOn the Nexus of Monetary Policy and Financial Stability: Is the Financial System More Resilient?Patricia Palhau MoraMichael JanuskaMay 2016EE5E52GG0G01G2G21G23G28The Impact of Bankruptcy Reform on Insolvency Choice and Consumer Credit
https://www.bankofcanada.ca/2016/05/staff-working-paper-2016-26/
We examine the impact of the 2009 amendments to the Canadian Bankruptcy and Insolvency Act on insolvency decisions. Rule changes steered debtors out of division I proposals and into the more cost-effective division II proposals.2016-05-27T14:17:09+00:00enThe Impact of Bankruptcy Reform on Insolvency Choice and Consumer Credit2016-05-27Credit and credit aggregatesFinancial institutionsFinancial system regulation and policiesStaff Working Paper 2016-26https://www.bankofcanada.ca/wp-content/uploads/2016/05/swp2016-26.pdfThe Impact of Bankruptcy Reform on Insolvency Choice and Consumer CreditJason AllenKiana BasiriMay 2016DD1D14GG2KK3K35On the Nexus of Monetary Policy and Financial Stability: Effectiveness of Macroprudential Tools in Building Resilience and Mitigating Financial Imbalances
https://www.bankofcanada.ca/2016/05/staff-discussion-paper-2016-11/
This paper reviews the Canadian and international evidence of the effectiveness of macroprudential policy measures in building resilience and mitigating financial imbalances. The analysis concludes that these measures have broadly achieved their goal of increasing the overall resilience of the financial system to the buildup of imbalances and increasing the financial system’s ability to withstand adverse shocks.2016-05-27T14:16:56+00:00enOn the Nexus of Monetary Policy and Financial Stability: Effectiveness of Macroprudential Tools in Building Resilience and Mitigating Financial Imbalances2016-05-27Credit and credit aggregatesFinancial stabilityFinancial system regulation and policiesStaff Discussion Paper 2016-11https://www.bankofcanada.ca/wp-content/uploads/2016/05/sdp2016-11.pdfOn the Nexus of Monetary Policy and Financial Stability: Effectiveness of Macroprudential Tools in Building Resilience and Mitigating Financial ImbalancesH. Evren DamarMiguel MolicoMay 2016EE5E51E58GG1G18G2G28What Are the Macroeconomic Effects of High-Frequency Uncertainty Shocks
https://www.bankofcanada.ca/2016/05/staff-working-paper-2016-25/
This paper evaluates the effects of high-frequency uncertainty shocks on a set of low-frequency macroeconomic variables that are representative of the U.S. economy. Rather than estimating models at the same common low-frequency, we use recently developed econometric models, which allows us to deal with data of different sampling frequencies.2016-05-26T11:38:49+00:00enWhat Are the Macroeconomic Effects of High-Frequency Uncertainty Shocks2016-05-26Business fluctuations and cyclesEconometric and statistical methodsStaff Working Paper 2016-25https://www.bankofcanada.ca/wp-content/uploads/2016/05/swp2016-25.pdfWhat Are the Macroeconomic Effects of High-Frequency Uncertainty ShocksLaurent FerraraPierre GuérinMay 2016CC3C32EE3E32E4E44Housing and Tax-Deferred Retirement Accounts
https://www.bankofcanada.ca/2016/05/staff-working-paper-2016-24/
Assets in tax-deferred retirement accounts (TDA) and housing are two major components of household portfolios. In this paper, we develop a life-cycle model to examine the interaction between households’ use of TDA and their housing decisions.2016-05-11T15:10:28+00:00enHousing and Tax-Deferred Retirement Accounts2016-05-11Economic modelsHousingStaff Working Paper 2016-24https://www.bankofcanada.ca/wp-content/uploads/2016/05/swp2016-24.pdfHousing and Tax-Deferred Retirement AccountsAnson T. Y. HoJie ZhouMay 2016CC6C61DD1D14D9D91EE2E21HH2H24RR2R21Identification and Estimation of Risk Aversion in First-Price Auctions with Unobserved Auction Heterogeneity
https://www.bankofcanada.ca/2016/05/staff-working-paper-2016-23/
This paper shows point identification in first-price auction models with risk aversion and unobserved auction heterogeneity by exploiting multiple bids from each auction and variation in the number of bidders. The required exclusion restriction is shown to be consistent with a large class of entry models.2016-05-09T08:48:48+00:00enIdentification and Estimation of Risk Aversion in First-Price Auctions with Unobserved Auction Heterogeneity2016-05-09Econometric and statistical methodsStaff Working Paper 2016-23https://www.bankofcanada.ca/wp-content/uploads/2016/05/swp2016-23.pdfIdentification and Estimation of Risk Aversion in First-Price Auctions with Unobserved Auction HeterogeneitySerafin GrundlYu ZhuMay 2016CC1C14C5C57DD4D44LL0L00Estimating Systematic Risk Under Extremely Adverse Market Conditions
https://www.bankofcanada.ca/2016/05/staff-working-paper-2016-22/
This paper considers the problem of estimating a linear model between two heavy-tailed variables if the explanatory variable has an extremely low (or high) value. We propose an estimator for the model coefficient by exploiting the tail dependence between the two variables and prove its asymptotic properties.2016-05-04T15:02:09+00:00enEstimating Systematic Risk Under Extremely Adverse Market Conditions2016-05-04Econometric and statistical methodsFinancial marketsStaff Working Paper 2016-22https://www.bankofcanada.ca/wp-content/uploads/2016/05/swp2016-22.pdfEstimating Systematic Risk Under Extremely Adverse Market ConditionsMaarten van OordtChen ZhouMay 2016CC1C14GG0G01